Sultan Al Jaber to lead Abu Dhabi National Oil Company
Sultan Al Jaber has been appointed the director general of Abu Dhabi National Oil Company.
A statement yesterday by the General Secretariat of Abu Dhabi’s Executive Council said that the UAE Minister of State had been appointed to the role by Ruler’s decree.
Dr Al Jaber is also the chairman of the renewable energy firm Masdar and chief executive of energy at Mubadala.
According to its website, Adnoc is “one of the world’s leading oil companies, producing over 2.7 million barrels of oil a day”.
Abdullah Nasser Al Suwaidi had been Adnoc’s director general since 2011, according to Bloomberg, and has overseen the renewal of the emirate’s biggest onshore oil concessions last year.
The UAE is planning to increase total crude output capacity to 3.5 million barrels per day by 2017-18, from 3 million bpd now, with Adnoc investing billions of dollars in onshore and offshore fields despite the fall in oil prices. Adnoc is also developing natural gas assets to meet domestic energy demand.
According to Mubadala, Dr Al Jaber “has been responsible for developing and advocating the UAE’s position on energy, environment, water and international climate change negotiation as the UAE’s Special Envoy for Energy and Climate Change since 2010”.
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Updated: February 15, 2016 04:00 AM