Coral Oil, a key player in Lebanon's oil and gas sector, underscored its commitment to the country with its participation in the 26th World Energy Congress, held in the city of Rotterdam in the Netherlands between April 22 and 25. The congress, renowned for shaping the global energy agenda, served as a pivotal platform for discussions on the future of energy, with a focus on sustainable solutions.
Leading the Lebanese delegation was the country’s minister of energy and water and the Lebanese Center for Energy Conservation (LCEC), accompanied by representatives from private sector entities, including from Coral, operating in Lebanon's energy sphere. The minister’s active involvement underscored Lebanon's commitment to addressing energy challenges and embracing renewable energy opportunities.
In characteristic fashion, Coral has kept pace with the energy transition in the MENA region. Since 2020, the company has been a trailblazer in integrating energy transition and sustainability goals into its strategic framework. As a testament to its dedication to sustainability, Coral has become a member of the U.N. Global Compact Network and has taken significant strides toward assessing and mitigating its carbon footprint. Partnering with World Kinect Energy, a division of World Fuel Services, Coral embarked on a comprehensive carbon footprint assessment starting in 2021. This evaluation revealed a notable reduction in carbon emissions across Coral's stations since the initiative's inception.
Moreover, Coral is actively pursuing and implementing cutting-edge technologies aimed at curbing carbon emissions throughout its operations. This proactive stance includes investments in renewable energy sources to power its facilities, the implementation of energy-efficient measures, and the adoption of streamlined processes to enhance operational efficiency. Furthermore, Coral is committed to improving electric vehicle charging infrastructure and exploring the potential of green hydrogen as a viable energy solution for the future.
Through these initiatives, Coral is not only aligning its operations with sustainability objectives but also contributing to the broader transition towards a greener and more sustainable energy landscape in the MENA region.
"Coral remains committed to driving positive change within Lebanon's energy sector and beyond," said Yamin Group Chairman and CEO Oscar Yamin. "As we navigate the complexities of the global energy landscape, the insights gained from the 26th World Energy Congress will inform our strategies for a greener, more resilient future."
In the dynamic arena of global energy discourse, Coral stands poised to leverage insights gained from the 26th World Energy Congress to drive positive change within Lebanon's energy sector and beyond.