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ADNOC: Son of the Crown Prince appointed Chairman

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ADNOC met this weekend to reshuffle its board of directors.
The new strongman of Emirati oil wants to develop clean energies, which could meet 50% of the country’s energy mix by 2050.

ADNOC Board of Directors reshuffled

Sultan Al Jaber was awarded the title of Managing Director of the
Abu Dhabi National Oil Company (ADNOC).
Other influential figures also feature on the new board.
These include Khaldoon Al Mubarak, Director of the Mubadala Investment Company‘s sovereign wealth fund.
But also Mansour ben Zayed, already Deputy Prime Minister of the United Arab Emirates.

Meeting the Emirate’s energy transition objectives

Mohammed Ben Zayed thus strengthens his control over the country’s main oil and gas company.
The emirate remains heavily dependent on its hydrocarbon exports.
It is also the third-largest producer of crude oil in the Organization of Petroleum Exporting Countries (OPEC), which meets on Thursday March 4.
The future leader will also take the opportunity to accelerate the United Arab Emirates’ energy transition.
His aim is to achieve a 50% clean energy mix by 2050.

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