UAE plays major role in securing global energy supplies: OPEC

The country will host the 28th United Nations Climate Change Conference of the Parties next year



Image used for illustrative purposes only
Image used for illustrative purposes only

By Wam

Published: Tue 2 Aug 2022, 4:07 PM

Last updated: Tue 2 Aug 2022, 4:11 PM

The UAE has a major role in securing oil supplies around the world, Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC) says.

In his statement to the Emirates News Agency (Wam) coinciding with his taking of office as the OPEC Secretary-General, Al Ghais said, "Today, we open a new page of cooperation, driving OPEC's rise to higher levels in the face of future roadblocks, in order to meet the various challenges in the energy arena in general, and the oil markets in particular, where many challenges, whether geopolitical, or Covid-19-related, are still affecting some regions of the world," noting that an action plan will be developed in consultation with the OPEC member states and technical committees, in line with OPEC's long-term strategy.

He explained that December 2022 will mark six years since the conclusion of the OPEC+ agreement. He added that the UAE plays a leading role in backing the agreement by laying sound foundations and expanding its cooperation, which supports the interests of the market, consumers and oil-producing countries.

The new OPEC Secretary-General said that the UAE will host the 28th United Nations Climate Change Conference of the Parties (COP28) next year, a platform that will enable OPEC member states to voice their opinions of oil-producing countries on energy transition, to ensure a balanced and fair transition inclusive of all stakeholders around the world, as well as avoid disrupting global economic activity and developmental efforts, and support optimal energy utilisation.

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