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OPEC+ Will Hopefully Finalize Alliance in June- UAE Energy Minister

OPEC+ Will Hopefully Finalize Alliance in June- UAE Energy Minister

Thursday, 21 March, 2019 - 12:30
UAE Energy Minister Suhail al-Mazrouei at the press conference (WAM)
Abu Dhabi- Asharq Al-Awsat
OPEC and its non-OPEC allies could sign in June a pact to make their oil market-managing policies formal, UAE’s Energy Minister Suhail al-Mazrouei said Wednesday, adding that Abu Dhabi will continue to maintain its compliance with OPEC+ cuts at 100 percent until the next meeting.

“We are committed to delivering 100 percent on our commitment. The following months are going to be driving that number to a 100 percent,” he said.

Speaking at a press conference on Wednesday, Mazrouei discussed the 24th World Energy Congress, themed “Energy for Prosperity”, and walked attendees through the highlights of the four-day Congress, which will take place from 9 – 12 September in Abu Dhabi.

Mazrouei reported that the Congress will bring together the entire global energy ecosystem, government and industry leaders from Asia and Africa, investors, innovators, students and young professionals among many others.

UAE is aiming to be one of the world’s most innovative nations by 2021, and it therefore comes as no surprise that innovation has been placed at the heart of the Congress, discussing matters such as digitization, hydrogen economy, deep de-carbonation, blockchain, IoT, and AI.

Top 100 energy transition start-ups and entrepreneurs from around the world will come together to showcase their products and services in the innovation hub, he said, adding that the event is expected to draw 70 Ministers and 500 CEOs out of an anticipated 15,000 attendees from 150 countries.

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