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Opec member states gathering for their next meeting on 30 November will be keeping a close watch on the UAE and Saudi delegations, following a threatened rupture in the Gulf states’ oil relations – which have traditionally been seen as a cornerstone of the cartel’s market management.
Issue 1115 - 26 November 2020
United Arab Emirates (UAE)
Energy & industry
Announcing job losses and investment cutbacks, many of Big Oil’s flagship companies have been making dramatic announcements of changes in strategic direction. This is most marked among European majors BP, Eni, Royal Dutch Shell and Total, if not by their US peers ExxonMobil and Chevron Corporation; it suggests that many industry leaders now see their futures as diversified energy companies, rather than old-style international oil companies (IOCs).
Issue 1112 - 15 October 2020
Energy & industry, Finance & business