If all oil-producing nations followed the United Arab Emirates’ strategy, the world’s carbon budget for 1.5°C would be exceeded many times over.
COP28 host the United Arab Emirates (UAE) has plans in place to extract 38 billion barrels of oil and gas between now and 2085 – with significant further reserves that could also be extracted in that time.
If all oil producing nations followed such a strategy, the world’s carbon budget for 1.5°C would be exceeded many times over. As one of the wealthiest petrostates in the world – with a gross domestic product (GDP) per capita of $44,000 (Dh161,590) – the “common but differentiated responsibility” clause of the 2015 Paris Agreement could arguably mean that the UAE should end oil and gas production sooner than other, less wealthy nations – but as yet the UAE has no such plans.
According to exclusive data from Energy Monitor’s parent company, GlobalData, there are some 28.3 billion barrels of oil remaining in active fields in the UAE, with a further 1.5 billion barrels in fields that are currently planned.
Active fields in the UAE also have some 38.2 trillion cubic feet (trcf) of gas remaining, while planned fields contain 10.5trcf of gas. The combined volume of hydrocarbons in active and planned oil and gas fields in the UAE adds up to 38.4 billion barrels of oil equivalent.
The UAE is continuing to develop new oil and gas fields despite the International Energy Agency (IEA) repeatedly warning that for the world to meet its target of net zero by mid-century, oil and gas use must go into managed decline, with no new oil and gas fields approved for development beyond those already in existence.
The UAE’s oil plans are in the spotlight right now given the country’s high-profile role hosting the next annual UN climate conference, COP28, which is taking place in Dubai at the end of November.
Given that the burning of fossil fuels is by far the largest contributor to global warming, the UAE’s position as the world’s seventh-largest oil producer, and 14th-largest gas producer, is a major point of concern among climate experts.
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