Current:Home > NewsThe UAE holds a major oil and gas conference just ahead of hosting UN climate talks in Dubai -ProfitBlueprint Hub
The UAE holds a major oil and gas conference just ahead of hosting UN climate talks in Dubai
View
Date:2025-04-27 13:10:47
ABU DHABI, United Arab Emirates (AP) — The Emirati president-designate of the upcoming United Nations COP28 climate talks urged oil and gas companies Monday to be “central to the solution” for climate change, a message delivered even as the industry boosts its production to enjoy rising global energy prices.
The appeal by Sultan al-Jaber highlights the gap between climate activists suspicious of his industry ties and his calls to drastically slash the world’s emissions by nearly half in seven years to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times.
While addressing a major international concern, his remarks came at a marquee oil industry event highlighting the state oil company he oversees — feeding the concerns of those already critical of his appointment while also drawing applause from the same energy firms he wants to court at the upcoming COP28 talks starting in November.
“That is our North Star. It is, in fact, our only destination,” al-Jaber said. “It is simply acknowledging and respecting the science.”
However, he added: “We must do this while also ensuring human prosperity by meeting the energy needs of the planet’s growing population.”
Al-Jaber serves as the CEO of the state-run Abu Dhabi Oil Co., which has the capacity to pump 4 million barrels of crude oil a day and hopes to reach 5 million barrels a day. He also made the call to the annual Abu Dhabi International Petroleum Exhibition and Conference, known by the acronym as ADIPEC, which brings together the largest players in the oil and gas industries.
While this year’s conference has been described as focusing on “decarbonizing faster together,” the event is primarily about the drilling, processing and sale of the same carbon-belching fuels driving climate change — which cause more-intense and more-frequent extreme events such as storms, droughts, floods and wildfires. And al-Jaber himself has repeatedly said the world must rely on oil and gas for the near-term to bridge that gap.
“A phase-down of fossil fuels is inevitable. In fact, it’s essential,” al-Jaber said. “Yet, this must be part of a comprehensive energy transition plan that is fair, that is fast, just, orderly, equitable and responsible.”
But on the business side, the oil industry is on the rebound. After prices briefly went negative during the lockdowns of the coronavirus pandemic, benchmark Brent crude now trades around $92 a barrel.
Diesel prices also are expected to rise as Russia has stopped its exports of the fuel, which likely will worsen global inflation through boosting transportation prices that will get passed onto consumers.
Gazprom, the state-owned natural gas company that is a pillar of Russia’s economy, had a major stand at the conference despite facing U.S. sanctions over Moscow’s war on Ukraine. Russian officials took part in Abu Dhabi’s major arms fair earlier this year, showing the UAE’s deepening financial ties to Moscow despite its long ties to the American military and hosting thousands of U.S. troops.
The conference highlights the challenge the United Arab Emirates has faced in trying to convince already-critical climate scientists, activists and others that it can host the U.N. Conference of the Parties — where COP gets its name.
Though all smiles at Monday’s conference, al-Jaber has acknowledged the withering criticism he’s faced. On Saturday, he offered a full-throated defense of his country hosting the talks he’s slated to lead, dismissing critics who “just go on the attack without knowing anything, without knowing who we are.”
“For too long, this industry has been viewed as part of the problem, that it’s not doing enough and in some cases even blocking progress,” al-Jaber told the conference. “This is your opportunity to show the world that, in fact, you are central to the solution.”
Following immediately after al-Jaber, OPEC Secretary-General Haitham al-Ghais praised his speech and defended the oil industry.
“We see calls to stop investing in oil. We believe this is counterproductive,” al-Ghais said. “The cornerstone of global economic prosperity today is energy security.”
Al-Jaber said 20 oil and gas companies had pledged to be “net zero” by or before 2050 and eliminate routine gas flaring by 2030. However, the industry would still be producing the oil and gas that release the carbon dioxide that traps heat in the atmosphere.
Al-Jaber, a 50-year-old longtime climate envoy, has been behind tens of billions of dollars spent or pledged toward renewable energy by this federation of seven sheikhdoms on the Arabian Peninsula. Al-Jaber and his supporters — including U.S. climate envoy and former Secretary of State John Kerry, who is on a trip to the UAE this week — say that’s a sign he can lead the COP28 talks.
Meanwhile, Turkish Energy Minister Alparslan Bayraktar said at the Abu Dhabi conference that an Iraqi-Turkish oil pipeline that had been halted for months would see its flow restart this week.
“As of today, the pipeline is ready to operate,” he said. “And within this week we will start operating the Iraqi-Turkey pipeline, which after the resuming of oil operations, will be able to supply half a million barrels to the oil market.”
He did not elaborate on what the terms would be for the 970-kilometer (600-mile) pipeline, which is Iraq’s largest. In March, Iraqi officials won an international arbitration case to halt oil exports from the semiautonomous Kurdish region to Ceyhan, Turkey, on the Mediterranean Sea.
Iraqi and regional Kurdish government officials did not immediately acknowledge the pipeline reopening, though Iraq’s oil minister has said it was anticipated, without elaborating. Gulf Keystone Petroleum Ltd., which operates Shaikan oil field in Kurdish region of Iraq, saw its stock jump up by over 20% in trading Monday on the London Stock Exchange on news of the pipeline restarting.
Bayraktar said the pipeline also sustained damage in the recent earthquake and flooding in Turkey that had been repaired.
___
Follow AP’s coverage of the climate and environment: https://apnews.com/climate-and-environment
veryGood! (481)
Related
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- This early Super Bowl commercial from Cetaphil is making everyone, including Swifties, cry
- Nicaragua’s crackdown on Catholic Church spreads fear among the faithful, there and in exile
- Fans turned away, alcohol sales halted at Phoenix Open as TPC Scottsdale reaches capacity
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Kanye West criticized by Ozzy Osbourne, Donna Summer's estate for allegedly using uncleared samples for new album
- $50K award offered for information about deaths of 3 endangered gray wolves in Oregon
- 'Game manager'? Tired label means Super Bowl double standard for Brock Purdy, Patrick Mahomes
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- For Las Vegas, a city accustomed to glitz, Super Bowl brings new kind of star power
Ranking
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Can the NABJ get the NFL to diversify its media hiring practices? The likely answer is no.
- LIVE: Taylor Swift at the Super Bowl with Ice Spice, Blake Lively, Jason Kelce, Donna Kelce
- Taylor Swift's fans track down her suite, waiting for glimpse of her before Super Bowl
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- For Las Vegas, a city accustomed to glitz, Super Bowl brings new kind of star power
- Usher and Longtime Love Jenn Goicoechea Get Marriage License Ahead of Super Bowl Halftime Show
- Paul Rudd, Jay-Z and More Turn Super Bowl 2024 into a Family Game Night
Recommendation
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
Maryland man becomes second winner of $5 million from 50 Years scratch-off game
The Wicked Behind-the-Scenes Drama of the Original Charmed: Feuds, Firings and Feminist Fury
What to know about the Lombardi Trophy, which is awarded to Super Bowl winner
Rylee Arnold Shares a Long
Search continues for suspect in the fatal shooting of a Tennessee deputy; 2 related arrests made
Drop Everything Now and See Taylor Swift Cheer on Travis Kelce at Super Bowl 2024
King Charles III Breaks Silence After Cancer Diagnosis