The OPEC chief and ministers from major African oil producing countries on Monday defended investments in fossil fuels, saying Africa’s development needs were being overlooked in the global drive towards decarbonisation.

The global oil industry is “under siege” by climate campaigners who have “seized the momentum” to dictate the energy transition with misguided talk about halting investment in oil and gas, OPEC Secretary General Mohammad Barkindo said on Monday, as carried by Reuters.

“Energy affordability, energy security and the need to reduce emissions require a delicate balancing act, comprehensive and sustainable solutions, and with all voices heard, and listened to,” Barkindo said virtually during the 2022 edition of Nigeria International Energy Summit (NIES) in Abuja.

“Focusing on only one of these issues, while ignoring the others, can lead to unintended consequences, such as market distortions,” OPEC’s secretary general added.

Africa accounts for less than 3% of global carbon emissions while some 600 million Africans have no access to electricity, OPEC said, arguing that investments in the continent’s natural resources should go forward.

“It would be a tragedy of unimaginable proportions if despite billions of dollars being poured into investments for these resources, these went west as stranded assets,” said OPEC Secretary General Mohammad Barkindo.

His comments came as the latest report from the United Nations climate science panel warned that half the world’s population was vulnerable to dangerous climate impacts and drastic action was necessary.