{"id":417943,"date":"2026-04-30T07:14:10","date_gmt":"2026-04-30T07:14:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/417943\/"},"modified":"2026-04-30T07:14:10","modified_gmt":"2026-04-30T07:14:10","slug":"united-arab-emirates-to-leave-opec","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/417943\/","title":{"rendered":"United Arab Emirates to Leave OPEC"},"content":{"rendered":"

Today\u2019s ESG Updates:<\/p>\n

United Arab Emirates to Leave OPEC: The UAE\u2019s exit from OPEC could add more uncertainty to future fuel and energy costs for households and businesses.
\nShell Warns Hormuz Blockade Could Stretch Global Energy Crunch Into 2027: Shell CEO says the Hormuz disruption may keep oil and LNG markets tight for at least another year.
\nPepsiCo and Suppliers Sign 10\u2011Year Wind Power Deal to Cut Value Chain Emissions: PepsiCo and key suppliers are repowering Spanish wind power as a lever for Scope 3 decarbonisation across their European operations.
\nBlackstone Backs European Renewables with \u20ac2 Billion Eurowind Investment: The investment helps to scale up solar, wind, and battery projects across 16 European markets, betting on surging electricity demand driven by AI, electrification, and re-industrialisation.<\/p>\n

United Arab Emirates to leave OPEC<\/p>\n

It has been confirmed that the United Arab Emirates (UAE) is leaving both OPEC and OPEC+ next month, with the move aiming to pump more oil freely after investing to raise capacity, a move some analysts call \u201cthe beginning of the end\u201d for the cartel as it loses about 15% of its capacity and one of its most compliant members. Oil prices are already elevated at around $113\/bbl (barrel), up from about $73\/bbl before the US\u2011Israel war with Iran.<\/p>\n

The World Bank has warned that this conflict has caused the biggest loss of oil supply on record, pushing average energy prices up by roughly a quarter this year and hitting the poorest households hardest. The UAE, currently OPEC\u2019s fourth\u2011largest producer at about 2.9 million bpd (barrels of oil per day) in 2024, could add roughly 1 million bpd outside OPEC, helped by one of the lowest break\u2011even costs in the world, nearly half that of Saudi Arabia, meaning it can profit even at lower prices.<\/p>\n

Its energy minister says leaving gives \u201cmore flexibility,\u201d and experts argue the country now wants to \u201csell as much oil as they can to as many people as possible,\u201d potentially clashing with any future OPEC attempts to keep prices high and forcing Saudi Arabia to do most of the \u201cheavy lifting\u201d on supply cuts.<\/p>\n

The World Bank also notes it may take about six months for shipping through the Strait of Hormuz to return to pre\u2011war levels, so the UAE\u2019s exit will not change supply immediately but could reshape Middle East geopolitics and oil markets over the coming decades.<\/p>\n

***<\/p>\n

Further reading: United Arab Emirates to quit oil cartel Opec<\/a><\/p>\n

Featured ESG Tool of the Week:
Klimado <\/a>\u2013 Navigate climate complexity with a user-friendly platform that tracks global and local environmental changes for ESG-conscious decision-making. Perfect for investors, companies, and policymakers seeking actionable insights on sustainability trends.<\/p>\n

Shell warns Hormuz blockade could stretch global energy crunch into 2027
\n\"\"Besides the Gulf Countries, South, Southeast, and East Asia are expected to also lose out, thanks to the Hormuz blockade. Photo Credit: Keming Tan<\/a> on Unsplash<\/a>\u00a0<\/p>\n

Shell CEO Wael Sawan warns that the Hormuz blockade has already kept roughly 900 million barrels of oil from being produced in recent months, forcing the world to lean on dwindling inventories, trigger demand curtailment in some regions, and push buyers into fuel switching as about 20% of global oil and gas is effectively locked out of the market. Brent is trading around $111.19\/bbl (barrel) after jumping 2.8% as US\u2011Iran talks stall, and Sawan says tight supply\u2011demand balances could last \u201cfor at least the coming months, if not the next year\u2011plus,\u201d potentially stretching shortages into 2027 and hitting both oil and LNG. Asia is singled out as a major loser as countries like Iraq, Kuwait, and Qatar shut in production and compete for cargoes elsewhere, bidding prices higher. Meanwhile, Shell\u2019s recent $13.6 billion takeover of Canadian shale producer ARC Resources is framed as supporting production growth through 2030 and feeding LNG Canada\u2019s exports to Asia, adding some diversification away from the Middle East, even though the company had been assessing ARC well before the Iran war.<\/p>\n

