Latest News

OPEC To Increase Oil Output

Geared to fix up their schemes to gradually increase oil production by 2 million barrels on a regular daily basis over the coming months, OPEC and its partners will act in line with oil market conditions. Speaking in a session attended by OPEC and OPEC+ experts, Secretary-General of OPEC, Mohammad Barkindo, said in 2021 oil demand in the world is expected to go up to 95.9 million bpd. OPEC+, last month, planned to multiply oil output by 0.5 million barrels per day (bpd) as of January; however, some of its members were unwilling to further step up output from the month of February. In the wake of lockdowns, OPEC+ had no choice but to reduce oil production in a record quantity as global demand decreased. Vaccines have brought hope around the world’s oil economy; yet, demand for oil might not be able to reach the levels before the pandemic (nearly 100 million bpd). Samira H.
Read more
By Samira Hassanzadeh on October 19, 2021

Shell Aims to Cut Its Carbon Emissions

Royal Dutch Shell on February 11 briefed its short and long-term plans for moving towards clean energy. The oil and gas company strives to limit its net zero carbon emissions (by 6% to 8% compared to the amounts in 2016) by two years from now. From there, it will increase the percentage to 20% by 2030 and 100% by the year 2050. Shell’s CEO Ben van Beurden approved it aims to lower emissions. He added Shell respects its stockholders and customers with offering their desired products, which are eco-friendly. It will retain its competitive morale in its shift to zero emissions, he said. The company declared its oil production rocketed in 2019. The supermajors in the world have ignored the climate change issue and retarded clean energy project. This is while the United Nations has criticized the impacts of all the things that lead to a large-scale change in weather patterns. Samira H.
Read more
By Samira Hassanzadeh on October 19, 2021

Newsletter

Enter your email address below to subscribe to our newsletter and keep up to date with the latest news, discounts and special offers.

Latest Comments