English
17 December, 2020The pandemic has brought a sharp drop in oil and gas prices, heavily impacting the oil and gas dependent MENA countries. IndustriALL affiliates in the energy sector met virtually on 30 November to discuss the impact of and approaches and responses to Covid-19, as well as how they tackle the energy transition that is taking place in the region.
Climate change and a continued dependence on fossil fuel revenue pose considerable threats to the economies in the region. With economies in the region slated to contract by up to 6.6 per cent, economic pressure may tempt some countries to halt their energy transition plans. This puts the future of the region at risk as energy transformation could have a positive impact on the economy and environment.