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Aramco CEO says energy transition ‘not going smoothly’

Saudi Aramco Chief Executive Amin Nasser said on Thursday that investment in oil and gas was needed to run alongside new energy investments until the latter can realistically support rising consumption.“We all agree that to move towards a sustainable energy future a smooth energy transition is absolutely essential but we must also consider the complexities and challenges to get there,” he told the B20 conference in Indonesia via video link.For the latest headlines, follow our Google News channel online or via the app.“We have to acknowledge that the current transition is not going smoothly,” he said.Nasser has said Aramco aims to achieve net zero emissions from its operations by 2050 while also building hydrocarbon capacity and expanding its maximum sustained production capacity to 13 million barrels per day.Saudi Arabia, the world’s top oil exporter, aims to reach ‘net zero’ emissions of greenhouse gases - mostly produced by burning fossil fuels - by 2060.On Thursday Nasser said investments in hydrocarbons had to go hand in hand with new energies as demand for conventional energy would likely prevail for, “quite some time.”“As the global economy has started to recover there has been a resurgence of demand for oil and gas but since investment in oil and gas has fallen supplies have lagged which is why we see very tight markets in Europe and parts of Asia,” he said, stressing that he was not advocating for a change in climate goals.“I am proposing that investment in both existing and new energy be continued until the latter is developed enough to realistically and significantly be able to meet rising global energy consumption.”Read more: UAE energy minister looks ahead to supply 400,000 bpd, ‘not worried’ about short term
Source: Al Arabiya
Full Article: Aramco CEO says energy transition ‘not going smoothly’

US warns against UAE travel; Emirati official says Houthi threats won’t be new normal

The US State Department on Thursday advised its citizens against traveling to the UAE, warning against the threat of missile or drone attacks.Washington’s travel advisory came after two attacks by the Iran-backed Houthis targeted Abu Dhabi in the last week.For the latest headlines, follow our Google News channel online or via the app.“Do not travel to the United Arab Emirates due to COVID-19. Reconsider travel due to the threat of missile or drone attacks,” the State Department said on Thursday.But a senior Emirati official said that Houthi attacks would not “be the new normal for the UAE.”“We refuse to acquiesce to the threat of Houthi terror that targets our people and way of life,” the official was quoted as telling AFP.“We remain one of the most secure countries in the world, and the recent attacks have only strengthened our commitment to safeguarding the welfare of our residents,” the official added.For its part, the State Department said the possibility of attacks affecting US citizens and interests in the Gulf remained “an ongoing, serious concern.”The statement cited “rebel groups” in Yemen in an apparent reference to the Houthis.On January 17, the Houthis launched missile attacks on Abu Dhabi, killing three civilians and wounding a handful of others.This week, another missile attack was launched by the Houthis, but US and Emirati air defense systems intercepted them.“The UAE, as home to more than 200 nationalities, stands ready to defend itself,” the official, speaking on condition of anonymity, told AFP.Read more: Saudi Arabia, UAE, UK, US condemn Houthi attacks, reaffirm support for Gulf security
Source: Al Arabiya
Full Article: US warns against UAE travel; Emirati official says Houthi threats won’t be new normal