Low investment in fossil fuels detrimental to energy transition, UAE minister says – The National

Low investment in fossil fuels detrimental to energy transition, UAE minister says – The National

A lack of investment in securing future energy supplies could extend the cycle of higher oil prices that have hit multiyear highs, UAE Minister of Energy and Infrastructure Suhail Al Mazrouei has said.

"If we are not investing enough, I am afraid we could see highs like we have seen in coal and in gas due to lack of investments," said Mr Al Mazrouei.

He credited the Opec+ bloc of oil exporters, of which the UAE is a part, with helping to stabilise oil prices.