abu dhabi oil giant sees ‘enormous’ investment potential in kingdom
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Abu Dhabi oil giant sees ‘enormous’ investment potential in Kingdom

Egypt Today, egypt today

Egypt Today, egypt today Abu Dhabi oil giant sees ‘enormous’ investment potential in Kingdom

Sultan Al-Jaber, the chief executive of ADNOC and UAE minister of state.
Riyadh - Egypt Today

The Abu Dhabi National Oil Co. (ADNOC), is exploring opportunities for further cooperation in energy and petrochemicals with Saudi Arabia, it emerged at the Future Investment Initiative (FII) conference in Riyadh.

Sultan Al-Jaber, the chief executive of ADNOC and UAE minister of state, told Arab News that the investment potential in the Kingdom was “enormous,” and that he was interested in growing energy and other links between the two countries.

The biggest example of joint Saudi-UAE cooperation to date is the co-investment in the $44 billion refinery at Ratnagiri in India, which will provide an outlet for Arabian crude in the subcontinent and an entry to one of the fastest-growing refining and petrochemicals markets in the world.

Al-Jaber said Ratnagiri was “an example of the growing energy links between Saudi Arabia and the UAE, links which I am sure will grow stronger and deepen over time.”

“Saudi Arabia is the largest oil producer in the world, and is taking significant steps to transform its economy to ensure its long-term sustainable development and prosperity. The Vision 2030 plan is ambitious, bold and achievable,” he said.

“Most importantly, Saudi Arabia’s economic transformation will have far-reaching benefits, not only for the Kingdom, but for our region and for the entire world. Economic diversification is the name of the game.

“I have been impressed by the progress being made by the Kingdom to become a global economic powerhouse, and to use its investment strength to create a more diverse and sustainable economy. Particularly impressive is the investments it is making in unlocking the potential of the true architects of the future, the next generation,” he added.

Saudi Arabia and the UAE have grown increasingly close recently in the face of common security concerns and energy market issues. Al-Jaber made it clear that relationship will only get closer.

“Saudi Arabia and the UAE share a common understanding that the shifting global trends are creating an energy landscape where new rules of engagement are required. In this new energy era, we need to adopt more creative strategies and more flexible business models to unlock and maximize value and invest in growth,” he said.

The ADNOC chief said that the FII gathering was “an important and unique forum to meet with decision-makers, policy influencers and existing and potential partners and explore with them the trends impacting industrial development.”

He added: “Saudi Arabia is leading the region in terms of the progressive steps it is taking to develop the entire value chain of the hydrocarbon industry and wisely use its resource wealth to develop a fully diversified economy.

“The FII provides an essential platform to explore innovative ideas that can be taken to scale across the entire region. It is also a great platform to connect to opportunities beyond the Middle East.

“The expanding global energy map holds great potential for energy companies that are willing to adapt and transform. But, in order to make the most of these opportunities, we must work alongside innovative, commercial, financially savvy strategic investors and value-adding partnerships to enable our ambitious smart growth plans.

“The FII conference was an ideal opportunity to connect with potential partners who can provide the technology, know-how and market access we will need to thrive in the evolving energy landscape.

“I have no doubt Saudi Arabia will be successful in delivering a fully diversified and strong economic future, one that provides opportunities and long-term prosperity for all its citizens,” he added.

From :Arabnews

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

abu dhabi oil giant sees ‘enormous’ investment potential in kingdom abu dhabi oil giant sees ‘enormous’ investment potential in kingdom



GMT 15:49 2011 Friday ,10 June

Oil firm wins injunction against Greenpeace

GMT 10:27 2015 Monday ,06 July

Mini to launch ‘Clubman’ in 2016

GMT 17:21 2011 Wednesday ,23 February

Lampard Desperate To Win The Champions League

GMT 10:13 2018 Tuesday ,09 January

Barcelona to unveil 160m Coutinho

GMT 23:03 2017 Monday ,16 January

Bank of Korea: Money Production Cost Rise in 2016

GMT 20:33 2011 Friday ,06 May

Asad\'s army arrests all men over 15 in Daraa

GMT 11:55 2011 Tuesday ,29 November

Ultrabooks could save the PC

GMT 13:02 2012 Saturday ,01 September

Zombies and Morons compete

GMT 07:31 2017 Tuesday ,20 June

Sisi keen on attaining unity

GMT 11:50 2015 Saturday ,26 September

The Library of Fragrance announces January launches

GMT 06:28 2014 Saturday ,18 October

Asian Junior Volleyball tourney kicks off in Bahrain

GMT 13:31 2016 Saturday ,13 February

Greek farmers clash with police

GMT 07:40 2012 Friday ,06 July

Deeds, not words, matter the most

GMT 14:16 2016 Wednesday ,23 November

Gigi sorry for ‘racist’ Melania Trump impression

GMT 22:52 2011 Tuesday ,26 April

Nigeria prepares for parliamentary elections

GMT 20:35 2016 Tuesday ,04 October

Paris climate deal: EU backs landmark agreement

GMT 10:50 2016 Thursday ,01 September

India's Reliance announces launch

GMT 09:34 2016 Friday ,30 September

Rosetta spacecraft set for final comet crash landing

GMT 06:27 2017 Wednesday ,28 June

Rakeen Georgia ex-CEO faces trial in Georgia
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday