About this month’s cover stories:
UAE for energy transition
UAE rallies world for pragmatic energy transition; Egypt proceeds with reform amid inflationary pressure; Rise in spending and exploration buoys upstream oil and gas.
Global climate negotiators, civil society groups, entrepreneurs and journalists will descend on Dubai’s Expo City in November for the 28th Conference of the Parties (Cop28) to the UN Framework Convention on Climate Change, putting the UAE at the centre and in charge of the annual climate talks.
UAE Vice President, Prime Minister and Ruler of Dubai, Mohammed bin Rashid al-Maktoum, has said Cop28 is the most important event the UAE will host in 2023. It is hard to argue otherwise.
Under the auspices of a state whose wealth was built for the most part on oil, negotiators will lock horns over the policies, technologies and funding platforms best placed to enable climate mitigation and adaptation, and to wean the world off fossil fuels.
The UAE says it is well-positioned to lead the talks. Economically, the country is affluent but only recently developed, which means it can understand the concerns of both the established countries of the Global North and the emerging economies of the Global South. It can also bridge the political divide between east and west, a fissure that has widened following Russia’s invasion of Ukraine.
Crucially, the UAE sees an important role for hydrocarbons in an orderly transition – an unpalatable argument for many climate change activists.
The March 2023 issue of MEED Business Review looks at how the UAE, despite its oil legacy, can bring countries with contrasting agendas to the Cop28 negotiating table.
This month’s industry report on upstream oil and gas includes analysis on the large investments being made by regional hydrocarbons producers to raise output, and the rebound of exploration activity.
Our 15-page special report on Egypt, meanwhile, finds the country entering a phase of heightened uncertainty as it faces up to evolving economic realities.
We hope our valued subscribers enjoy the March 2023 edition of MEED Business Review.
Editor – Colin Foreman
Features & Analysis Editor – John Bambridge
Energy & Technology Editor – Jennifer Aguinaldo
Oil & Gas Editor – Indrajit Sen
Oil & Gas Reporter – Wil Crisp
Commercial Content Editor – Mehak Srivastava
Commercial Content Editor – Sarah Rizvi
Tenders Writer – Jane Bishop
Head of Production – Marianne Makdisi
Sub Editor – Sneha Abraham
Graphic Designer – Rey Delante