Today, the United Arab Emirates launched its COP28 presidency and placed the chief of the Abu Dhabi National Oil Company (ADNOC) at the head of this year’s climate talks, amid deep civil society apprehension of this major conflict of interest.
The creation of the NZPF is a tacit recognition by major oil and gas producers that their contribution to the climate crisis can no longer be ignored. But the framing of the initiative and its main objectives raise the prospect of the NZPF being a greenwashing tool in service to the oil and gas industry’s interests.
Later this year, OPEC will mark its 60th birthday. Former OCI staff member Greg Muttitt has contributed a chapter to an important new book on OPEC’s history and future. In a guest blog based on his chapter, he argues we need to think about OPEC less simplistically, and suggests a role for OPEC in tackling … Read More
Later this week, the board of the state-owned oil company of Saudi Arabia, known as Saudi Aramco, is expected to give its final approval to proceed with its long awaited part privatization, otherwise known as an “Initial Public Offering” or IPO.
The world’s largest oil exporter has signalled that it is investing in the world’s largest shale play. And that can only be further bad news for the climate.
For oil watchers, one of the biggest stories of the year, or maybe decade, has been the proposal to privatise five percent of Saudi Aramco, the world’s largest oil company. Reuters broke news on Wednesday that the high-profile Initial Public Offering (IPO) has been shelved, and the advisory teams disbanded. The Saudi government has said … Read More
If you read the news yesterday you would be forgiven for missing something momentous. When the definitive book about the oil age is finally written, yesterday will be marked as significant.
Why part-privatizing state oil company Aramco is a bad idea for the Saudi economy and for the global climate
The US could soon replace Saudi Arabia as the world’s leading oil producer, just as the Saudis promise to go green
New documents released by Wikileaks reveal that for over three years the Americans have been worried that Saudi Arabia may have overstated its reserves by 40 per cent or some 300bn barrels. The fact that Saudi Arabia may be overstating its reserves its nothing new, but many consider it the elephant in the room for … Read More