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☆ Abu Dhabi AI firm Presight buys majority stake in technology joint venture AIQ
▼ + stars: | 2024-05-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates. DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, a major Abu Dhabi-based AI and cloud company. The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release. ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services. AIQ uses AI and machine learning to improve processes in the oil and gas industry.

Persons: Presight, ADNOC, CNBC's Dan Murphy, Chris Cooper, We've, Cooper Organizations: United, United Arab Emirates, Abu Dhabi National Oil Company Locations: Harbour, Abu Dhabi, United Arab, DUBAI, AIQ, Presight, ADNOC

☆ BP and Abu Dhabi National Oil Company suspend major purchase in Israeli gas firm
▼ + stars: | 2024-03-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

DUBAI, United Arab Emirates — Plans for a 50% stake purchase by energy major BP and Abu Dhabi National Oil Company (Adnoc) in Israeli gas producer NewMed are on hold because of regional turbulence, NewMed said Wednesday. The three companies "have agreed, due to the uncertainty created by the external environment, to suspend discussions in relation to the proposed transaction," a NewMed statement said. The statement also said that BP and Adnoc "reiterated [their] interest in the proposed transaction," indicating that the deal was not permanently off the table. At the time, BP and Adnoc said that the deal would result in a joint venture from the two companies to focus on "gas development in international areas of mutual interest including the East Mediterranean." The two companies last month announced a separate gas joint venture in Egypt.

Persons: NewMed, Adnoc Organizations: Abu, Abu Dhabi National Oil Company, Tel, BP, CNBC Locations: Nasholim, DUBAI, United Arab Emirates, Abu Dhabi, Tel Aviv, Egypt

☆ Saudi Aramco Abruptly Drops Plans to Expand Oil Production
▼ + stars: | 2024-01-30 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

Saudi Aramco said Tuesday that it would call off plans to expand its oil output, a remarkable turnaround by one of the world’s leading petroleum producers. Aramco, the national oil company of Saudi Arabia, said it had been directed by the government in Riyadh to maintain its “maximum sustainable capacity” of crude oil production at 12 million barrels a day, and give up a drive to increase it to 13 million barrels a day by 2027, a plan announced several years ago. But it could be a sign that the Saudis are changing their thinking about future supply and demand for their oil. Global oil supplies have recently been stronger than the Saudis anticipated because of strong growth in output from shale drilling in the United States, which is now the world’s leading oil producer, and other sources. “The decision probably reflects a view that the world does not need as much Saudi oil as was previously expected,” said Neil Beveridge, an analyst at Bernstein, a research firm.

Persons: ”, Neil Beveridge, Bernstein Organizations: Saudi Aramco, Aramco Locations: Saudi, Saudi Arabia, Riyadh, United States

☆ BP appoints Murray Auchincloss as permanent CEO
▼ + stars: | 2024-01-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

BP CEO Murray Auchincloss speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on October 2, 2023. LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday. The energy company said it carried out a search process to appoint the new company boss since September. "It's an honour to lead BP — this is a great company with great people. Our strategy — from international oil company to integrated energy company, or IOC to IEC — does not change.

Persons: Murray Auchincloss, Bernard Looney, Auchincloss, Murray, Helge Lund, I'm Organizations: Abu, Abu Dhabi International Petroleum Exhibition, ADNEC, BP, Amoco Canada, IEC Locations: Abu Dhabi

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta,” Zoe Yujnovich, Shell’s integrated gas and upstream director, said in a statement. The assets that Shell is selling are largely owned by the Nigerian government’s national oil company NNPC, which holds a 55% stake. However, pollution from oil and natural gas production has prevented residents from accessing clean water, hurt farming and fishing, and heightened tensions. Despite joint military operations and a government benefits program for former militants that accompanied the amnesty deal, the Niger Delta remains volatile. The oil industry faces risks of violence, including pipeline vandalism by oil thieves, whom companies often blame for oil spills.

