Royal Dutch Shell said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook. In a trading update ahead of full year results, Shell also lowered its oil products sales forecast, pointing … Read more
The Organisation of the Petroleum Exporting Countries (OPEC) said on Monday that it believes oil and gas remained part of key solutions in combating climate change. The Secretary General of the organisation, Mohammad Barkindo, stated this in Vienna while speaking against the backdrop of mass mobilisation of civil society campaigns against the oil industry. “We … Read more
A senior Iranian commander has dismissed the United States’ aggressive posturing against Iran, reasoning that any potential confrontation in the Persian Gulf would instantly increase oil prices to over 100 dollars per barrel, something that Washington and its allies would not be able to endure. Major General Yahya Rahim Safavi, a top military adviser to … Read more