Climate deal has 'no immediate impact' on Gulf oil
Dec 15, 2023
Dubai [UAE], December 15: An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out. After the UN's COP28 climate talks in Dubai, Saudi Energy Minister Prince Abdulaziz bin Salman immediately played down the text, insisting it would have "no impact on exports" from the country that ships more oil than any other. The deal "doesn't impose anything" on oil-producing countries and allows them to cut emissions "according to their means and their interests", the minister said.
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