Sawan sums up Shell\u2019s stance as focusing on diversifying production and \u201cnew horizon\u201d opportunities while stressing that the current shock is \u201cprofound\u201d and not just about oil but also LNG.<\/p>\n

***
Further reading: Shell CEO says blockade may mean energy shortages last into 2027<\/a><\/p>\n

Related Articles<\/p>\n

Here is a list of articles selected by our editorial board that have gained significant interest from the public:<\/p>\n

PepsiCo and suppliers sign 10\u2011Year wind power deal to cut value chain emissions
\n\"\"This project is PepsiCo\u2019s second PPA in Spain since 2023. Photo Credit: WrS.tm.pl<\/a> on Unsplash<\/a>\u00a0<\/p>\n

PepsiCo, Givaudan, Smurfit WestRock, and Statkraft have signed a 10\u2011year virtual Power-Purchasing Agreement (PPA) for a repowered wind project in Spain under PepsiCo\u2019s pep+ REnew program, expected to cut about 32,000 metric tons of CO\u2082 emissions per year and mark the program\u2019s first European renewable electricity cohort, following its expansion to support 250+ companies globally.<\/p>\n

PepsiCo is using this deal to advance its SBTi\u2011validated pathway toward net zero by 2050, including 2030 targets of a 42% cut in Scope 3 Energy & Industry emissions and 30% in Scope 3 FLAG emissions from a 2022 baseline.<\/p>\n

PepsiCo EMEA CSO Archana Jagannathan highlights \u201ca further step forward in our journey to reduce emissions not only within our own operations but across our entire value chain.\u201d At the same time, Givaudan\u2019s sustainability lead Willem Mutsaerts calls it \u201ca compelling example of how we are bringing to life sustainable growth with customers.\u201d Statkraft\u2019s EVP Hallvard Grandheim stresses that \u201ccompanies of varied sizes can work together to help drive meaningful climate impact.\u201d<\/p>\n

The project will repower existing wind capacity with more efficient turbines, reusing grid infrastructure to boost output and limit additional environmental impact.<\/p>\n

***<\/p>\n

Further reading: PepsiCo, Givaudan, Smurfit WestRock, and Statkraft sign 10\u2011year renewable energy agreement to advance value chain decarbonization across Europe<\/a><\/p>\n

Blackstone backs European renewables with \u20ac2 Billion Eurowind investment
\n\"\"Private equity giant partners with Danish developer to triple clean energy deployment as power demand rebounds across Europe. Photo Credit: Nicholas Doherty<\/a> on Unsplash<\/a>\u00a0<\/p>\n

Blackstone Infrastructure is pumping up to \u20ac2 billion into Eurowind Energy. The deal aims to accelerate Eurowind\u2019s expansion, as European power demand is expected to grow by more than 3% annually through 2040, driven by electrification, AI, and re-industrialization after years of flat demand.<\/p>\n

Eurowind CEO and Co-founder Jens Rasmussen will stay on and says the investment will let them \u201cinstall three to four times more solar and wind energy as well as batteries versus our current pace.\u201d<\/p>\n

Norlys, Denmark\u2019s largest integrated energy and telecoms group, remains invested alongside Blackstone, with Norlys Group CEO Gert Vinther J\u00f8rgensen emphasizing that \u201cEurope needs to become self-sufficient with stable and competitive energy.\u201d The transaction is expected to close before year-end, adding to Blackstone\u2019s \u20ac400 billion in European assets and targeting over \u20ac500 billion in European assets by 2035.<\/p>\n

***<\/p>\n

Further reading: Blackstone Infrastructure to Invest up to \u20ac2 Billion in Leading Pan\u2011European Renewables Developer Eurowind Energy<\/a><\/p>\n

Editor\u2019s Note: The opinions expressed here by the authors are their own, not those of impakter.com \u2014 In the Cover Photo: Flag of the United Arab Emirates. Cover Photo Credit: Saj Shafique<\/a> on Unsplash<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Today\u2019s ESG Updates: United Arab Emirates to Leave OPEC: The UAE\u2019s exit from OPEC could add more uncertainty…\n","protected":false},"author":2,"featured_media":417944,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,149244,43,5839,6805,5536,40,38,41,39,1078],"class_list":["post-417943","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-hormuz","tag-news","tag-oil","tag-opec","tag-renewable-energy","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-uae"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/417943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=417943"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/417943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/417944"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=417943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=417943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=417943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}