Persons: — Shell, Shell, Zoe Yujnovich, France's TotalEnergies, ”, Ledum Mitee, Dumnamene Organizations: Shell, Aradel Energy, Nigerian, Eni, Movement, Ogoni, Youths, Environmental Advocacy, AP Locations: ABUJA, Nigeria, Niger Delta, West, London, Ogoni People, Niger, Guinea

☆ Tackling Climate Change in the Birthplace of Oil
▼ + stars: | 2024-01-11 | by ( Manuela Andreoni | More About Manuela Andreoni | ) www.nytimes.com time to read: +1 min

For the second year in a row, the United Nations climate summit known as COP will take place in a petrostate. COP29 will be in Baku, Azerbaijan, and overseen by Mukhtar Babayev, who worked for more than two decades at Socar, Azerbaijan’s state-owned oil company. There’s a precedent: Last year’s climate summit was controversially hosted by the United Arab Emirates and led by Sultan Al Jaber, who also runs the Abu Dhabi National Oil Company. It remains to be seen whether Babayev, a former low-ranking executive who is now Azerbaijan’s environment minister, will have the same impact. But there is also a poignant historical resonance to COP29: By some measures, Azerbaijan is where the modern oil industry began.

Persons: Mukhtar Babayev, There’s, Sultan Al Jaber, Al Jaber’s, COP28 Organizations: United Arab, Abu, Abu Dhabi National Oil Company Locations: United Nations, Baku, Azerbaijan, Socar, Azerbaijan’s, United Arab Emirates, Abu Dhabi

☆ ‘Bad case of déjà vu’: Oil industry veteran to lead next round of UN climate talks in Azerbaijan
▼ + stars: | 2024-01-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Azerbaijan's Minister for ecology and natural resources and formerly an executive at state oil company SOCAR Mukhtar Babayev (C) visits at the Norm cement plant in Baku, on February 23, 2023. Azerbaijan named on January 5, 2024, Mukhtar Babayev minister to preside over the November 2024 COP29 meeting, in Baku, on January 6, 2024. A former executive of Azerbaijan's state-owned oil and gas firm SOCAR has been picked to lead U.N. climate talks in Baku later this year, prompting critics to decry a "bad case of déjà vu." It means that a minister with vast experience in oil and gas will lead negotiations at the U.N.'s biggest and most important annual climate conference for the second consecutive year. Campaign group Global Witness said Babayev's appointment as the person to lead COP29 discussions was a "bad case of déjà vu."

Persons: SOCAR Mukhtar Babayev, Mukhtar, decry, Mukhtar Babayev, Babayev, Jaber, COP28, Alice Harrison, Harrison Organizations: Norm, United, Emirates, Abu, Abu Dhabi National Oil Company, Global, United Nations, CNBC Locations: Baku, Azerbaijan, Azerbaijan's, Sultan Al, Dubai, Abu Dhabi

☆ Opinion: What do you expect when an oil executive runs the climate talks?
▼ + stars: | 2023-12-05 | by ( Opinion John D. Sutter | ) edition.cnn.com time to read: +6 min

CNN —As someone who’s been reporting on the climate crisis for more than a decade, I can say that the most insidious threat to climate action isn’t denial or apathy. That’s tragic, especially in light of the long and frustrating history of fossil fuel interests injecting doubt into policy conversations about the climate crisis. The broad strokes of climate science have been well understood for several decades now. The fallout of that doubt still haunts political conversations about the climate crisis today. In the United States, only 35% of adults talk about the climate crisis at least occasionally, according to a 2021 survey from the Yale Program on Climate Change Communication.

