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Abu Dhabi’s de facto ruler consolidates control over ADNOC

Published : Tuesday, 2 March, 2021 at 4:07 PM  Count : 459

Abu Dhabi’s de facto ruler consolidates control over ADNOC

Abu Dhabi’s de facto ruler consolidates control over ADNOC


Abu Dhabi's de facto ruler, Crown Prince Mohammed bin Zayed, has cemented his control over the emirate's state power body by becoming chairman of the newly established board of directors.

The Crown Prince also appointed Khaled bin Mohammed bin Zayed as chairman of a small six-member executive board at the Abu Dhabi National Oil Quote, the UAE media office tweeted on Sunday.
ADNOC pumps almost all of the UAE's oil and gas, making it OPEC's third largest crude producer.

"It formally represents the role of the Crown Prince as head of ADNOC, which has been the case for several years," said Robin Mills, founder and head of Kamar Energy, a Dubai-based consultancy. "It plays an important role for her son."

ADNOC CEO Sultan Al Jaber has been given the additional title of managing director and will sit on both boards.

Abu Dhabi came to this decision after merging the Supreme Petroleum Council in December, which set the government's energy policy, with a new Supreme Council on financial and economic affairs. Most of the members of the ADNOC board were in the SPC.

GY

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