Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L) , ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco (2222.SE) , Abu Dhabi National Oil Company and Russia’s Gazprom (GAZP.MM) and Rosneft (ROSN.MM) . It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC). “Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in,” said Amrita Sen from Energy Aspects consultancy. Climate activists scored a major victory with a Dutch court ruling requiring […]