OPEC

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28 07 2022 | 20:29

Revealed: oil sector’s ‘staggering’ $3bn-a-day profits for last 50 years

The oil and gas industry has delivered $2.8bn (£2.3bn) a day in pure profit for the last 50 years, a new analysis has revealed. The vast total captured by petrostates and fossil fuel companies since…

09 02 2021 | 08:34

OPEC’s Planned Output Increase Is Offset by Africa Disruptions.

OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations. The Organization of Petroleum Exporting Countries raised output by…

09 10 2020 | 14:26

Opec rejects projection that global demand for oil has peaked.

Cartel of oil-exporting nations expects demand to continue rising until late 2030s. The world’s most powerful oil-producing nations have denied that oil demand may have already reached its peak and…

23 09 2020 | 10:29

OPEC Turns 60: An Oil Cartel on Life Support.

In 1973, a handful of oil-rich countries, led by Saudi Arabia, Iran and Iraq, brought the mighty U.S. economy to its knees by slapping an oil embargo on Washington and its allies. The suspension of…

04 03 2020 | 17:06

The Real Reason The Middle East Is Pivoting Towards Renewables.

The oil-rich Middle East is boosting investments in renewable energy generation at home and abroad.   Watch the video here. Just a few years ago, this notion would have raised a few eyebrows. But…

13 07 2019 | 12:46

Climate activists consider a badge of honour that the head of OPEC believes their campaign may be the “greatest threat” to the fossil fuel industry.

Biggest compliment yet': Greta Thunberg welcomes oil chief's 'greatest threat' label