Bloomberg LONDON- Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private. The deposit, near the southern oil hub of Basra, produces almost 1.5
Modern Diplomacy To boost the shift towards eco-friendly investment the EU is introducing rules to define what qualifies as green or sustainable activities. During the June plenary session, MEPs will vote on a framework that determines which activities can be considered sustainable. This would establish a common classification system across the EU, provide business and investors with clarity, and encourage
Rystad Energy Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years and a staggering 29% decrease of $156 billion compared to 2019. With 2019’s upstream investments calculated at $539 billion, the decline is set
