The decision to cut oil production by the Organization of Petroleum Exporting Countries (OPEC) and its allies as of Nov. 1 comes in response to the need to face a shrinking market, although it also forms part of the current clash between Russia and the West.
The oil slump, global recession and uncertainty about the magnitude of the COVID-19 pandemic will fuel the appetite for cheaper fossil fuel energy and delay investments in renewables, affecting the targets of the Paris Agreement on climate change and the Sustainable Development Goals (SDGs).
Corruption in the Venezuelan state oil industry, denounced by the government itself, and with former ministers and senior managers behind bars, is the latest evidence that, in the country with the largest oil reserves on the planet, the industry on which the economy depends is falling apart.
Juvinal Dias has first-hand experience of mistreatment at the hands of a foreign power. Born in 1981 in Tutuala, a village in the far east of Timor-Leste, Dias’ family fled into the jungle following the 1975 invasion by Indonesia.
Venezuela doesn't want investment treaties anymore if they give investors the right to drag the country before a commercial court. "The system has been set up to break down the nation-state."
The heavily criticized legal mechanism, known as ISDS, is an important tool for European companies to pressurize developing countries. This year Uganda joins the rank of developing nations asking themselves: "Why have we ever signed this?"
The crash in oil prices is not the only challenge confronting the Gulf States in West Asia. Economic disorder and lack of opportunity are contributing to instability in the region, stated Bahrain’s minister for industry, commerce and tourism, Zayed Al Zayani, while kicking off the recent IISS Bahrain Bay Forum. He emphasized the need for “unprecedented” economic reform across the Gulf in the wake of the lower oil revenues. These policies include the generation of millions of jobs for the youth in these economies that continue to depend heavily on expatriate labour from India, Pakistan, Bangladesh and Philippines.
Itaboraí still recalls its origins as a sprawling city that sprang up along a highway, not far from Rio de Janeiro. But a few years ago big modern buildings began to sprout all over this city in southeast Brazil, whose offices and shops are almost all empty today.
Iran has had a nuclear programme since 1959 when the United States gave a small reactor to Tehran University as part of the “Atoms for Peace” programme during Mohammad Reza Shah Pahlavi’s reign. When the Non-Proliferation Treaty (NPT) was introduced in 1968 and entered into force in 1970, Iran was one of the first signatories of that Treaty.
After a one-day summit in the U.S. Arctic’s biggest city, leaders from the world’s northern countries acknowledged that climate change is seriously disrupting the Arctic ecosystem, yet left without committing themselves to serious action to fight the negative impacts of global warming.
A one-day summit taking place here on Aug. 31 hopes to bring Arctic nations together in support of climate action against a backdrop of criticism of offshore oil drilling in the region.
Nigeria seems in no haste to unveil its climate pledge with just four months to go before the U.N. Climate Conference scheduled for December in Paris.
The Vienna agreement between Iran and the five permanent members of the United Nations Security Council acting in concert with Germany has the potential to remake international relations beyond the immediate goal of stopping Iran from acquiring nuclear weapons.
The latest report by the World Trade Organisation (WTO) on G20 trade measures shows a slight deceleration in the application of new trade-restrictive measures by G20 economies, with the average number of such measures applied per month lower than at any time since 2013.
One of the promises made by the leaders of the world's seven richest nations when they met at Schloss Elmau in Germany earlier this week was an energy transition over the next decades, aiming to gradually phase out fossil fuel emissions this century to avoid the worst of climate change.
When it comes to climate change, business as usual is simply “not an option”.
Cameroon’s government under President Paul Biya is bearing down on a separatist movement fighting for the rights of a minority English-language region, using as its weapon a sweeping new anti-terrorism law introduced at the end of last year.
U.S. President Barack Obama has earned a place in history for taking the first steps towards rectifying a policy that has lasted over half a century without ever achieving its primary goal of ending the Castro regime in Cuba.
There is a new scramble for Africa, with ordinary people facing displacement by the affluent and the powerful as huge tracts of land on the continent are grabbed by a minority, rights activists here say.
Driven by solar and wind, world investments in renewable energy reversed a two-year dip last year, brushing aside the challenge from sharply lower oil prices and registering a 17 percent leap over the previous year to stand at 270 billion dollars.
Nearly half of the world’s hungry, amounting to about 363 million people, live in some of the rising middle income countries, including Brazil, China, India, Indonesia and Mexico, according to a new report released Wednesday by the Washington-based International Food Policy Research Institute (IFPRI).