COP28 fails to reach an agreement on energy transition

The head of oil cartel OPEC said on Saturday that there is "no single solution" for the energy transition as pressure grows to agree on phasing out fossil fuels at the COP28 climate talks.

"There is no single solution or pathway to achieve a sustainable energy future," OPEC Secretary General Haitham Al Ghays said at the UN meeting in Dubai.

Meanwhile, major oil importer China said on Saturday it was seeking a deal on the future of fossil fuels at the COP28 climate summit that was acceptable to all parties. "We all want to work together to find language that points in the right direction of further efforts, reflects inclusiveness to the maximum extent and is also acceptable to all parties," Chinese climate negotiator Xie Zhenhua told reporters at the Dubai summit. /BГNES