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Macro Trends

Mideast Gulf Tries to Reclaim the Energy Narrative

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  • With COP27 about to kick off in Egypt, Mideast Gulf oil producers are seeking to reclaim the energy narrative after being sidelined in Glasgow a year ago.
  • Buoyed by the global energy crisis, producers are doubling down on their argument that the world will need all the solutions it can get to ensure an orderly low-carbon transition.
  • New initiatives and projects meanwhile are aimed at helping position Gulf states as constructive participants in the intensifying battle against climate change.

A year ago in Glasgow, Mideast Gulf oil producers were on the back foot. Despite net-zero pledges ahead of COP26, first by the United Arab Emirates and then by Saudi Arabia, the two Opec heavyweights, like other oil producers, were largely sidelined from last year's climate summit discussions. At this year’s COP in Egypt, there can be little doubt that their voices will be louder.

Topics:
CO2 Emissions, Crude Oil, Renewable Electricity , Opec/Opec-Plus, Policy and Regulation, Carbon Capture (CCS), Low-Carbon Policy
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