Remove Algeria Remove Market Remove Oil Remove Price
article thumbnail

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

However, the resulting low gas prices, as well as clean air and climate policies, will promote further switching to gas from other more polluting energy sources, such as oil and coal. The pandemic has created disruption in the global energy sector, but low gas prices will ultimately stimulate demand growth as the economy recovers.

Gas 243
article thumbnail

OPEC’s Output Freeze: What Has Changed Since Doha?

Green Car Congress

The official chatter is that the OPEC meeting in Algeria from September 26 to 28 could conclude with an agreement to freeze production by the member nations, with even Russia joining forces in a freeze that may prevent further oil price erosion. What has changed from Doha to Algeria?

article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.”

article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. billion vs. $1.6 billion to $3.5)

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.

Russia 150
article thumbnail

Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers

Green Car Congress

Nigeria or Algeria cannot do the same for their oil industry. Financial markets divest fossil-fuel assets and reallocate capital to low-carbon firms. Petro-states are compensated to transition smoothly to a sustainable economy, avoiding a last-ditch attempt to flood the world with cheap oil and gas. —Goldthau et al.

Carbon 207
article thumbnail

Europe moves forward on the Energy Union; transport key element

Green Car Congress

A project that will integrate our 28 European energy markets into one Energy Union, make Europe less energy dependent and give the predictability that investors so badly need to create jobs and growth. 94% percent of transport relies on oil products, of which 90% is imported. 75% of EU housing stock is energy inefficient.