Petronas CEO Tan Sri Tengku Muhammad Taufik Tengku Aziz speaking at the panel discussion during the Abu Dhabi International Petroleum Exhibition and Conference on Monday. – AFPpic
“This is your opportunity to show the world that, in fact, you are central to the solution,” he told the Abu Dhabi International Petroleum Exhibition and Conference of global industry figures and government officials. He also encouraged them to embrace “low carbon solutions” such as carbon capture and storage, tools that climate experts say distract from the urgent goal of slashing fossil fuel pollution.
At the same time top oil executives and officials from major oil-producing countries have advocated ramped-up investment to meet demand and stave off energy shortages. He added: “This is what it requires to be able to achieve energy security for Europe, for the rest of the world.” The CEO of Shell, Wael Sawan, said there would be a package of US$10 billion to US$15 billion over the next three years for low-carbon solutions.
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