The United Arab Emirates (UAE) has officially left the Organization of the Petroleum Exporting Countries (OPEC) after almost six decades of membership, ending on 1 May 2026. This move is a watershed in global energy politics, foreshadowing the unraveling of OPEC’s cohesion and the emergence of a more fractured, competitive oil market.
Hailed as a clean energy solution, hydrogen is powering up decarbonization efforts across various sectors. As of October 2023, the industry boasts over 1,400 announced clean hydrogen projects, according to the Hydrogen Council's “Hydrogen Insights 2023”.
It’s the time of year again, as across the world nations prepare for the world’s biggest climate-focused conference: COP. With COP28 set to be hosted by the UAE, all eyes are on the energy sector to see how it responds and engages with the event, and the industry-wide commitment to the energy transition. IOGP supports this commitment to the energy transition and works with its members to help them decarbonise whilst maintaining the careful balance of energy security and affordability.
Upstream companies are under increasing pressure to decarbonise. Governments, investors, financial markets, society, and other stakeholders are pushing for change. Companies need to define their energy transition strategies, future-proof their business, and protect their social licence to operate.
As the energy transition unfolds, upstream companies are coming under increasing pressure to decarbonize. Governments, investors, financial markets, society, and other stakeholders are pushing for change. Companies need to define their transition strategies, future-proof their business, and protect their social license to operate.
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