Oil is our gold and we aim to use all of it, ADNOC official says - Reuters

Oil is our gold and we aim to use all of it, ADNOC official says - Reuters:

Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.

The world’s transition away from fossil fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil companies and producing nations pondering their long-term future.

But for state-run ADNOC, the main oil-producing company in the United Arab Emirates, which supplies nearly 3% of global oil demand, crude is set to remain the revenue backbone, ADNOC’s upstream executive director Abdulmunim al-Kindy told Reuters.

“Our oil is our gold,” al-Kindy said in an interview during the ADIPEC oil and gas conference in Abu Dhabi, capital of the UAE.