ADNOC Nominates Board of Directors
Posted on 03/01/2021
In December 2020, the Abu Dhabi government merged the Supreme Petroleum Council with a new Supreme Council for Financial and Economic Affairs. Abu Dhabi is the oil-rich emirate in the seven-member UAE federation. Abu Dhabi is progressing with plans for a significant oil production capacity boost despite the sustained fall in oil prices from years back.
Crown Prince Mohammed Bin Zayed, the defacto ruler of Abu Dhabi, became Chairman of Abu Dhabi National Oil Company (ADNOC). The crown prince appointed one of his sons, Khaled bin Mohamed bin Zayed, as chairman of a smaller six-member executive board at ADNOC In addition, Sultan Al Jaber, ADNOC’s chief executive officer, has been given the additional title of managing director and will sit on both boards (ADNOC and Supreme Council for Financial and Economic Affairs). The creation of the 11-member wider board was made at the behest of Sheikh Khalifa Bin Zayed, president of the UAE and the crown prince’s brother. The crown prince has largely run the country since 2014, when Sheikh Khalifa (Khalifa bin Zayed bin Sultan Al Nahyan) had a stroke.
The board members of ADNOC include Hazza bin Zayed, Mansour bin Zayed, Khaled bin Mohamed bin Zayed, Dr Sultan Al Jaber, Khaldoon Al Mubarak (Mubadala Investment Company), Dr. Ahmed Al Mazrouei, Jassem Al Zaabi, Suhail Al Mazrouei, Ahmed Al Sayegh and Engineer Awaidha Al Marar.
On March 25, 2019, Khaled bin Mohamed bin Zayed launched Hub71 a platform to support high tech startups has launched in Abu Dhabi, a key initiative of Ghadan 21.