The Gulf’s NOCs are increasingly emphasizing their ‘industry beating’ low upstream emissions intensity production as they seek to future-proof their core operations amid the energy transition. “We have the lowest carbon intensity in the industry,” says Saudi Aramco CEO Amin Nasser, while his counterpart at Abu Dhabi’s Adnoc, Sultan al-Jaber, says the firm’s goal is to “to remain one of the lowest carbon intensity operators in the oil and gas industry.”
The firms are also fighting to ensure that the industry has a voice in the global climate debate, and after being excluded from 2021’s Cop 26 talks in Glasgow, they took center stage when the UAE hosted the Cop 28 discussions in Dubai last year. Those talks established what was termed the ‘UAE consensus’, where parties arrived at a loose agreement calling for “transitioning away from fossil fuels in energy systems in a just, orderly and equitable manner.” (CONTINUED - 2399 WORDS)
