COP28 President-Designate Urges Oil and gas industry fast- track energy transitions

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oil and gas industry
oil and gas industry

COP28 President-Designate Dr. Sultan Al Jaber today (Oct 2) called on the oil and gas industry to rally around ambitious decarbonization targets as part of the COP28 Presidency’s Action Agenda to fast-track the energy transition and keep 1.5C within reach.

Speaking at the start of the 2023 Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), the largest and most inclusive energy industry gathering, he reiterated calls on industry to “step up, align around net zero by or before 2050, zero-out methane emissions, and eliminate routine flaring by 2030.” He welcomed recent progress and action from over 20 oil and gas companies, including both international and national oil companies (IOCs and NOCs), which have “positively answered the call” to take the challenging but achievable steps to curb emissions from the production of energy.

Dr. Al Jaber added that “This industry can and must help to drive the solutions. For too long, this industry has been viewed as part of the problem, that it is not doing enough and, in some cases, even blocking progress. This is your opportunity to show the world that, in fact, you are central to the solution.”

The event was attended by HH Shiekh Mansour bin Zayed Al Nahyan, Vice President of the United Arab Emirates, along with 160,000 energy professionals, 2,200 exhibiting companies, 54 NOCs, IOCs, and IECs.

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