Abu Dhabi Crown Prince notes resilience of UAE oil sector

Abu Dhabi Crown Prince notes resilience of UAE oil sector
Abu Dhabi Crown Prince notes resilience of UAE oil sector

We show you our most important and recent visitors news details Abu Dhabi Crown Prince notes resilience of UAE oil sector in the following article

Hind Al Soulia - Riyadh - The chief executives of BP, Total, , CNPC and Eni were among the top energy leaders who convened virtually at the fifth Abu Dhabi CEO Roundtable June 16, hosted by ADNOC group chief executive and UAE minister of state Sultan Al Jaber.

Friday 19/06/2020

Sheikh Al Nahyan reviews ADNOC projects in Al Ruwais. (WAM)

ABU DHABI – Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan praised the Abu Dhabi National Oil Company (ADNOC) for supporting the country’s economy throughout the coronavirus pandemic during a visit to the Ruwais facility on Thursday.

“I’m proud of the exceptional effort to ensure uninterrupted supply of oil and gas to support our national economy,” Sheikh Mohamed said on Twitter.

“The UAE continues to develop its energy sector and advance industries to drive sustainable growth,” he added.

During the visit, the crown prince was briefed on progress in delivering ADNOC’s downstream strategy as well as the company’s plans to create value and drive profitability in the sector.

He spoke of Emirati efforts in the sector and thanked those working at the Ruwais facility for their commitment to business continuity despite difficulties posed by the coronavirus pandemic and its bearing on the industry.

“We were delighted to see young Emirati talent at ADNOC’s facilities in Ruwais and we appreciate their exceptional efforts during this challenging period to ensure the continuity of the UAE’s oil and gas production, as well as their work to develop and expand the Ruwais Industrial Complex, further solidifying the UAE’s position in the refining, petrochemical and derivatives industry,” Sheikh Mohamed said.

“This is a very important sector that will contribute to the overall industrial development in the UAE and drive the growth of ADNOC’s ICV program, attract foreign direct investment, diversify our national economy and accelerate commercial development in the UAE,” he added.

Earlier this week, ADNOC hosted a virtual summit, bringing together chief executives of global oil and gas companies, who expressed optimism over the recovery of the energy industry, as economies open up and energy prices rebound.

The chief executives of BP, Total, Aramco, CNPC and Eni were among the top energy leaders who convened virtually at the fifth Abu Dhabi CEO Roundtable June 16, hosted by ADNOC group chief executive and UAE Minister of State Sultan Al Jaber.

The UAE accounts for 4% of global crude production. Much of it from fields owned and operated by ADNOC. The country aims to double refining and triple chemical capacity by 2025.

ADNOC previously announced plans to invest $45 billion with partners to develop the world’s largest integrated refining and chemicals complex in Ruwais, capable of refining 600,000 barrels per day by 2025.

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