The Abu Dhabi National Oil Co. plans to spend $150 billion in the next five years to expand oil and gas operations despite concerns about greenhouse gas emissions. The company aims to reduce emissions while promoting oil and gas. The company is working on its image as an environmental leader while planning for growth. The UAE is hosting a climate summit, but some are critical of having an oil executive as its president. A company document discusses plans to delay drilling expansions to avoid backlash during the summit. Critics question whether it’s appropriate for someone from an oil company to lead climate talks. Rep. Jared Huffman and Sen. Sheldon Whitehouse have expressed concern about the situation. The UAE and U.S. have partnered on climate action, despite this controversy. ADNOC has pledged to spend $15 billion on reducing emissions and expanding renewable energy. The document’s messaging aligns with what sources have seen, and it’s in-line with the UAE’s actions. The UAE hosted a major energy conference last month and is planning to carefully manage growth in light of COP 28 and efforts to reduce greenhouse gases.
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