Revealed: UAE plans huge oil and gas expansion as it hosts UN climate summit
(The Guardian, 4 Apr 2023) Exclusive: UAE’s fossil fuel boss will be the president of Cop28, making a mockery of the summit, say campaigners.
The United Arab Emirates, which is hosting this year’s UN climate summit, has the third biggest net zero-busting plans for oil and gas expansion in the world, the Guardian can reveal. Its plans are surpassed only by Saudi Arabia and Qatar.
The CEO of the UAE’s national oil company, Adnoc, has been controversially appointed president of the UN’s Cop28 summit in December, which is seen as crucial with time running out to end the climate crisis. But Sultan Al Jaber is overseeing expansion to produce oil and gas equivalent to 7.5bn barrels of oil, according to new data, 90% of which would have to remain in the ground to meet the net zero scenario set out by the International Energy Agency.
Adnoc is the world’s 11th biggest oil and gas producer and delivered more than a billion barrels of oil equivalent (BBOE) in 2021. However, the company has big short-term expansion plans, the new analysis shows, with plans to add 7.6 BBOE to its production portfolio in the coming years – the fifth largest increase in the world.
The data was produced for the Guardian by Urgewald, a German NGO, from its Gogel database. This is based on data from Rystad Energy, the industry standard source but not available to the public, and accessed in September 2022.
The Guardian, 4 Apr 2023: Revealed: UAE plans huge oil and gas expansion as it hosts UN climate summit