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Oil prices rise as Saudi announces output cuts

The oil industry in denial of climate change, despite mounting...

The sooner the industry starts facing up to the realities of climate change, the more chance it has to survive

There is no doubt that despite the targets set for achieving greater self-sufficiency, little action has been taken to ensure an increase in domestic oil output. This is apart from efforts to enhance oil recovery from existing fields through use of advanced technology. But any substantial increase in indigenous production can only be achieved by making investments in exploration in prospective onland and offshore areas

Foreign funding key for raising domestic oil output