Read more about OPEC+ producers sticks to plan to ease supply cuts through July on Business Standard. OPEC+ decided in April to return 2.1 million bpd of supply to the market during May through July as it anticipated demand would rise despite high numbers of coronavirus cases in India
OPEC, Russia seen gaining more power with Shell Dutch ruling
Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia’s Gazprom and Rosneft.
It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC).
“Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in,” said Amrita Sen from Energy Aspects consultancy.
OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply. The Organization of the Petroleum Exporting Countries and allies – known as OPEC+ – decided in .
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That s good news for the likes of Saudi Arabia s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia s Gazprom and Rosneft. It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC). Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in, said Amrita Sen from Energy Aspects consultancy.
OPEC, Russia seen gaining more power with Shell Dutch ruling
By Dmitry Zhdannikov
Reuters
LONDON (Reuters) - Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia s Gazprom and Rosneft.
It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC).