A month after the attack on four tankers off Fujairah, a summary of preliminary findings of an investigation by the UAE, Norway and Saudi Arabia has concluded that a “state actor” was most likely behind the operation.
The report found the attack was “designed to incapacitate the ships without sinking them or detonating their cargoes".
“The four attacks were part of a sophisticated and co-ordinated operation carried out by an actor with significant operational capacity, most likely a state actor,” said a statement from the three countries' ambassadors to the UN.
The investigation, which assessed the damage to the four vessels and conducted a chemical analysis of the debris, found it was "highly likely" that limpet mines were used in the attack.
“It appears most likely that the mines were placed on the vessels by divers deployed from fast boats,” the statement said, based on radar data and the short time the targeted vessels had been at anchor before the attacks.
The report, obtained by The National, pointed to evidence to support the theory that a state was behind the sabotage.
"The attacks required intelligence capabilities for the deliberate selection of four oil tankers among 200 vessels of all types that lay at anchor off Fujairah at the time of the attacks,” it said.
“One of the targets was at the opposite end of the anchorage area from the other ships, which indicates that these were premeditated strikes rather than targets picked at random.
“The attacks likely required the positive identification of these pre-selected targets by the operatives carrying out the attacks.”
The statement said the level of training for the attacks, and the contained nature of it, suggested a state was involved.
“It required training divers," it read.
"The explosive charges were placed with a high degree of precision under the waterline, in ways that were designed to incapacitate the ships without sinking them or detonating their cargoes, indicating minute knowledge of the design of the targeted ships."
The investigation also revealed evidence of a high degree of co-ordination among several teams of operatives, including the timed detonation of all four charges within less than an hour.
"The attacks required expert navigation of fast boats that were able to intrude into UAE territorial waters and to exfiltrate the operatives after delivering the explosive charges,” the statement said.
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Gargash: UN must play its part in hold saboteurs accountable
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US National Security Adviser John Bolton has accused Iran’s Revolutionary Guard of being behind the attack, but the initial findings of the UAE-led investigation did not name a specific state.
The report said the investigation would continue and that the three countries would share the preliminary findings with the International Maritime Organisation in London.
"Our investigations are still ongoing," said Lana Nusseibeh, the UAE's permanent representative to the UN.
"To date, they have included data gathered through technical teams, deployment of divers, and chemical analysis in UAE laboratories that is being verified with international partner teams."
Ms Nusseibeh said it was worth noting that all four vessels attacked were close to one of the two channels used to enter and exit the port.
She said the Saudi vessels were among the largest present in the port and that all four ships were deliberately chosen.
"The explosions could have had a catastrophic impact if the perpetrators had desired, suggesting it was a sophisticated attack planned to be contained without widespread destruction," Ms Nusseibeh said.
"The capability of intelligence and training is associated with the special forces of a state.
"It is a violation of state sovereignty, a threat to global maritime and international security. We have enhanced our security measures.
"These findings are preliminary, and we will continue to share the results of further investigations with the Security Council."
She said council members who were at the presentation of the statement expressed concern and solidarity with the UAE, Norway and Saudi Arabia.
"The investigation is very technical," Ms Nusseibeh said. "We are looking at the available data and we are analysing it. We are not at the stage of attribution.
"The US has carried out its own investigation but we have not yet seen those findings. There have been conversations at the intelligence and technical level with the US and a number of international partners.
"We are looking for an international response that would safeguard security in the region, the security of commercial shipping and of the global energy supply."
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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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
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”