ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Climate Change

Divestment in oil industry adding to global pollution problems

Transfer of green tech to sector slows as Chinese, Russian firms takeover

Air quality in Basra, Iraq is extremely poor as oil refineries continuously flare toxic gas.   © Reuters

DUBAI -- Concerns are growing over the oil industry's lack of decarbonization efforts in the Middle East and Africa amid few technology transfers needed to reduce greenhouse gasses and more rapid U.S. and European divestment in the sector.

Oil assets divested by western companies in their decarbonization drive are often taken over by state-run companies in oil-producing nations, as well as Chinese and Russian companies. The new management is mostly prioritizing near-term profits, raising fears of more pollution since the entities are shielded from scrutiny by shareholders and the international community.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more