OPEC, Russia seen gaining more power with Shell Dutch ruling

Published by
Reuters

By Dmitry Zhdannikov LONDON (Reuters) – Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia’s Gazprom and Rosneft. It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC). “Oil a…

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