CERAWEEK 'Make energy great again' says UAE's ADNOC CEO, pledging US gas investment
The UAE is a member of the OPEC+ producer group and one of the world's top oil producers. ADNOC's wholly-owned international investment arm XRG has about $80 billion in assets and Reuters reported last week the UAE was considering options for an XRG IPO.
"It is time to make energy great again," he told the world's largest annual gathering of energy executives in Houston, mirroring the Make America Great Again slogan of U.S. President Donald Trump.
"Over the next few months and foreseeable future you will see very large and significant investment by XRG in the United States," he said.
XRG would invest throughout the gas supply chain, from exploration and development through distribution, and wanted to be a one-stop shop for gas, he said.
Trump has reversed some of the energy policies of his predecessor Joe Biden as he overhauls government in the early weeks of his presidency. Trump has exhorted the industry to maximise production, although under Biden there were few checks on production and oil and gas output hit record levels.
Trump ordered the withdrawal of the United States from the United Nations' Paris Climate Agreement in January, removing the world's biggest historic emitter from global efforts to fight climate change for the second time in a decade.
Jaber said it was time for pragmatic energy policy and actions as the world needs all forms of energy supply to meet rising demand.
Oil demand would reach 109 million barrels per day (bpd) by 2035, up from 103 million bpd now, he said. Global power demand would rise 70% to 15,000 gigawatts from 9,000 GW, he said.
The race for supremacy in artificial intelligence worldwide was essentially an energy play, he said, due to the huge power demand needed for data processing.
XRG was designed to help meet the fast-growing demand of energy for AI, he added.
Jaber presided over the UN's COP-28 climate talks in December 2023, which took place in the UAE. The appointment of an oil industry chief executive to manage talks to combat climate change was controversial. Emissions from fossil fuel use have caused global warming.
Jaber said he had wanted to inject realism and pragmatism into climate change talks when he took on that mandate.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saba Yemen
7 days ago
- Saba Yemen
California: Trump's $1 bln demand from University political extortion
California - Saba: The office of California Governor Gavin Newsom considered the Trump administration's demand that the University of California pay $1 billion as part of a settlement with federal authorities to be political extortion. The California Governor's Office said on its official Twitter account on Sunday: "Trump has turned the Department of Justice into a weapon to cripple America's finest public university system by freezing funding for medicine and science until the University of California pays a $1 billion settlement. California will not submit to this heinous political extortion." CNN reported on Friday, based on a draft agreement and sources familiar with the negotiations, that the Trump administration is demanding that the University of California, Los Angeles, pay $1 billion to settle the dispute with federal authorities. According to the channel, the White House froze $584 million in funding to the university last week. According to the draft agreement, the university must pay the amount in installments and establish a $172 million compensation fund for people harmed by violations of the Civil Rights Act, which prohibits employment discrimination. In return, federal funding will resume, and the university will retain access to grants and contracts. Whatsapp Telegram Email Print more of (International)
Yemen Online
07-08-2025
- Yemen Online
Putin says UAE could host Trump summit
"We have many friends who are willing to help us organise such events. One of our friends is the president of the United Arab Emirates," Putin said standing next to UAE leader Mohamed bin Zayed Al Nahyan, adding "it (the UAE) would be one of the quite suitable places". The Kremlin said Thursday that a summit between Donald Trump and Vladimir Putin was set for the "coming days", both sides having already agreed the venue "in principle". The Russian President, however, said that "conditions" for a potential meeting with Volodymyr Zelensky had not been met, hours after the Ukrainian leader repeated a call for direct talks. "I have nothing against it in general, it is possible, but certain conditions must be created for this. But unfortunately, we are still far from creating such conditions," Putin told reporters at the Kremlin. The summit between Trump and Putin would be the first between sitting US and Russian presidents since Joe Biden met Putin in Geneva in June 2021. It comes as Trump seeks to broker an end to Russia's military operation on Ukraine. Three rounds of direct talks between Moscow and Kyiv have failed to yield any progress towards a ceasefire. The two sides appear as far apart as ever in the conditions they have set for an end to the more than three-year-long conflict. Trump said Wednesday he was likely to meet Putin face-to-face "very soon." They last sat together in 2019 at G20 summit meeting in Japan but have spoken by phone several times since Trump returned to the White House. "At the suggestion of the American side, an agreement has been reached in principle to hold a bilateral summit in the coming days," Kremlin aide Yuri Ushakov said Thursday in a Kremlin statement. "We are now starting to work out the details together with our American colleagues," he added. The Kremlin said a venue had also been agreed "in principle", but did not name it.
Saba Yemen
06-08-2025
- Saba Yemen
Democratic Front to Trump: Genocide in Gaza not war between two armies
Gaza - Saba: The Democratic Front for the Liberation of Palestine affirmed on Wednesday that what is happening in the Gaza Strip is not a war between two regular armies, but rather a Zionist genocide against the Palestinian people. In a statement received by the Yemeni News Agency (Saba), in response to US President Trump's statement, the Democratic Front said, "What is happening in Gaza, by all standards and recognized by international institutions and the International Court of Justice in The Hague, is genocide against the Palestinian people, perpetrated by the Zionist enemy state, which is strongly supported militarily and politically by the United States. It practices systematic killing by gunfire, siege, starvation, deprivation of medicine, and all the necessities of daily life." The Front condemned Trump's statement, in which he claimed that what is happening in the Gaza Strip is a war between two parties and not genocide, considering it a blatant distortion of the facts, attempting to conceal his complicity in genocide and killing, including his recent announcement of support for Netanyahu's decision to invade and occupy the entire Gaza Strip, under the pretext of searching for his prisoners held by the resistance. It added, "Trump's statements about starvation in the Gaza Strip aim to beautify the ugly image of the enemy state, which, by the admission of the Israeli elites themselves, has become an internationally isolated state, with no one standing by its side except Trump and his administration." The Democratic Front asserted that Trump's insistence on taking action to prevent famine or starvation in the Gaza Strip is nothing but empty claims, belied by overwhelming facts and the numbers of martyrs from hunger and starvation, as announced by international organizations, and the number of people killed searching for food at the so-called "Gaza Food Foundation" mass killing platforms. The Front pointed out that the American press is lying to Trump, asserting that the total amount his administration has donated to provide food to the Palestinian people in the Gaza Strip does not exceed $3 million, contrary to his claim that he has provided $60 million, which he apparently translated into bullets fired by enemy soldiers and vehicles at the starving women and children of the Gaza Strip. Whatsapp Telegram Email Print more of (International)
