Saudi s Prince Abdulaziz calls IEA s net-zero road map La La Land sequel
RIYADH, 1 hours, 21 minutes ago Saudi Energy Minister Prince Abdulaziz Bin Salman has read the International Energy Agency s (IEA) recent blockbuster report outlining a road map for the world to achieve net-zero carbon emissions by 2050 and is not impressed. I would have to express my view that I believe it is a sequel of [the] La La Land movie, Prince Abdulaziz told reporters after Opec+ ministers met to affirm production levels through July. Why should I take it seriously? The IEA s road map concluded that if the world were to slash carbon emissions to net-zero over the next three decades, global oil supplies would need to shrink more than 8% annually, down to 24 million bpd in 2050, from pre-pandemic levels of just above 100 million bpd, a Saudi Gazette report said. That would mean no new oil and gas upstream projects should be developed.
June 02, 2021
Energy Minister Prince Abdulaziz Bin Salman has read the International Energy Agency s (IEA) recent blockbuster report outlining a road map for the world to achieve net-zero carbon emissions by 2050 and is not impressed.
RIYADH Energy Minister Prince Abdulaziz Bin Salman has read the International Energy Agency s (IEA) recent blockbuster report outlining a road map for the world to achieve net-zero carbon emissions by 2050 and is not impressed. I would have to express my view that I believe it is a sequel of [the] La La Land movie, Prince Abdulaziz told reporters June 1 after OPEC+ ministers met to affirm production levels through July. Why should I take it seriously?
The OPEC+ grouping will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the market between May and July. Production policy beyond July was not decided on, and the group will meet again on July 1.
OPEC demand outlook boosts recovery hopes afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
10 Apr 2021 / 09:01 H. Deal sees OPEC+ output rising 350,000 bpd from May Gradual rise in OPEC+ production continues in June, July Saudi Arabia outlines plan to phase out its voluntary cut U.S. energy secretary, Saudi energy minister hold call (Edits)
By Alex Lawler, Rania El Gamal and Vladimir Soldatkin
LONDON/DUBAI/MOSCOW, April 1 (Reuters) - OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new U.S. administration called on Saudi Arabia to keep energy affordable for consumers.
The group, which has implemented deep cuts since a pandemic-induced oil price collapse in 2020, agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.