The UAE has backed the formation of the Presidential Leadership Council in Yemen.
President Abdrabu Mansur Hadi has handed all executive powers to the eight-member council.
The Ministry of Foreign Affairs welcomed the move and said it would also support the bodies around the council.
It said it hoped the groups would be able to end the crisis in Yemen, achieve security and stability and help bring back development to the country.
It hoped a comprehensive political solution could be reached in a country to end seven years of civil war.
The UAE also welcomed the call by Saudi Arabia for the council to initiate negotiations with the Houthi rebels under the direction of the UN.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
