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OPEC Secretary General, HE Haitham Al Ghais, stressed that technological innovation will play a critical role in reducing emissions.<\/h5>\n
The Secretary General stated this at the opening of the 30th Annual Middle East Petroleum and Gas Conference (MPGC 2023), which is taking place on 22-23 May 2023 in Dubai, United Arab Emirates (UAE).<\/p>\n
In his opening remarks, the Secretary General expressed OPEC\u2019s appreciation to the UAE for its climate leadership in the run-up to hosting COP28.<\/p>\n
\u201cThe President of the UAE, HH Sheikh Mohamed bin Zayed Al Nahyan, announced at the beginning of the year that 2023 will be the \u2018Year of Sustainability\u2019. This reflects this country\u2019s longstanding commitment to sustainable practices and international cooperation to address the challenges of our times,\u201d the Secretary General said, adding, \u201cThe culmination of the \u2018Year of Sustainability\u2019 will be Dubai\u2019s hosting of the COP28, which represents a moment of tremendous pride for OPEC.\u201d<\/p>\n
The Secretary General emphasized that energy security for all and decarbonization must go hand-in-hand, which require major investments in all energies.<\/p>\n
Additionally, the Secretary General highlighted the consequences of divestment or underinvestment in the oil industry: causing market volatility, endangering energy security, imperilling economic growth and jeopardizing sustainable development.<\/p>\n
\u201cI believe that the industry must recognize and be proud of what it has been doing in terms of ensuring global energy security and reducing emissions across the board,\u201d the Secretary General stated.<\/p>\n
The Secretary General highlighted the efforts of OPEC Member Countries in reducing emissions through adopting innovative approaches, such as the circular carbon economy, adding that technological innovation will play a critical role in reducing emissions.<\/p>\n
\u201cThe reality is that oil and gas will continue to be an integral part of the energy mix for the foreseeable future,\u201d the Secretary General added.<\/p>\n<\/p><\/div>\n
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