COP28 Sees Calls for Balance, Realism in Dealing with Energy File

Expo Dubai hosts the COP28 summit (Reuters)
Expo Dubai hosts the COP28 summit (Reuters)
TT

COP28 Sees Calls for Balance, Realism in Dealing with Energy File

Expo Dubai hosts the COP28 summit (Reuters)
Expo Dubai hosts the COP28 summit (Reuters)

As the negotiations in COP28 entered the heated stages, discrepancy between countries regarding the position on traditional fuels increased.
While Western states are pressing to adopt a position towards getting rid of fuel, another front appears to be resisting this course, and pushing towards a solution based on treating traditional fuels and the resulting emissions, in order to achieve balanced economic growth.
The latest trend is led by OPEC member states, and is approved by countries with developing or small economies. These countries indicate that their position does not stem from opposition to environmental and climate protection agendas, but rather from the fact that getting rid of traditional fuels will result in a major economic blow that the world will be unable to bear.
A number of officials told Asharq Al-Awsat that this position has nothing to do with the interests of oil producers alone, but rather with the wellbeing of other countries as well.
Speaking on condition of anonymity, an official from a sub-Saharan African country said: “We do not have sufficient development, and we barely produce electricity using gas and diesel... Now they are asking us to dispense with traditional fuel... Shall we live in the darkness? This is not a fair agreement.”
In the corridors of the conference, news was circulated about an internal memorandum from the OPEC secretariat dated Dec. 6, in which OPEC Secretary-General Haitham Al-Ghais called on the members of the organization to reject any agreement targeting fuel and not emissions.
“It seems that the undue and disproportionate pressure against fossil fuels may reach a tipping point with irreversible consequences, as the draft decision still contains options on fossil fuels phase out," the letter said, as reported by Reuters.
The letter urged delegations at COP28 to “proactively reject any text or formula that targets energy i.e. fossil fuels rather than emissions.”
Although OPEC refused to comment on the matter, Al-Ghais stressed during a session on Wednesday evening the need to pay attention to the idea of tackling emissions, especially since it achieves good results “on the ground” and can lead to the same final results.
On Saturday, an OPEC official said on behalf of the organization’s Secretary-General that the COP28 summit must find “realistic methods” to reduce emissions that need to involve all “energies” and technologies.

 



Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)

The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.

This week's flare-up in a dispute over control of the central bank threatens a new bout of instability in the North African country, a major oil producer that is split between eastern and western factions.

The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the central bank governor - a key position in a state where control over oil revenue is the biggest prize for all factions.

Exports from Hariga stopped following the near-total shutdown of the Sarir oilfield, the port's main supplier, the engineers said.

Sarir normally produces about 209,000 barrels per day (bpd). Libya pumped about 1.18 million bpd in July in total.

Libya's National Oil Corporation NOC, which controls the country's oil resources, said on Friday the recent oilfield closures have caused the loss of approximately 63% of total oil production.