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The call of the foot of the Gulf countries to invest … in oil

The call of the foot of the Gulf countries to invest … in oil

The call of the foot of the Gulf countries to invest … in oil

They have often been singled out for their dirty energy exports. Today, the trend is reversed. The rich Gulf States have been courted in recent months by Western countries seeking to limit the surge in hydrocarbon prices, in a context of global inflation accelerated by the war in Ukraine.

“The world needs all possible solutions: it’s not oil or gas, solar or wind or nuclear, but all of these at the same time,” said Sultan al-Jaber, the Emirati minister of Industry.

Objective of zero CO2 emissions but increase in crude oil production capacity

For his part, the Saudi Minister of Energy, Prince Abdelaziz ben Salman, stressed the desire of the two countries to work on “the future of the energy mix” to put in place a “modern, safe, sustainable and affordable “.

According to the Saudi minister, the two neighboring countries, major members of the Organization of the Petroleum Exporting Countries (OPEC), are committed to achieving their goal of net zero CO2 emissions by 2050, while “increasing their capacity to production” of crude. The two ministers were speaking a few days before the opening of COP27 in Egypt.

Source: 20minutes

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