Davos: Oil Is 'Under siege', Future Is Uncertain

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure is rising and the industry is losing a battle not to be seen as one of the world’s biggest evils. The answer? Lure investors with higher returns and raise the PR game.
“There is no doubt - and there is a consensus coming here in various meetings in Davos - that our industry is literally under siege and the future of oil is at stake,” said Mohammed Barkindo, secretary-general of oil producer group OPEC. “The industry needs to come together and respond positively with facts and figures. We are not shying away from the fact that we have not been able to communicate well,” Barkindo said. The industry gathered on the sidelines of the World Economic Forum, holding a series of closed-door meetings.

  • Like 1

Share this post


Link to post
Share on other sites