Sultan Al Jaber & United Arab Emirates

Sultan Al Jaber: Sultan Al Jaber, CEO of ADNOC and UAE minister, articulated the United Arab Emirates' strategic reasons for leaving OPEC, emphasizing national interests and economic diversification.

United Arab Emirates: The United Arab Emirates' decision to leave OPEC and OPEC+ is a strategic move to gain autonomy over its oil production and foreign policy, potentially increasing its global market share and strengthening ties with the United States and Israel, but also deepening its rift with Saudi Arabia.

Sultan Al Jaber: Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Abu Dhabi National Oil Company Managing Director and Group CEO, was present at the signing, highlighting government support for the initiative.

United Arab Emirates: The United Arab Emirates benefits from this collaboration through increased industrial growth, import substitution, and the creation of new economic opportunities, aligning with its industrial strategy.

Sultan Al Jaber: Sultan Al Jaber, Chairman of Borouge, emphasized the company's resilience and leadership in the polyolefins industry.

United Arab Emirates: Borouge is working in coordination with relevant UAE authorities to protect its facilities and operations following an incident.

Sultan Al Jaber: Sultan Al Jaber, head of the United Arab Emirates' major oil company, emphasized the need for ships to navigate the Strait of Hormuz without condition.

United Arab Emirates: The United Arab Emirates, through its major oil company head, called for the unconditional reopening of the Strait of Hormuz for shipping.

Sultan Al Jaber: Sultan Al Jaber, Chairman of Masdar, commented on the strategic importance of the joint venture for the UAE's energy leadership and its role in meeting Asia's electricity demand.

Sultan Al Jaber: Sultan Al Jaber, a senior Emirati official, discussed the Strait of Hormuz with United States Vice President JD Vance, highlighting Iran's actions.