Saudi Arabia rallies region for deep decarbonization as COP30 nears

Organized by the Organization of Arab Petroleum Exporting Countries and held under the patronage of Saudi Energy Ministry, the event builds on the success of its inaugural edition last June. SPA
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Updated 24 April 2025
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Saudi Arabia rallies region for deep decarbonization as COP30 nears

JEDDAH: A regional drive to cut carbon emissions in the oil and gas sector gained fresh momentum this week as the second symposium on downstream decarbonization opened in the Saudi capital, drawing high-level participation from international energy companies, industry experts, and policymakers.

Organized by the Organization of Arab Petroleum Exporting Countries and held under the patronage of Saudi Energy Ministry, the event—titled “Pathways to Reducing Carbon Emissions in Downstream Petroleum Industries”—builds on the success of its inaugural edition last June.

The symposium aims to advance strategies for curbing emissions in refining and petrochemical operations, reaffirming OAPEC’s commitment to sustainable energy development while fostering both regional and global collaboration.

Central to discussions is the challenge of balancing environmental goals with the continued strategic role of hydrocarbons in the global energy mix.

Opening the event, Saudi Arabia’s Deputy Minister for Sustainability and Climate Change Khalid Al-Mehaid highlighted the organization’s evolving vision.

He praised OAPEC’s decision to rebrand as the “Arab Energy Organization,” a move he said reflects a broader commitment to embracing all forms of energy to better serve the region’s long-term development goals.

He underscored the need for deep decarbonization strategies to safeguard energy security, protect the environment, and drive economic growth, according to the Saudi Press Agency.

Al-Mehaid emphasized the importance of integrated carbon management solutions, pointing to the role of the International Energy Forum in fostering collaboration between energy-producing and consuming nations in the face of the global energy trilemma.

With COP30 fast approaching, he called on Arab countries to move beyond negotiations and toward actionable climate cooperation, urging the adoption of science-driven solutions to meet net-zero emission targets.

OAPEC Secretary-General Jamal Al-Loughani also commended the Saudi Ministry of Energy for its central role in shaping the event’s direction.

He credited the leadership of Prince Abdulaziz bin Salman for driving the success of the symposium’s inaugural edition and setting the stage for its second iteration.

According to the SPA report, Al-Loughani noted that these collaborative efforts have significantly advanced both Arab and global dialogues on emissions reduction, particularly in refining the technical and technological approaches needed to meet climate goals.

Al-Loughani noted that the symposium comes at a pivotal moment, as the oil and gas sector faces mounting environmental challenges.

He emphasized that member states are actively working to transition toward a low-emissions economy through strategic investments in renewable energy, carbon capture and reuse technologies, and improved operational efficiency.

Al-Loughani also highlighted pioneering initiatives led by the Kingdom, including the Saudi Green Initiative and the Middle East Green Initiative. He commended similar efforts across the region, citing the UAE’s Al-Reyada carbon capture project, alongside notable programs in Algeria, Kuwait, Qatar, Iraq, Egypt, and Bahrain.

Mohammed Eid Al-Suraihi, president of the Arab Council for Creativity and Innovation, underscored the vital role of linking innovation with industrial solutions and stressed the importance of civil society participation in environmental awareness campaigns, according to the SPA.

He further emphasized that innovation remains key to building a more sustainable future for the petroleum sector.

Ali Al-Samawi, a senior energy analyst and representative of IEF Secretary-General Jassim Al-Shirawi, warned of unprecedented global challenges in decarbonizing the downstream petroleum industry. He pointed to circular carbon economy models, carbon markets, artificial intelligence-driven energy efficiency, and carbon capture, utilization, and storage technologies as essential tools for transformative change and unlocking future investment.

The symposium closely aligns with Saudi Arabia’s broader sustainability efforts, particularly through the Saudi Green Initiative and Middle East Green Initiative—both aimed at reducing carbon emissions and expanding renewable energy adoption.

The Kingdom has committed to achieving net-zero greenhouse gas emissions by 2060, a goal announced by Crown Prince Mohammed bin Salman during the 2021 Saudi Green Initiative Forum.

Saudi Arabia’s focus on decarbonizing its oil and gas sector—especially through advanced technologies like carbon capture — complements the symposium’s core agenda and reinforces the country’s leadership in promoting regional and international climate cooperation ahead of COP30.

According to SPA, the symposium drew broad participation, including representatives from OAPEC member states, international organizations, and over 15 leading global firms specializing in emissions reduction technologies.

