RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-07-12 08:05:00

OIL, GAS IS A KEY

OIL, GAS IS A KEY

PUNCH - The Organisation of the Petroleum Exporting Countries on Monday said that oil and gas remained part of key solutions in combating climate change.

Secretary-General of the organisation, Mr Mohammad Barkindo, stated this in Vienna while speaking against the backdrop of mass mobilisation of civil society campaigns against the oil industry.

"We believe that oil and gas are part of the solutions to climate change and the solution lies in technology, appropriate policies and corporate decisions.

"A combination of these solutions would go a long way in minimising the impact of climate change," he said.

Barkindo described as "misleading and dangerous" the position taken by civil society groups that the world would continue to depend on oil and gas in the future – especially as the resources would last until 2040 and account for over 50 per cent of the world energy basket.

"In terms of the availability of the resources based underground, we have nearly 1.5 trillion barrels of proven reserves across the world and more than 80 per cent of these reserves are domiciled in OPEC member countries including Nigeria.

"And within the context of energy poverty, you know that we have over 1 billion people in the world without access to electricity, we also have nearly three billion people with no access to clean fuel for cooking.

"The combating of energy problem world over is at the core of development across the world but what we are seeing now is that these campaign against oil will further complicate the energy poverty index and deny the people access to energy," he stressed.

The OPEC boss, however, noted that focus should be on how to combat greenhouse gas emissions, in particular, CO 2 emissions from fossil fuels adding that the solution does not lie in combating the use of oil and gas but adopting technology.

While condemning the campaign, he urged stakeholders, government and corporate organisations to rise to the challenge.

-----


Earlier:

OIL, GAS IS A KEY
2019, July, 10, 12:45:00
IRREVERSIBLE CLIMATE CHANGE
“The clock is ticking on irreversible climate change,” Adam Matthews, co-chair of the Transition Pathway Initiative (TPI) and the director of ethics and engagement at the Church of England Pensions Board, said in a statement.
OIL, GAS IS A KEY
2019, July, 1, 11:05:00
BRICS ENERGY SECURITY
"As BRICS participants are leading global consumers and producers of energy, our association could be more actively involved in issues of ensuring global energy security and universal access to energy," Putin said, during a meeting of the leaders of the BRICS countries ahead of the G20 Summit in Osaka. The BRICS group comprises Brazil, Russia, India, China and South Africa.
OIL, GAS IS A KEY
2019, June, 14, 11:05:00
GLOBAL GAS FLARING UP 3%
Gas flaring, the burning of natural gas associated with oil extraction, takes place because of technical, regulatory, and/or economic constraints. It results in more than 350 million tons of CO2 equivalent emissions every year and wastes a valuable resource, with harmful impacts to the environment from un-combusted methane and black carbon emissions.
OIL, GAS IS A KEY
2019, June, 14, 11:00:00
CLIMATE INVESTMENT $43 BLN
Climate financing by the world’s largest multilateral development banks (MDBs) in developing countries and emerging economies rose to an all-time high of $43.1 billion in 2018
All Publications »
Tags: OIL, GAS, ENERGY, CLIMATE, CHANGE