COP28: UAE energy minister urges more national oil and gas companies to join decarbonisation charter

While he praised the Presidency’s efforts to get oil and gas companies to shore up leaky methane systems by 2030 - a move that could rapidly reduce emissions of the potent gas and forestall some climate change effects – he also urged increased investments from the companies who have joined the initiative.

A second draft of what could be the final agreement from the climate conference shows negotiators are considering calling for an ‘orderly and just’ phase-out of fossil fuels.

Commenting on cutting the industry’s methane emissions, Vicki Hollub, the CEO of Occidental Petroleum, said, “We [the global energy industry] are producing over 100 million barrels a day in the world today. It’s not going to happen overnight that we can eliminate our methane emissions. It’s going to take a lot of effort.”