Delegates from around 20 Arab and foreign countries attended, with nearly 140 experts and stakeholders present. The event featured 23 technical papers showcasing the latest innovations and strategies in emissions mitigation.


Global brands shut Middle East stores as conflict causes chaos

Updated 03 March 2026
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Global brands shut Middle East stores as conflict causes chaos

  • Luxury brands and retailers close stores in Middle East
  • Conflict threatens the region that has ‌been luxury’s fastest growing
  • Mass-market retailers monitor situation, adjust operations in region

PARIS: In Dubai and other major Middle Eastern shopping hubs, many stores are closed or operating with a skeleton staff as the escalating conflict in the ​region causes chaos for businesses and travel.

The US-Israeli air war against Iran expanded on Monday with no end in sight, with Tehran firing missiles and drones at Gulf states as it retaliates for a weekend of bombing that killed Iran’s supreme leader and reportedly killed scores of Iranian civilians, including a strike on a girls’ primary school.

Chalhoub Group, which runs 900 stores for brands from Versace and Jimmy Choo to Sephora across the region, said its stores in Bahrain were closed, while other markets, including the UAE, Saudi Arabia, and Jordan remained open though staff attendance was “voluntary.”

“We operate with a lean team formed of members who volunteered and feel comfortable to come to the store,” Chalhoub’s Vice President of Communications Lynn al ‌Khatib told Reuters, adding ‌that the company’s leadership team personally visited Dubai Mall and Mall of the Emirates ​on ‌Monday ⁠morning to check ​in ⁠with workers.

E-commerce giant Amazon closed its fulfillment center operations in Abu Dhabi, suspended deliveries across the region and instructed its employees in Saudi Arabia and Jordan to remain indoors, Business Insider reported on Monday, citing an internal memo.

Gucci-owner Kering said its stores were temporarily closed in the UAE, Kuwait, Bahrain and Qatar and it has suspended travel to the Middle East.

Luxury growth engine under threat

Shares in luxury groups LVMH, Hermes, and Cartier-owner Richemont were down 4 percent to 5.7 percent on Monday afternoon as investors digested the knock-on impacts of the conflict.

The Middle East still accounts for a small share of global spending on luxury — between 5 percent and 10 percent, according ⁠to RBC analyst Piral Dadhania. But the region was “luxury’s brightest performer” last year, according to consultancy ‌Bain, while sales of expensive handbags have stalled in the rest of the ‌world.

Now, shuttered airports have put an abrupt stop to tourism flows into ​the region and missile strikes — including one that damaged Dubai’s ‌five-star Fairmont Palm hotel — are likely to dissuade travelers, particularly if the conflict drags on.

“If you assume that it’s ‌a $5 billion to $6 billion (travel retail) market and let’s say it’s going to be shut down for a month, we are talking about hundreds of millions of dollars that are definitely at risk,” said Victor Dijon, senior partner at consultancy Kearney.

If Middle Eastern shoppers cannot travel to Paris or Milan, that could also hurt luxury sales in Europe, he added.

Luxury brands have been investing in lavish new stores and exclusive events ‌across the region. Cartier unveiled a “high-jewelry” exhibition in Dubai’s Keturah Park just days before the conflict started.

Cartier and Richemont did not reply to requests for comment.

Luxury conglomerate LVMH ⁠has also bet big on ⁠the region. Last month, its flagship brand Louis Vuitton staged an exhibition at the Jumeirah Marsa Al Arab hotel, and beauty retailer Sephora launched its first Saudi beauty brand.

LVMH does not report specific figures for the region, but in January Chief Financial Officer Cecile Cabanis said the Middle East has been “displaying significant growth.” LVMH did not reply to a request for comment on how its business may be impacted by the conflict.

The Middle East has also attracted new investment from mass-market players. Budget fashion retailer Primark said in January that it plans to open three stores in Dubai in March, April and May, followed by stores in Bahrain and Qatar by the end of the year.

“Primark is set to open its first store in Dubai at the end of March but clearly this is a fast-moving situation which we are monitoring closely,” a spokesperson for Primark-owner Associated British Foods said.

Apple stores in Dubai will remain closed until Thursday morning, the company’s website showed, while Swedish fast-fashion retailer ​H&M said its stores in Bahrain and Israel are ​closed.

Consumer goods group Reckitt has told all employees in the Middle East to work from home, temporarily closed its Bahrain manufacturing site and suspended all business travel to the region until further notice.