Persons: John D, Sutter, Ted Turner, Read, who’s, Sutter Beth Mickalonis, Sultan Al Jaber, Al Jaber, Mary Robinson, ”, Al Jaber’s, It’s Organizations: Environmental Media, George Washington University, CNN, COP28, United, Abu, Abu Dhabi National Oil Company, “, The Guardian, UN, Programme, Sutter, Yale Locations: Dubai, United Arab Emirates, Abu Dhabi, UN, Paris, United States

☆ COP28 president sparks outcry after claims there’s ‘no science’ behind fossil fuel phase out
▼ + stars: | 2023-12-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Sultan Al-Jaber, chief executive officer of Abu Dhabi National Oil Co. and president of COP28, speaks in Dubai, United Arab Emirates, on Saturday, Dec. 2, 2023. Dubai, UNITED ARAB EMIRATES — COP28 President Sultan Al-Jaber is facing a backlash over his claim that there is "no science" behind calls for a phase out of fossil fuels — a demand that many believe will ultimately determine the success of the U.N. climate conference. In comments first reported on Sunday by The Guardian and investigative journalism organization the Centre for Climate Reporting, COP28 president and United Arab Emirates climate chief Al-Jaber suggested a fossil fuel phase out would not allow sustainable development "unless you want to take the world back into caves." He added that he'd been surprised by the "constant and repeated attempts to undermine the work of the COP28 presidency." "The COP President is clear that phasing down and out of fossil fuels is inevitable and that we must keep 1.5°C within reach.

Persons: Sultan Al, Jaber, Abu, Michael Mann, Al, U.N, Antonio Guterres, he'd Organizations: Abu Dhabi National Oil Co, COP28, UNITED, EMIRATES —, The Guardian, Climate, United, Al, University of Pennsylvania, Abu, Abu Dhabi National Oil Company, CNBC Locations: Abu Dhabi, Dubai, United Arab Emirates, Al

Climate concerns boil overTensions are rising on Monday over contentious comments by Sultan Ahmed al Jaber, the oil executive and Emirati politician presiding over the COP28 climate summit. His skepticism about the world’s ability to halt a rise in global temperatures by reducing the use of hydrocarbons is casting fresh doubts over the U.A.E.’s commitment to addressing the climate crisis. “There is no science out there, or no scenario out there, that says that the phaseout of fossil fuel is what’s going to achieve 1.5 C,” he said at an event before the summit. The controversy revived concerns about his role as leader of COP28, given that he is also the chairman of the Abu Dhabi National Oil Company. Al Jaber has long contended that fossil fuel companies should play a prominent role in the world’s energy transition to bring down global temperatures.

Persons: Sultan Ahmed al Jaber, Al Jaber, ”, COP28 Organizations: Abu Dhabi National Oil Company Locations: Abu Dhabi

☆ John Kerry responds to COP28 president's claim there's 'no science' behind fossil fuel phase out
▼ + stars: | 2023-12-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The remarks, which were made by Al-Jaber during a live online event on Nov. 21, were described as "farcical" by climate scientists. Asked to respond to Al-Jaber's comments, Kerry replied, "That's not the argument." watch nowA spokesperson for COP28 wasn't immediately available to comment when asked about Al-Jaber's comments. A spokesperson for COP28 told The Guardian: "The IEA and IPCC 1.5C scenarios clearly state that fossil fuels will have to play a role in the future energy system, albeit a smaller one. A "phase out" commitment would likely require a shift away from fossil fuels until their use is eliminated, while a "phase down" could indicate a reduction in their use — but not an absolute end.

Persons: John Kerry, Sean Gallup, Sultan Al, Jaber, Kerry, That's, CNBC's Tania Bryer, COP28 wasn't, COP28 Organizations: U.S, Getty, Getty Images, UNITED, EMIRATES —, The Guardian, Climate, COP28, United, Al, Guardian, United Arab Emirates, Abu, Abu Dhabi National Oil Company Locations: China, UAE, Nigeria, Dubai, Getty Images Dubai, EMIRATES — U.S, United Arab Emirates, Al, Abu Dhabi

☆ Al Gore Slams COP28 Climate Summit Host UAE, Says Its Emissions Soared
▼ + stars: | 2023-12-03 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +2 min

