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UAE States Commitment to Supplying Oil Needs

OIL

The UAE and OPEC+ are keen on providing the world with the oil supplies it needs according to the United Arab Emirates' energy minister Suhail al-Mazrouei at an energy conference in Abu Dhabi earlier.

  • He added that OPEC+ will always remain a trusted technical organisation to balance oil supply and demand.
  • In a separate interview over the weekend, with state news agency WAM, Suhail al-Mazrouei said the UAE started revising its energy strategy at the beginning of 2023 to align it with the goal of achieving climate neutrality by 2050.
  • He said the UAE aimed to reach a 25% share of the hydrogen export market and that Japan, South Korea and Germany would be top destinations for it.
  • "In addition to targeting other markets in Europe and East Asia, we aspire to be at the forefront of nations' clean hydrogen production with competitive advantages for blue and green hydrogen, and to build large-scale hydrogen and ammonia production facilities", he said.
Energy BulletsCommodities
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