The UAE, one of the world's top crude exporters, said a recent UN climate summit in Glasgow was a "success" but that the world needs to keep investing billions in oil and gas.

Abu Dhabi: The UAE, one of the world's top crude exporters, said a recent UN climate summit in Glasgow was a "success" but that the world needs to keep investing billions in oil and gas.
But they failed to secure a consensus to keep coal in the ground, and UN Secretary General Antonio Guterres has warned that "climate catastrophe" is still knocking at the door.

Fuel rates have now remained unchanged for the eighth consecutive day on Friday under the daily price revision mechanism followed by oil marketing companies (OMCs). The price of the fuel largely remained unchanged across the country, but the retail rates varied depending on the level of local taxes.

While there is excitement about the potential of green hydrogen in some quarters, the sector also faces challenges.

In October, the CEO of Siemens Energy told CNBC there was “no commercial case” for it at this moment in time.

Norsk Hydro and fossil fuel giant Shell are to look into the potential of joint projects focused on green hydrogen production.