Source: Asharq Al-Awsat
Security & Justice
Four Italian Soldiers Hurt in UNIFIL Base Attack, Hezbollah Suspected
Four Italian soldiers were lightly injured after two rockets exploded at a UNIFIL peacekeeping force base in southern Lebanon, the Rome government said on Friday, expressing outrage at the incident.
Friday, November 22, 2024
UN Reports Heavy Clashes Between Israeli Troops and Hezbollah in South Lebanon
Israeli troops fought fierce battles with Hezbollah fighters on Friday in different areas in south Lebanon, including a coastal town that is home to the headquarters of U.N. peacekeepers.
Friday, November 22, 2024
Opinion
Lebanon's Economy—Not Battlefield—May Have the Final Word
Time and again during this most recent war in Lebanon, we hear the phrase, “The battlefield has the final word”. It has become the sole and wholly unsatisfactory refrain of Hezbollah and the so-called 'Axis of Resistance'.
Wednesday, November 20, 2024
Flying Above the Bombs, a Lebanese Airline Becomes an Unlikely National Hero
It used to be like almost any other national carrier, fielding gripes about flight delays, ticket prices and bad food.
Wednesday, November 20, 2024
Sports
Israel Face France in Paris Football Match Under Tight Security
Israel face France in a Nations League football match in Paris on Thursday surrounded by a huge security operation to prevent a repetition of the attacks on Israeli fans in Amsterdam last week.
Thursday, November 14, 2024
Alcaraz Beats Rublev to Open ATP Finals Account
Carlos Alcaraz opened his account at the ATP Finals on Wednesday with an entertaining 6-3, 7-6 (10/8) win over Andrey Rublev which boosted his hopes of reaching the semifinals.
Wednesday, November 13, 2024
Tuesday 26 March 2024 12:26:54
OPEC Chief: Oil Sector Requires $11.1 Trillion Investments by 2045
Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais has said that the oil exploration and production sector needs investments estimated at $11.1 trillion by 2045.
Speaking to the Emirati news agency, WAM, the OPEC Secretary General said the increase in investments in the oil industry comes in light of the increase in global demand for energy, as the upstream sector needs investments estimated at $11.1 trillion, the downstream sector about $1.7 trillion, while the midstream sector requires investments of $1.2 trillion by 2045.
“Allocating more investments in the oil industry will contribute to promoting the sustainability of the global energy sector, securing sufficient and reliable supplies for the world as a whole, and ensuring secure supplies for future generations,” Al Ghais said.
He then highlighted the importance of investments in the energy sector for global energy security and emission reduction, and emphasized the role of member states in addressing critical global issues like climate change and energy transition.
Al Ghais highlighted the organization's active involvement in climate change negotiations, emphasizing member states' belief in its global significance.
He said OPEC facilitates information exchange and supports members in implementing strategies to reduce emissions, fostering environmentally friendly practices in the oil and energy industry.
The secretary-general noted that OPEC members consistently announce and implement initiatives to meet ambitious climate goals.
“These efforts include innovative projects leveraging diverse natural resources and sector-specific expertise to develop technologies such as carbon capture, utilization, and storage, enhancing sustainability across all facets of the oil industry,” he said.
Al Ghais highlighted investments in oil, hydrogen, and renewable energy by member states.
He stressed the importance of oil not just as an energy source but also for materials in renewables, stressing it is the main source for the manufacturing of wind turbines and solar panels and the Lithium-ion batteries used in electric cars.