Oil giant announces major plan worth more than 370 billions yuan

The UAE Minister of Industry and Advanced Technology and CEO of Abu Dhabi National Oil Company, Sultan Al Jaber, stated that the company is entering a critical phase of strategic implementation and will further consolidate and strengthen the UAE’s industrial and manufacturing base. The UAE recently officially withdrew from the Organization of the Petroleum Exporting Countries, that is, OPEC and “OPEC+”. Analysts believe that the UAE hopes to monetize its oil and gas resources as soon as possible before the global energy transition is completed, in order to drive its own economic transformation, advance its economic diversification strategy, and invest in high-tech sectors such as artificial intelligence.