Arif Patel - Balancing Between Renewable Energy and Fossil Fuels

Balancing the Momentum Between Renewable Energy and Fossil Fuels is Need of the Hour, Asserts Arif Patel

The global oil and gas industry is witnessing a considerable upturn. As global demand for crude oil and natural gas continues to grow, these industries are expected to experience strong growth. Drilling technology and exploration methods have enabled the discovery of large quantities of oil and natural gas, increasing production and employment.

Arif Patel of Preston UK, Dubai, a London-based entrepreneur, which is a prominent name in oil and gas exploration, engineering, and mining, often speaks on the same topic. “Conventional vs. unconventional,” he says. “The oil and gas industry needs to invest in the clean transition or decarbonization initiatives.”

Balancing between renewable energy and fossil fuels is a pressing concern for policymakers and the public alike. As the world moves towards sustainable development goals, continued reliance on non-renewable resources risks jeopardizing our chances of achieving an eco-friendly future. When it comes to energy, the debate is no longer about whether we should transition to renewable energy sources but about how we can do so efficiently and affordably.

Renewable energy sources such as wind, solar, and hydroelectric have seen tremendous progress in recent years. However, the primary challenge still lies in intermittency, which causes disruption in the power supply. Meanwhile, fossil fuels remain the backbone of the energy sector, but their impact on the environment is becoming increasingly undeniable.

Balancing between renewables and fossil fuels will require a transition that strikes a balance without causing economic or social shocks. Various stakeholders can play a crucial role in developing an effective transition strategy that prioritizes renewable energy while also acknowledging the economic and social factors at play. The global commitment to sustainable development goals, coupled with rapid technological advancements, provides a fertile ground for progress toward a sustainable future.

The United Arab Emirates (UAE) recently announced plans to significantly expand these industries while hosting the United Nations (UN) Climate Summit. Here are the latest developments in the oil & gas sector in Dubai. ADNOC, the world’s 11th largest oil & gas producer, has ambitious short-term growth objectives that align with the UAE’s commitment to renewable energy programs such as solar.

So far ADNOC has granted $700 million worth of contracts for the new gas plant as of July 2023. By supporting these projects, such as ADNOC’s most recent agreement to build a green hydrogen plant in Abu Dhabi Ports, the UAE is making progress in reducing its carbon footprint.

Dubai is one of the world’s most oil and gas-rich cities, but its reserves are limited. Dubai businessman praised the UAE’s intentions at the UN climate summit and expressed hope that these measures will reduce the reliance on fossil fuels and bring the country’s energy mix in balance.

Arif Patel of Preston believes the same can be said for the proposed new North Sea oil and gas projects. According to an analysis, the new projects would have little effect on the energy supply and would only produce enough gas to meet the UK’s demand for a few weeks each year.

The UK government wants to drill for more oil and gas in the North Sea. The UK aims to reach net-zero emissions within the next few years. Climate change has emerged as a major challenge as the oil and gas industry covers unconventional resources. Responding to the concern, the Mayor of London declared a climate emergency and started working with London’s climate talent and experience across a range of sectors to take urgent action to tackle the climate emergency and protect the future of the children.

These include balancing and a substantial shift towards decarbonizing the oil and gas industry. According to him, “it promises a brighter, greener future.”

Drilling or extraction activities or exploration for oil and gas provide several jobs and opportunities. However, we should not forget that these resources are limited. Energy mix and clean energy transition and balance with unconventional as an optimistic way to address energy demand and its aspects around the world.