By Valerie VolcoviciDUBAI (Reuters) - Climate advocate and former U.S. Vice President Al Gore on Sunday slammed the UAE - host of the COP28 climate summit - saying its position as overseer of international negotiations on global warming this year was an abuse of public trust. "They are abusing the public's trust by naming the CEO of one of the largest and least responsible oil companies in the world as head of the COP," Gore said. That data came from a coalition he co-founded called Climate TRACE, which uses artificial intelligence and satellite data to track carbon emissions of specific companies, Gore said. Gore urged delegates to agree to language in the final text issued at the summit to phase out fossil fuels, without caveats or mentions of carbon capture technology. "The current state of the technology for carbon capture and direct air capture is a research project," Gore said.

Persons: Valerie Volcovici DUBAI, Al Gore, Sultan al, Jaber, Gore, Darren Woods, There's, Valerie Volcovici, Will Dunham Organizations: Reuters, U.S, Sunday, Democratic Party's, Exxon Mobil Locations: UAE, Dubai

The hundreds of fossil fuel-connected people make up just a tiny share of the 90,000 people who registered to attend the climate summit known as COP28. “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies,” al-Jaber said. COP28 comes as the planet faces a mounting imperative to reduce greenhouse gas emissions. David Hone, Shell's chief climate adviser, is in Dubai for at least his 17th appearance at the annual climate talks. At the moment, it's preventing about 0.1% of the energy sector's carbon emissions from reaching the atmosphere, according to the IEA.

Persons: Bob Deans, Deans, Sultan al, Jaber, “, ” al, COP28, TotalEnergies, Paul Naveau, Patrick Pouyanné, ” Naveau, Naveau, Shell, that's, ”, Arthur Lee, David Hone, Hone, Rachel Rose Jackson Organizations: The United Nations, U.S, Resources Defense, United Arab Emirates, Global, Coalition, Shell, TotalEnergies, BP, AP, Nations, UN, didn't, ”, International Energy Agency, IEA, Chevron, Corporate Locations: United Nations, Dubai, Chevron, Shell's

☆ Climate summit leader said there’s ‘no science’ behind need to phase out fossil fuels, alarming scientists
▼ + stars: | 2023-12-03 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

CNN —The president of the COP28 climate summit, Sultan Al Jaber, recently claimed there is “no science” that says phasing out fossil fuels is necessary to limit global warming to 1.5 degrees Celsius above pre-industrial levels, in comments that have alarmed climate scientists and advocates. The future role of fossil fuels is one of the most controversial issues countries are grappling with at the COP28 climate summit. Al Jaber was asked by Mary Robinson, former president of Ireland and current chair of the Elders Group, an independent group of global leaders, if he would lead on phasing out fossil fuels. While some argue carbon capture will be an important tool for reducing planet-heating pollution, others argue these technologies are expensive, unproven at scale and a distraction from policies to cut fossil fuel use. “They are not going to get any help from the COP Presidency in delivering a strong outcome on a fossil fuel phase out,” he said in a statement.

Persons: Sultan Al Jaber, Al Jaber, Mary Robinson, Robinson, ”, Al Jaber’s, what’s, Romain Ioualalen, Al, ” Joeri, Mohamed Adow, Angela Dewan, Rachel Ramirez Organizations: CNN, ”, Guardian, Elders Group, Abu, Abu Dhabi National Oil Company, UN, International Energy Agency, IEA, Stockholm Environment Institute, Change, Imperial College London Locations: Paris, “, Abu Dhabi, Stockholm, UN, UAE

Former U.S. Vice President Al Gore speaks during an interview with Reuters at the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 3, 2023. REUTERS/Amr Alfliky Acquire Licensing RightsDUBAI, Dec 3 (Reuters) - Climate advocate and former U.S. Vice President Al Gore on Sunday slammed the UAE - host of the COP28 climate summit - saying its position as overseer of international negotiations on global warming this year was an abuse of public trust. "They are abusing the public's trust by naming the CEO of one of the largest and least responsible oil companies in the world as head of the COP," Gore said. That data came from a coalition he co-founded called Climate TRACE, which uses artificial intelligence and satellite data to track carbon emissions of specific companies, Gore said. "The current state of the technology for carbon capture and direct air capture is a research project," Gore said.

