10 October 2023 - 14:43
  • News ID: 631425
OPEC, oil industry will attend COP28 climate summit: OPEC SG

The world's top oil producers, and representatives from the energy industry, will attend the COP28 climate summit in the United Arab Emirates, the head of the Organisation of Petroleum Exporting Countries (OPEC) said on Tuesday.

OPEC Secretary General Haitham Al Ghais said that anyone who is in energy and cares about the climate should be present at the talks, which are scheduled to take place in Dubai from November 30.

"I hope all voices will be at the table at COP28," Ghais told the Energy Markets Forum in the UAE emirate of Fujairah.

"The oil industry will be at COP and we will be there," he said, adding that he would also attend, Reuters reported.

Ahead of COP28, countries are divided between those demanding a deal to phase out planet-warming fossil fuels, and nations that say coal, oil and natural gas have a continued role combined with technology to capture their emissions.

Ghais said calls for an immediate halt to oil and gas investments were misguided, and would ultimately lead to "energy chaos".

His comments come a day after OPEC raised its world oil demand forecasts for the medium and long term in an annual outlook, saying $14 trillion of investment was needed to meet demand even as renewable fuel use grows and more electric cars take to the road.

The OPEC view contrasts with that of other forecasters, including the International Energy Agency (IEA), that say demand might peak this decade.

News ID 631425


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