UAE Official: Attack on Single Oil Tanker is an Attack on Int’l Community

Wednesday, 26 June, 2019 - 11:45
Abu Dhabi - Asharq Al-Awsat

The UAE, which boasts the world’s sixth-largest oil reserves, is highly concerned with whatever threatens the security of global energy supplies, said Dr. Sultan al-Jaber, minister of state and chief executive of Abu Dhabi National Oil Company (ADNOC).

He said Tuesday his country considers “any attack on a single tanker as an attack on the international community as a whole and a violation of the basic values of free trade, peace and prosperity.”

He stressed that the UAE is committed to work with friends and allies to maintain regional stability and security of energy supplies to customers all over the world.

Abu Dhabi seeks de-escalation of tension in the Middle East, he told the Emerging + Frontier Forum 2019 at Bloomberg’s European headquarters in London.

“Now is the time for wisdom, diplomacy and the concerted efforts of the international community,” he noted, adding that the security and stability of energy markets are a common interest of all countries and key factors for progress and economic growth.

Jaber pointed out that the UAE leadership continues to pursue bridges of cooperation, communication and concerted efforts with the international community to achieve progress, development, prosperity and sustainable development.

Dialogue, openness and tolerance are basic characteristics enjoyed by the UAE, which always strives to building, growing and progressing, according to Jaber.

In his speech, which was delivered in the presence of world finance ministers, economists, central bank governors and business leaders, he reviewed the impact of global economic trends on energy demand.

By 2030, emerging economies will consume two-thirds of the world's energy, goods and products, driven by unprecedented growth in middle-class populations, he explained.

ADNOC is working on consolidating its position as an advanced national oil company with a future vision by counting on its history and expertise to develop a business model that allows it to maintain its position and meet the increasing demand for energy, said Jaber.

He added that expanding strategic partnerships and joint investments is a key pillar in ADNOC’s qualitative shift.

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