Gulf oil producers do not envisage a post-2050 world devoid of hydrocarbons, even though two of the region’s biggest producers, the UAE and Saudi Arabia, have committed to net-zero carbon emissions by 2050 and 2060, respectively. Reconciling their future environmental commitments with their current reliance on hydrocarbons is going to be an arduous and expensive journey that starts with decarbonizing their oil and gas production to reduce their carbon footprint…
If oil and politics are closely intertwined, this is certainly exemplified by the era of Middle East concession acquisition exploration and development, and more so in Iraq than anywhere else. The concession agreements were negotiated between the powers of the day, and enforced on the embryonic governments of the time. Production plans and policies were based on the consuming powers’ needs, with little consideration given to the concessionaires The concession era…