Persons: Al Gore, Amr Alfliky, Sultan al, Jaber, Gore, Darren Woods, There's, Valerie Volcovici, Will Dunham Organizations: U.S, Reuters, United Nations, Change, United Arab Emirates, REUTERS, Rights, Sunday, Democratic Party's, Exxon Mobil, Thomson Locations: Dubai, United Arab, UAE

☆ UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock, Brookfield
▼ + stars: | 2023-12-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sultan Ahmed Al Jaber, President of the UNFCCC COP28 Climate Conference, attends a press conference following the opening session of the conference on November 30, 2023 in Dubai, United Arab Emirates. The United Arab Emirates on Friday said it would contribute $30 billion to a new climate-oriented fund, with finance juggernauts BlackRock, Brookfield and TPG stepping in as inaugural launch partners. Its activity will center on areas including the energy transition, industrial decarbonization and climate technology. The announcement was made on the second day of the COP28 climate summit in the UAE. COP28 President Sultan al-Jaber, who also serves as chief executive of the Abu Dhabi National Oil Company (ADNOC), will chair the board of Alterra.

Persons: Sultan Ahmed Al Jaber, Sultan al, Jaber Organizations: Conference, United Arab Emirates, United, juggernauts BlackRock, TPG, Global, Abu Dhabi National Oil Company Locations: Dubai, United Arab, Brookfield, Latin America, Asia, Africa, Oceania, UAE, Abu Dhabi

WHAT'S HAPPENED SINCE THE LAST ONEThe world has gotten hotter since last year’s conference in Egypt. Burning fossil fuels that sends carbon into the atmosphere remains the main cause of global warming, and production continues to grow. Climate campaigners say efforts to develop wind, solar and other alternative energies are not going fast enough. Global warming has vast implications: It can upend local economies, worsen weather patterns, drive people to migrate, and cause havoc for Indigenous peoples who want to retain their traditional cultures, among many other impacts. Many want to know if oil-rich Gulf states will pony up more money to help developing countries adapt to climate change and switch to greener technologies.

Persons: ”, Petteri Taalas, Daniel, Hurricane Otis pummeled, King Charles, Narendra Modi, John Kerry, Olaf Scholz, Pope Francis, Sultan al, Jaber, Antonio Guterres Organizations: United Arab Emirates, Hamas, United, 28th “ Conference, Hurricane Otis, Indian, Cargill, AP Locations: DUBAI, United Arab, Israel, Dubai, United Arab Emirates, COP28, WHAT'S, Egypt, Brazil, India, Libya, Hurricane Otis pummeled Mexico, Europe, Paris, Abu Dhabi, Tokyo, Tegucigalpa, Timbuktu, Ukraine, Gaza, Antarctica, Argentina, Uruguay, ___

☆ Welcome to COP28, the U.N. Climate Conference Hosted by an Oil Giant
▼ + stars: | 2023-11-29 | by ( Ed Ballard | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

Dubai, a desert city known for private jets, giant yachts and other symbols of carbon-heavy high living, is an awkward location for a conference on climate change. It’s hardly a surprise that the man in charge also runs the national oil company. Hosting the United Nations’ annual climate confab—known as COP28—is the latest step in the United Arab Emirates’ bid to establish itself as a global power broker. The gambit is drawing attention to the country’s Jekyll-and-Hyde energy strategy.

Persons: Jekyll Organizations: United Nations, United, United Arab Emirates Locations: Dubai, United Arab

Darren Woods, CEO of ExxonMobil, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsHOUSTON, Nov 29 (Reuters) - Exxon Mobil Corp (XOM.N) Chief Executive Darren Woods is making plans to attend the COP28 climate summit in Dubai next week, two people familiar with the matter said, in what would mark a first for an Exxon CEO, if confirmed. Woods is expected to advocate that reducing carbon emissions should be a priority in addressing climate change, rather than reducing oil production. "We commit to solving the world’s energy and emissions challenges simultaneously," Darren Woods said at the APEC CEO summit earlier this month. Exxon says technology advancements allowed it to join the initiative and that the decision guards no relation with Pioneer's acquisition.

