Oil will continue as the fuel with the largest share of the global energy mix until 2045, according to the World Oil Outlook 2045 of the Organization of the Petroleum Exporting Countries (OPEC) published on Tuesday.

Oil demand will increase by 13.8 million barrels per day (bpd) to 104.4 million barrels by 2026 and by 17.6 million bpd to 108.2 million bpd in 2045, OPEC forecast.

“Despite decelerating oil demand growth in the second part of the forecast period and strong growth in other energy sources, such as other renewables, gas and nuclear, oil is expected to retain the highest share in the global energy mix during the entire period,” it said.

Oil accounted for 30% of global energy requirements in 2020 but this will gradually decline to 28% by 2045, OPEC said.

Over the medium-term period between 2020 and 2026, almost 80% of this incremental demand will materialize within the first three years, primarily as part of the recovery process from the COVID-19 crisis, according to OPEC.

-Other renewables and natural gas will contribute most to future energy mix

Demand for other renewables is projected to expand from 6.8 million bpd in 2020 to 36.6 million bpd in 2045, representing the single-largest incremental contribution to the future energy mix, according to OPEC.

As the fastest-growing energy source, its share in the global primary energy mix will be above 10% in 2045, up from just 2.5% in 2020. Falling costs and policies focused on reducing emissions are driving this renewables demand.

-Higher oil demand expected in non-OECD countries

Oil demand in OECD countries is predicted to rise by over 4 million bpd, OPEC said. However, this increase alone will not be enough to restore demand levels seen before COVID-19. Over the medium run, non-OECD demand is expected to rise by over 10 million bpd, with roughly half of this growth needed to counteract demand declines in 2020.

In contrast, OPEC said oil demand is set to continue to grow in the non-OECD region driven by an expanding middle class, high population growth rates and stronger economic growth potential. Demand in these countries is expected to increase by 25.5 million bpd between 2020 and 2045 to reach 74.1 million bpd in 2045.

-Road transportation, aviation sectors to lead demand rise

Between 2020 and 2045, the transportation sector is expected to contribute the most to future incremental demand, generating 13 million bpd.

“More than 90% of this increase is projected to come from the road transportation and aviation sectors, each contributing around 6 million bpd,” OPEC said, highlighting that a large part of these increases between 2020 and 2045 is due to the sharp demand decline in these two sectors in 2020.

- Electric vehicles growth to limit long-term oil demand

The total vehicle fleet is expected to reach 2.6 billion by 2045, increasing by around 1.1 billion from the 2020 level, OPEC said, adding that electric vehicles (EVS) are set to approach 500 million by 2045, representing almost 20% of the global fleet.

Some growth is also projected for natural gas vehicles (NGVs), with an expected increase of 80 million projected between 2020 and 2045.

As a result, OPEC said internal combustion engine (ICE) vehicles are set to maintain their leading role in the composition of the global fleet, which is projected to constitute about 76% of the global vehicle population by 2045, largely sustained by the fleet size increase in developing regions.

These developments are expected to keep road transportation oil demand in a narrow range of 46 million bpd to 46.5 million bpd after 2025.

-US tight oil to be key driver of demand growth

Estimated to peak at 15.2 million bpd in the late 2020s, tight oil production in the US is expected to rise from 11.5 million bpd in 2020 to 14.8 million bpd in 2026.

-Some $11.8 trillion oil-related investment required

Cumulative investments in the oil sector of $11.8 trillion are required up to 2045, OPEC said.

“Of this, 80% or $9.2 trillion, is directed towards the upstream, the bulk of which is in North America, as US tight oil, in particular, drives medium-term non-OPEC supply growth. Downstream and midstream investment needs, in order to expand and maintain the associated refinery, storage and pipeline systems required to bring oil to market, necessitate another $1.5 and $1.1 trillion, respectively,” it added./aa

Paris Saint-Germain beat Manchester City 2-0 Tuesday in a UEFA Champions League Group A match. 

