In a keynote speech at the 40th Annual Oil and Money Conference in London organized by Energy Intelligence in October 2019, Dr. Sultan Al Jaber, Minister of State and CEO of ADNOC group of companies, reviewed ADNOC’s efforts and initiatives to keep pace with the rapidly changing global energy scene.

He pointed to the phenomenon of slowing global energy demand in the short term, and that the UAE is trying to cope with the reality by implementing a qualitative leap that enhances its position in the energy sector in a sustainable manner and relies mainly on reducing costs and increasing production capacity to keep pace with the growth of demand in the long term, while seeking to achieve sufficiency in natural gas and the shifting from an importer to an exporter.

Al Jabri stressed the company’s commitment to its role as a reliable supplier contributing to meet the global demand for energy, explaining that the main task of the oil and gas sector remained unchanged from what it was 150 years ago when drilling the first oil well in the world, which is to provide energy supplies to support economic growth in the world.

Turning to investments, he explained that ADNOC is seeking to take advantage of the independent credit rating (AA +) obtained by “Fitch” agency to attract more