Persons: Darren Woods, Carlos Barria, Woods, Sultan al, Jaber, Exxon's, Matt Kolesar, Sabrina Valle, Sarah McFarlane, Josie Kao, Aurora Ellis Organizations: ExxonMobil, Economic Cooperation, REUTERS, Rights, Exxon Mobil Corp, Exxon, APEC, Abu, Abu Dhabi National Oil Company, United, Natural Resources, Gas Methane Partnership, Reuters, United Nations Environment Programme, Shell, BP, Conoco, Chevron, Thomson Locations: Asia, San Francisco , California, U.S, Dubai, Abu Dhabi, United Nations, OGMP, Occidental

☆ A showdown is brewing over money, oil and carbon. Here's what's at stake at the COP28 climate summit
▼ + stars: | 2023-11-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +8 min

Global temperatures and greenhouse gas emissions continue to break records, with no continent left untouched by more frequent and intense extreme weather events. MoneyClimate finance is always a hotly debated talking point at the U.N. summit and COP28 promises to be no different. She anticipated three main debates around the use of oil, gas and coal — the burning of which is the chief driver of the climate crisis. "So, one is this 'phase out' or 'phase down' [of fossil fuels]. There is no credible scenario where CCS will allow continued use of fossil fuels, let alone expanding oil and gas.

Persons: Sean Gallup, HENRY NICHOLLS, Henry Nicholls, COP28, Alex Scott, Rich, Sultan al, Jaber, LUIS TATO, Luis Tato, Melanie Robinson, Robinson, Sultan Al Jaber, Francois Walschaerts Organizations: AG, Getty, United Arab Emirates, InterContinental, Fossil, Energy Intelligence, Afp, Organization for Economic Cooperation, Development, Getty Images, Abu, Abu Dhabi National Oil Company, Climate, World Resources Institute, CNBC, CCS Locations: Salzgitter, Germany, Dubai, Bonn, COP28, London, AFP, E3G, Egypt, COP27, UAE, Garissa, Africa, El Nino, Abu Dhabi, WRI, Brussels

☆ COP28 leader hits back at allegations he used climate talks to strike oil deals
▼ + stars: | 2023-11-29 | by ( Angela Dewan | ) edition.cnn.com time to read: +2 min

CNN —The COP28 president-designate Sultan Al Jaber has strongly denied accusations that his team sought to use the international climate talks in Dubai to strike fossil fuel deals for the UAE’s state-owned oil and gas company. Al Jaber also runs the Abu Dhabi National Oil Company (ADNOC). “These allegations are false, not true, incorrect, and not accurate,” he said at a press conference in Dubai on Wednesday. Al Jaber emphasized that all of his meetings with officials were squarely focused on his COP28 agenda. He added that he was often given conflicting advice on whether he should engage with oil and gas companies in his role.

Persons: Sultan Al Jaber, Al Jaber, ” Al Jaber, ”, ‘, ’ ” Organizations: CNN, Climate, Abu, Abu Dhabi National Oil Company Locations: Dubai, Abu Dhabi, UAE

Greenhouse gas emissions from burning fossil fuels are the biggest cause of climate change. "We have a world which has more fossil fuels than ever," said Ani Dasgupta, president of the World Resources Institute, a climate NGO. U.S. officials and others are hopeful a recent climate deal between the U.S. and China may also set a positive tone for the talks. Another test is whether wealthy nations announce money for the fund at COP28 - to the tune of hundreds of millions of dollars. "Speaking from previous experience, unfortunately most of the global agreements, most of the global climate related pledges went uncompleted," said Najib Ahmed, National Consultant at Somalia's Climate Ministry.