PSG took the lead in the eighth minute with a goal by Idrissa Gueye and Lionel Messi scored his first-ever goal for the team in the 74th minute at the Parc des Princes in Paris.

In another group A clash, Club Brugge KV claimed a 2-1 away victory over Leipzig.

Following the results, the Parisians are at the top of the group with four points while Club Brugge are in second spot with the same number of points.

Third placed Manchester City have three points and fourth placed Leipzig did not collect a point.

Also, Real Madrid suffered a shock 2-1 defeat to Moldovan club Sheriff at the Estadio Santiago Bernabeu.

- Tuesday results:

Group A:

Paris Saint-Germain - Manchester City: 2-0

Leipzig - Club Brugge KV: 1-2

Group B:

Porto - Liverpool: 1-5

Milan- Atletico Madrid: 1-2

Group C:

Ajax - Besiktas: 2-0

Borussia Dortmund - Sporting CP: 1-0

Group D:

Shakhtar Donetsk - Inter Milan: 0-0

Real Madrid - Sheriff: 1-2

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Northern Ireland’s Unionist parties formed an alliance against the contentious Northern Ireland Protocol of the wider EU Withdrawal Agreement, signing a statement that warns of the damage the settlement will do to the region. 

Political leaders of the four rival parties, including the ruling Democratic Unionist Party (DUP) as well as the Ulster Unionists, joined hands in demanding an end to the settlement that they see as a major barrier to their connection to the rest of the UK as well as an obstacle to peace in the region.

“We, the undersigned Unionist Political Leaders, affirm our opposition to the Northern Ireland Protocol, its mechanisms and structures and reaffirm our unalterable position that the Protocol must be rejected and replaced by arrangements which fully respect Northern Ireland’s position as a constituent and integral part of the United Kingdom,” said the statement.

“The huge disruption of trade in the supply of goods from Great Britain to Northern Ireland has caused unnecessary supply chain disruption and unacceptable and unsustainable levels of bureaucracy and barriers to trade within our own nation. The resulting diversion and reorientation of trade is destructive of Northern Ireland’s place in the United Kingdom and will result in an economic realignment which is unacceptable,” it added.

The formation of the alliance and the publishing of a joint declaration against the protocol is intended to show the region’s general dislike for the Brexit deal’s appendage and that the DUP’s hardline position on the settlement is not unusual or isolated, rather it is shared by other like-minded parties.

The alliance made clear the damage the protocol is doing to Northern Ireland and has argued that cordial relations between the region and the EU cannot be achieved as long as EU laws are still in force. Under the protocol, Northern Ireland effectively remains in the EU’s Single Market and Customs Union, a fact that is aggravating to unionists.

“Northern Ireland is a constituent part of the United Kingdom of Great Britain and Northern Ireland by reason of the Acts of Union 1800 and the continuing express will of its people. The Union is both economic and political,” it said,

Earlier this year, the British government suspended certain parts of the protocol after it decided to extend a grace period for checks on goods crossing the Irish Sea from the UK mainland to Northern Ireland. The EU, however, is expected to publish new proposals to meek London’s demands and has promised not to take any retaliatory actions following the suspension.

The Northern Ireland Protocol has effectively erected a trade barrier between the UK and Northern Ireland. Goods from the mainland will have to go through customs checks under the new rules whereas those arriving in Ireland from the North will face no trade barriers.

Northern Irish unionists see the settlement as an affront to their identity and existence in the troubled region and argue that the agreement distances them from the UK, to whom they are loyal./aa

A court in South Africa sentenced a Congolese pastor to 37 years for multiple rape counts and sexual assault involving five members of his congregation, media reports said Tuesday.

Pastor Bafomba Willy Emeka 48, of the God Is Love Ministry, was found guilty by the Gauteng High Court in Pretoria last week and sentenced Monday. according to the IOL news website.

He was found guilty of 19 counts of rape, three counts of sexual assault, illegally living in the country and possessing a fake permanent residence permit, it said.

