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Abu Dhabi on 16 March created a new Energy Authority, announced in a decree by UAE President Shaikh Khalifa bin Zayid Al Nahyan as part of a wider reshuffling of the Abu Dhabi Executive Council (ADEC). This is chaired by Shaikh Muhammad bin Zayid, the president’s half-brother and crown prince, and considered the driving force behind Abu Dhabi’s development.
The establishment of the new Energy Authority is a significant development, oil executives in the UAE capital say. But they don’t quite know why or how their businesses and relationship with state-owned Abu Dhabi National Oil Company (ADNOC) will be impacted. (CONTINUED - 751 WORDS)