Persons: Sultan al, Jaber, ADNOC, Ani Dasgupta, Narendra Modi, Britain's King Charles, Joe Biden, Gayane, Najib Ahmed, Valerie Volcovici, Josie Kao Organizations: OPEC, United Nations, International Energy Agency, BBC, World Resources Institute, Indian, European Union, Reuters, U.S, FINANCE, EU, Climate Ministry, “, Thomson Locations: Paris, France, WASHINGTON, BRUSSELS, Dubai, UAE, U.S, China, India

DUBAI, Nov 29 (Reuters) - Sultan Al Jaber, the incoming president of the United Arab Emirates-hosted COP28 climate summit, on Wednesday rejected accusations the host country planned to discuss natural gas and other commercial deals in meetings linked to the U.N. talks. The BBC and the Centre for Climate Reporting (CCR) on Monday said leaked briefing documents prepared for Jaber showed plans to discuss fossil fuel deals with 15 countries. And it's an attempt to undermine the work of the COP28 presidency," Jaber told a news conference, his first public remarks following the BBC report. "I promise you, never ever did I see these talking points that they refer to or that I ever even used such talking points in my discussions." Jaber has presented himself as a mediator between both sides of the fossil fuel divide, with a healthy desire to include the oil and gas industry in the climate debate.

Persons: Sultan Al Jaber, Jaber, Yousef Saba, Barbara Lewis Organizations: United Arab, BBC, Climate Reporting, Abu Dhabi National Oil Company, Organization of, Petroleum, Thomson Locations: DUBAI, United Arab Emirates, Abu Dhabi, UAE

☆ Files Suggest Climate Summit’s Leader Is Using Event to Promote Fossil Fuels
▼ + stars: | 2023-11-28 | by ( Hiroko Tabuchi | More About Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

As hosts of global climate talks that begin this week, the United Arab Emirates are expected to play a central role in forging an agreement to move the world more rapidly away from coal, oil and gas. But behind the scenes, the Emirates has sought to use its position as host to pursue a contradictory goal: to lobby on oil and gas deals around the world, according to an internal document made public by a whistle-blower. In one example, the document offers guidance for Emirati climate officials to use meetings with Brazil’s environment minister to enlist her help with a local petrochemical deal by the Abu Dhabi National Oil Company, the Emirates’ state-run oil and gas company, known as Adnoc. Emirati officials should also inform their Chinese counterparts that Adnoc was “willing to jointly evaluate international LNG opportunities” in Mozambique, Canada and Australia, the document indicates. LNG stands for liquefied natural gas, which is a fossil fuel and a driver of global warming.

Persons: Adnoc Organizations: United, Emirates, Abu, Abu Dhabi National Oil Company Locations: United Arab Emirates, Abu Dhabi, Mozambique, Canada, Australia

☆ ADNOC German oil deal has bad timing, good logic
▼ + stars: | 2023-11-28 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Abu Dhabi National Oil Company (ADNOC), the state-owned Abu Dhabi oil giant he runs, is considering a bid for BASF-owned (BASFn.DE) Wintershall Dea, at a potential $11 billion valuation. The UAE firm is already in talks to buy chemical company Covestro (1COV.DE), Wintershall’s German compatriot, for $12 billion. Abu Dhabi's oil riches mean the UAE firm has the wherewithal to pay 5.5 billion euros for BASF’s Wintershall stake. Any deal could value Wintershall Dea at more than 10 billion euros ($11 billion), Bloomberg reported. BASF holds a 72.7% stake in Wintershall Dea.

Persons: Toru Hanai, Wintershall, Jaber, It’s, Austria’s, Abu, LetterOne, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Abu Dhabi National Oil Company, BASF, The, Shell, Russian, Reuters Graphics Reuters, Abu, National Oil Company, Bloomberg, Wintershall Dea . Investment, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, The UAE, Germany, Norway, UAE, Europe, United Kingdom, Abu, Russia, Wintershall Dea

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