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UAE President Forms New Abu Dhabi Supreme Council

UAE President Forms New Abu Dhabi Supreme Council

United Arab Emirates (UAE) President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources.

CAIRO: United Arab Emirates (UAE) President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources.

The current Supreme Petroleum Council, which regulates petroleum-related policies, will be merged with this new council, the Abu Dhabi media office said in a tweet.

Its members will continue to exercise their role as Abu Dhabi National Oil Co (ADNOC) board members until a new board is appointed, the media office said.

The UAE is a leading oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and most of its output comes from ADNOC.

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first published:December 27, 2020, 21:27 IST