Oil’s Green Makeover: UAE Claims Title for Cleanest Barrel

Oil’s Green Makeover: UAE Claims Title for Cleanest Barrel

Oil’s Green Makeover: UAE Claims Title for Cleanest Barrel

Oil’s Green Makeover: UAE Claims Title for Cleanest Barrel

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  • UAE aims for net zero by 2050, declares global leader in clean oil production.
  • Minister Al Mazrouei highlights reduced emissions for a “clean barrel.”
  • Clydebank Declaration commits to eco-friendly shipping corridors.
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An Emirati top official announced that the UAE, on its path to achieving the strategic net zero goal by 2050, is now the global producer of the cleanest barrel of oil.

“In the oil and gas sector, we are making sure that we are producing the cleanest barrel in the world,” said Suhail Mohamed Al Mazrouei, UAE Minister of Energy.

A clean barrel is defined by reduced greenhouse gas emissions during oil production. This revelation surfaced during the World Green Economy Summit at Madinat Jumeirah, where various ministers, government officials, and dignitaries convened to address climate change and the global green economy.

The WGES serves as a platform fostering dialogue and action among industry stakeholders. It facilitates the formation of partnerships by bringing together creative minds from diverse sectors, showcasing innovative solutions and best practices to inspire transformative change.

Al Mazrouei stressed upon the announcement made by the national oil company, ADNOC’s sustainability strategy. “ADNOC to achieve zero methane by the year 2030 and to achieve net zero by the year 2045, five years before our national target of 2050. That should give you an idea of how committed we are to our goals,” said Al Mazrouei.

Expanding on sectors like infrastructure, transportation, shipping, and energy, Al Mazrouei emphasized the UAE’s commitment to elevate green energy capacity to 19.8 gigawatts within the next seven years.

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“We recently updated the UAE energy strategy 2050 with more ambitious targets including tripling the renewable energy capacity by the year 2030, increasing the share of clean energy capacity to 30 per cent, reducing the energy consumption through improving efficiencies by up to 45 per cent by the year 2050,” said Al Mazrouei adding that these targets will be achievable through investments of up to Dhs200 billion.

In the construction industry, the minister noted that the UAE is focused on developing low-carbon building materials. “We are focused on implementing sustainable construction practices with a focus on circular economy,” said Al Mazrouei.

By the year 2050, half of the vehicles on the road to be hybrid or electric vehicles. “In the transport sector, we have planned to increase the share of electrical and hybrid vehicles to 50 percent of the total vehicles on the roads by 2050. To achieve this goal we constantly expand our network of EV charging stations,” said Al Mazrouei.

“We are probably to be the first country to put a pricing mechanism that will be announced later this year of next year incentivizing the private sector to invest in EV charging stations infrastructure,” said Al Mazrouei.

In the maritime and shipping industry, the UAE is set to introduce the Blue Pass, a initiative designed to establish a hub for local and international maritime organizations to share their services.

“We have also signed the Clydebank declaration that aims to establish green shipping corridors,” said Al Mazrouei.

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The Clydebank Declaration underscores a dedication to promoting the creation of eco-friendly shipping corridors, fostering collaboration among nations and industry stakeholders to bolster cooperative initiatives within and between countries.

Al Mazrouei additionally discussed the UAE’s initiatives to advance sustainable aviation fuel and low-carbon aviation fuel, contributing to the development of a more environmentally conscious aviation sector.

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