The pastor was found guilty of raping five women in his congregation between 2015 and 2018. He was arrested in 2018.

Several Pentecostal pastors in South Africa are facing legal battles for various offenses including rape and fraud, including 62-year-old Nigerian televangelist Timothy Omotoso, who is accused of raping young girls at his church for years. His trial has been televised since 2018. He denies the allegation.

Another well-known Christian preacher in hot water is Malawian Shepherd Bushiri, who fled South Africa last year after being charged with fraud and money laundering involving 102 million South Africa rand ($6.6 million). He fled shortly after posting bail./aa

The World Health Organization chief called Tuesday for "delinking travel from trade restrictions" during global public health emergencies, saying $2.4 billion vaccines are needed for those most at risk of the COVID-19 pandemic.

WHO Director-General Tedros Ghebreyesus was speaking at the opening of the Public Forum 2021 at the World Trade Organization titled Trade Beyond COVID-19: Building Resilience.

WTO head Ngozi Okonjo-Iweala and South African President Cyril Ramaphosa also addressed the event.

"Right now, $2.4 billion of COVID-19 vaccines are needed to vaccinate the world's most at-risk people, like health workers, the elderly, those with underlying conditions, and other vulnerable groups.

"The vaccines exist, but they're still not reaching the people who need them most."

Delinking travel from trade restrictions

The WHO chief said the World Health Assembly this year called for "delinking travel from trade restrictions" during public health emergencies of international concern, the WHO's most serious ranking of health risks.

The goal is to maximize the effectiveness of public health measures while minimizing their negative economic impacts.

"This includes facilitating the manufacture and movement of critical medical supplies," said Tedros.

"We need to support the capacities of all countries to roll out COVID-19 vaccines and … finally, WHO looks forward to continuing collaboration with the World Trade Organization, and all member states, to lower the barriers to trade and travel during health emergencies."

WTO's Ngozi said: "The trading system can and must do more to reduce vaccine inequity and to help us tackle pressing challenges elsewhere, from our oceans to our climate."

She said that is why it is essential to deliver results at the WTO in the weeks remaining before its 12th Ministerial Conference.

Ngozi praised Ramaphosa for actively pursuing investment in Africa while also strongly advocating for intellectual property waiver.

She said the pharmaceutical company Pfizer-BioNTech will invest in a South African company to produce 100 million COVID-19 vaccine doses each year.

"The WTO has a central role in addressing trade and intellectual property-related barriers to boost and diversify production of vaccines, diagnostics, as well as therapeutics," said Ramaphosa in his address.

"Passing a time-bound, targeted TRIPS (Trade-Related Aspects of Intellectual Property Rights) waiver, as proposed by South Africa and India, and now supported by many countries around the world, is urgent if we are to save millions of lives."

He said such a move would be a proportionate response to the exceptional circumstances presented by the COVID-19 pandemic.

"Unequal access to vaccines presents a huge risk to sustain the global recovery," said the South African president./aa

Paris Saint-Germain will face Manchester City on Tuesday in the UEFA Champions League Group A match, with Argentine superstar Lionel Messi in the squad. The two sides meet for the sixth time in a European competition.

Manchester City claimed a 6-3 home win against RB Leipzig in the opener match. Ranked 2nd in the Premier League with 13 points, they remain unbeaten in their past 10 away games in the Champions League.

The PSG were held to a 1-1 away draw with Club Brugge in their opener, but dominate Ligue 1 with nine points, ahead of second-placed Lens with 24 points in eight matches.

Match of day to start at 1900 GMT

The PSG have claimed their last six competitive games at Parc des Princes since losing 2-1 to Manchester City on April 28.

Manchester City will be without some key players due to injury: Sergio Ramos and Ilkay Gundogan. Idrissa Gueye is suspended.

A total of six stars have played for both the teams: Nicolas Anelka, Ali Benarbia, Djamel Belmadi, Sylvain Distin, Alioune Toure, and George Weah.

The match of the day will kick off at 1900 GMT at Parc des Princes in Paris./aa