• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 7 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 2 hours "As the Earth Cools, the Climate Change Hoax Heats Up" by Michelle Edwards
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 3 days The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 4 days Hopes Are Dashed For International Oil Companies In North Iraq
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
Barclays Slashes Oil Price Forecast To $103 Per Barrel

Barclays Slashes Oil Price Forecast To $103 Per Barrel

Barclays joins Goldman Sachs in…

Energy Sanctions On Russia Have Been A Boon For China And India

Energy Sanctions On Russia Have Been A Boon For China And India

Western sanctions against Russia have…

Abu Dhabi Formalizes Crown Prince’s Grip Over Oil Firm ADNOC

The de facto ruler of Abu Dhabi, the richest oil emirate in the United Arab Emirates (UAE), became the chairman of the newly-formed board of directors at state oil firm Abu Dhabi National Oil Company (ADNOC), formalizing a role that analysts say he has been exerting in recent years.

Crown Prince Mohammed Bin Zayed, who is the de facto ruler of Abu Dhabi since the emir of Abu Dhabi, Khalifa bin Zayed, suffered a stroke in 2014, will chair the newly-formed board of directors of ADNOC, the Abu Dhabi media office said on Twitter on Sunday.

“Khalifa bin Zayed, in his capacity as Chairman of the Supreme Council for Financial and Economic Affairs, has issued a resolution to form the board of directors of Abu Dhabi National Oil Company (ADNOC), chaired by Mohamed bin Zayed,” read the tweet from the official account of Abu Dhabi.

Then Mohamed bin Zayed, in his capacity as chairman of the board of directors of ADNOC, issued a resolution to form the executive committee of the board of directors, the Abu Dhabi media office said. The executive committee will be chaired by one of Mohamed bin Zayed’s sons, Khaled bin Mohamed bin Zayed.

ADNOC’s chief executive officer Sultan Al Jaber was also appointed as Managing Director of ADNOC in addition to his CEO role. Al Jaber, together with UAE’s Energy Minister Suhail Al Mazrouei, both sit on ADNOC’s newly-formed board of directors and on the executive committee of the board of directors. 

“This formalizes the crown prince’s role as the head of Adnoc, which had been the case for several years,” Robin Mills, founder and head of Dubai-based consultancy Qamar Energy, told Bloomberg, commenting on the changes at ADNOC, and noting that these also provide an important role for Mohamed bin Zayed’s son.

ADNOC produces nearly all the crude oil in the United Arab Emirates (UAE), which is currently OPEC’s third-largest producer behind Saudi Arabia and Iraq.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News