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The Latest Breaking News from Mazrouei

UAE Energy Minister: Oil Market Is Balanced

There is no need for the OPEC+ group of oil-producing nations to meet earlier than scheduled, the United Arab Emirates energy minister said on Monday, following Russia's announcement last week that it would unilaterally cut output. "I do not see a requirement for a meeting. The market is balanced," Suhail…

Asharq Al-Awsat · Feb 14, 2023

UAE Launches 11 Green Energy Projects Worth $43 Bn

The UAE Minister of Energy, Suhail al-Mazrouei, said on Monday that several factors will drive oil prices in 2023, mainly the end of China's zero-COVID policy, the US decision to refill the Strategic Oil Reserve, the sanctions imposed on Russian seaborne oil products, and ongoing global inflation. Mazrouei also said…

Asharq Al-Awsat · Jan 16, 2023

UAE to Revise Energy Strategy to Align with Climate Neutrality Goal

Emirati Minister of Energy and Infrastructure Suhail al-Mazrouei said the ministry intends to start revising its energy strategy at the beginning of 2023 to align it to achieve climate neutrality by 2050. Mazrouei said that the review of the energy strategy includes the expansion of renewable energy and the implementation…

Asharq Al-Awsat · Oct 31, 2022

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UAE’s Production Near Maximum Capacity Based on OPEC+ Baseline

The United Arab Emirates' oil production is near to maximum capacity based on its current OPEC+ production baseline, which is 3.168 million barrels per day, Energy Minister Suhail al-Mazrouei told state news agency WAM on Monday. “In light of recent media reports, I would like to clarify that the UAE…

Asharq Al-Awsat · Jun 29, 2022

Saudi Arabia, UAE Say OPEC+ Mission Is to Stabilize Market

Saudi Arabia and the UAE reiterated that OPEC+ has only a mission to "stabilize the market," adding that the alliance keeps politics out of its decision-making in favor of the "common good" of energy prices. Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the focus is on balancing crude…

Asharq Al-Awsat · Mar 30, 2022

UAE Plans to Enter Electricity Export Market Globally

The United Arab Emirates is planning to establish a power market platform aimed at facilitating the export of electricity, said Energy Minister Suhail al-Mazrouei. The ministry, in cooperation with its partners in the field of electricity, launched three strategic projects and initiatives during the Abu Dhabi Sustainability Week, he added.…

Asharq Al-Awsat · Jan 20, 2022

UAE Stresses Creating Mix of Renewable, Nuclear, and Fossil Energy

UAE Energy Minister Suhail al-Mazrouei said that the country is in the process of creating a combination of renewable, nuclear, and fossil energy to achieve a balance between economic needs and environmental targets. This would be attained through accelerating the energy transfer into a low-emission and a low-carbon future, reducing…

Asharq Al-Awsat · Jan 17, 2022

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