As COP28 considers phase-out of oil and gas, Arab OPEC ministers convene in Doha.
As COP28 considers phase-out of oil and gas, Arab OPEC ministers convene in Doha. Source reuters.com December 11, DOHA (Reuters) - As nations battle at the UN's COP28 climate summit over a potential agreement to phase-out fossil fuels, OPEC's top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference. In a letter dated December 6 that was seen by Reuters, OPEC Secretary General Haitham Al Ghais pleaded with the organization's members to oppose any COP28 agreement that targets fossil fuels rather than emissions. Approximately 80% of the world's proven oil reserves are held by members of the Organisation of Petroleum Exporting Countries (OPEC), the majority of which are in the Middle East. Since oil revenue constitutes the primary source of income for most of those countries, every message emanating from COP28 geared at curbing the demand for oil and gas becomes a