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UN

Oil & Gas

UAE eyes first net-zero by 2050 goal among major Petrostates

The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries (OPEC) to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil.

Other News

UN moves to block IS terror funds

Finance ministers from the United Nations Security Council’s 15 powers are poised to adopt a resolution aimed at disrupting the Islamic State (IS) terror group’s earnings from oil and antiquities sales, ransom payments and other criminal activities. IS is already subject to UN sanctions under resolutions dealing with al Qaida. But the proposed resolution, sponsored by the United States and Russia, elevates IS to the same level as al Qaida, reflecting its split from al Qaida and the growing threat it poses especially in the Middle East and North Africa. US treasury secretary Jacob Lew, who will chair today’s meeting, said disrupting IS’ revenue and cutting it off from the international financial system “are critical to effectively combating this violent terrorist group”.

Other News

UN closes the books on decade-long Iran nuclear probe

The UN nuclear agency have approved a resolution that ends a decade-long probe of allegations that Iran worked on atomic weapons. The probe had to be formally closed as part of an Iran-six nation deal restricting Iran’s current nuclear programmes which could be used to make such weapons, in exchange for sanctions relief for Tehran.

Other News

High ambition coalition calls for strong climate deal

A “high ambition coalition” of countries including the EU, some of the world's poorest and most vulnerable countries and the US, Chile, Colombia, Mexico, Iceland and Norway has called for a strong climate deal, with Brazil the most recent country to join the group.