Discussions were taking place on Twitter with the opening of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), which aims to establish new strategies for the changing energy landscape.
Sultan Al Jaber, the chief executive of Abu Dhabi National Oil Company, said under its new 2030 strategy and five-year business plan, Adnoc will diversify and increase production of its petrochemical portfolio, while opening new markets to ensure sustained profitability.
It also intends to expand its refining capacity to meet growing demand for refined products. He also stressed the importance of the involvement of women in the industry.
Oman’s minister of oil and gas, Hamad Al Rumhy, and UAE’s Minister of Energy, Suhail Al Mazrouei, said there were positive signs in the oil markets. “I think the glut is almost gone from where it was a year ago,” said Mr Al Mazrouei.
In another statement, the Minister of Energy said that they were using the opportunity to become more efficient and resilient. Bahrain’s minister of oil underlined the impact the oil price plays on the global economy.
skhamis@thenational.ae
On Twitter: @SarahKhamisUAE
