International UAE Host COP28 to Massively Increase Own Oil Production/Sales

[Siver!]

COP28: Huge rise in oil drilling expected from hosts UAE

The UAE's state oil company is set to be the world's second biggest producer, analysis shows.

www.bbc.co.uk

The country hosting COP28 climate talks aimed at cutting fossil fuel emissions is massively ramping up its own oil production, the BBC has learned.
The United Arab Emirates' state oil firm Adnoc may drill 42% more by 2030, according to analysts considered the international gold standard in oil market intelligence.
Between 2023 and 2050, only Saudi Arabia is expected to produce more.
Adnoc says projections show capacity to produce oil, not actual production.
It said it had already clearly stated plans to boost its production capacity by 7% over the next four years.
The firm said it was widely accepted that some oil and gas would be needed in decades ahead and that it was making its activities more climate-friendly, including by expanding into renewable energy.
The major focus of COP28 is the phasing down or phasing out of fossil fuels including oil and gas.
Sultan al-Jaber is the president of the COP and the chief executive of Adnoc.
This new analysis of oil industry data suggests Adnoc is now in the process of rapid expansion.
The information on Adnoc comes from Rystad Energy, whose oil market intelligence is widely used and trusted by fossil fuel companies and international bodies such as the International Energy Agency.
Rystad uses company reports, government sources and academic research to make projections of future oil and gas production.
Campaigners Global Witness then used this data to make a list of top oil producers between now and 2050.
The UAE came second behind Saudi Arabia. It currently ranks 12th in the world.
Rystad said the 42% production increase this decade will raise output from just over a billion barrels in 2023 to almost 1.5 billion barrels by 2030.
The data suggests that this aggressive expansion is expected to continue through the 2030s, with production starting to decline in the 2040s.
By 2050 Adnoc is expected to be producing close to 850 million barrels of oil a year, significantly less than the billion it produces now.
Production is expected to fall across the world towards the mid-century.
Bill Hare, a senior scientist with Climate Analytics, said the "staggering" growth in Adnoc's projected production "is completely against everything we know that needs to be done to limit warming to 1.5C".
"It flies in the face of the the COP president's own commitment to make 1.5C the North Star of the climate negotiations," he added.
"This amount of oil and gas would bust the chances of limiting warming to 1.5C."
Adnoc's total production would still be dwarfed by Saudi Arabia's national producer, Aramco, which will produce 101 billion barrels by 2050.
However, it would be significantly more than all five "supermajors" combined - these are Shell, BP, ExxonMobil, Chevron, TotalEnergies and ConocoPhillips.

---

COP28 president denies using summit for oil deals

A BBC report said the UAE planned to use its role as host of UN climate talks to strike oil and gas deals.

www.bbc.co.uk

The president of the COP28 climate summit in Dubai has denied that his country is using the meeting to make oil and gas deals.
The BBC reported on Monday that leaked briefing documents revealed plans by the United Arab Emirates to discuss fossil fuel deals with 15 nations.
COP28 President Sultan al-Jaber said at a news conference that the report aimed to undermine his COP28 presidency.
"These allegations are false, not true, incorrect and not accurate," he said.

---

What an absolute pisstake.

The race to legitimize the Middle East in sports is one thing; holding COP28 summits so that Middle Eastern countries can strike deals that are the antithesis of the objective and sell out the future is insane.

And there are people on here that think globalists actually have some power and know what they're doing.

Here's very solid evidence that they either have no control at all, or alternatively they have no serious interest in those agendas.

If there's a conspiracy here, it's just 'money is everything'. Which it always was, and will be even more so going forward.

 

[Fluffernutter]

What Abu Dhabi’s City of the Future Looks Like Now

At the UN’s World Urban Forum in Abu Dhabi, attendees toured Masdar City, the master-planned eco-complex designed to show off the UAE’s commitment to sustainability.

www.bloomberg.com

Just subsidizing Masdar

 

[Fake Doctor]

Well, the markets will obviously punish them for that, because oil is dead or close to it - right? Net Zero 2035, ban gas cars, green grid, all that - that stuff will just be flying off the shelves so nobody is going to buy that oil... Right? My own country's leadership says there is no business case for producing oil and gas and is smothering the oil industry with a wet blanket of regulations - that seems the intelligent thing to do for the welfare of a state, not "drill baby drill!" These goons are going to look so silly when they drill all that oil and nobody wants it!

 

[Siver!]

Well, the markets will obviously punish them for that, because oil is dead or close to it - right? Net Zero 2035, ban gas cars, green grid, all that - that stuff will just be flying off the shelves so nobody is going to buy that oil... Right? My own country's leadership says there is no business case for producing oil and gas and is smothering the oil industry with a wet blanket of regulations - that seems the intelligent thing to do for the welfare of a state, not "drill baby drill!" These goons are going to look so silly when they drill all that oil and nobody wants it!

That's the best case scenario, I hope that's what happens.

I fear countries are just going to find excuse after excuse to buy it, though, at least in the short term.

 

[Fox by the Sea]

the absolute nerve to use COP28 as a background for oil deals.
it's almost impressive.
coming in a car to a "fuck cars" conference

 

[Kowboy On Sherdog]

Joke is on them. By 2030 we'll all be driving a Cyber Truck

 

[Natural Order]

The entire model is fucked. Dumb Western idiots have put in motion a plan that doesn't introduce, integrate, and replace.....rather introduce and replace. The transitionary point through integration will take decades before hitting a point where we can safely start weening off oil and gas.

They're going to collapse it all because of toddler level intelligence.

 

[Broke Lester]

Is this one of those events when it's mandatory to attend in your own private jet, even if you're a hours drive away?

 

[Otto!]

Joke is on them. By 2030 we'll all be driving a Cyber Truck

 

[RoastBeast]

You mean the obvious climate change scam is becoming obvious?

 

[Fluffernutter]

The entire model is fucked. Dumb Western idiots have put in motion a plan that doesn't introduce, integrate, and replace.....rather introduce and replace. The transitionary point through integration will take decades before hitting a point where we can safely start weening off oil and gas.

They're going to collapse it all because of toddler level intelligence.

But, by then, someone new will be in office. So, we can blame that guy.

 

[Fluffernutter]

Is this one of those events when it's mandatory to attend in your own private jet, even if you're a hours drive away?

Why not have it hosted on Zoom?

 

[idrankyourbeer]

oh man not another one of these conferences where a whole tonne of of rich people hop into their private jets and fly around the world to shake hands and high-five each other while putting on a show for the public and pretending they give two shits about climate change.

assuming that they care about the environment, and we're in a doomsday scenario where the worlds gonna end if we dont act now and change our ways and give them more tax money or whatever, or at least thats the picture they want to try to paint, couldn't they just do all of this through a virtual meeting online or something? or do they just want to eat their big macs while everybody else eats the bugs?

i remember joe biden literally falling asleep during one of these things lol.

 

[lsa]

My boss was invited to join in the Blue Zone, but turned it down.

Also its kind of a joke, UAE wants to hold business meetings there with potential oil buyers.

 

[lsa]

Why not have it hosted on Zoom?

But then people cant see how rich I am and how much I care about stuff.
Duh.