Latest news with #SuhailbinMohammedAlMazrouei
Arabian Post
10-07-2025
- Business
- Arabian Post
UAE Championing Balanced Oil Markets Through OPEC+ Engagement
Arabian Post Staff -Dubai Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, reaffirmed the UAE's full backing for OPEC+ mechanisms, underlining the nation's commitment to sustaining equilibrium in global oil markets through capacity expansion and coordinated policy. At the 9th OPEC International Seminar in Vienna on 9 July, Al Mazrouei praised OPEC+ for its collective decision‑making model, which he said ensures production responds to actual market demand rather than price speculation. He noted that the UAE's strategic investments in expanding production capacity reflect a readiness to release additional oil when consumption trends warrant, providing a stabilising buffer to global supply. The minister highlighted that this expansion aligns with prudent leadership foresight aimed at reinforcing market resilience. ADVERTISEMENT He emphasised that there has been no substantial rise in inventories despite several months of gradual production increases. 'Even with the increases…we haven't seen a major buildup in inventories, which means the market needed those barrels,' he stated. This observation supports broader OPEC+ data showing that successive monthly output increments have been absorbed by demand, a trend that the UAE believes underlines the rationality behind its expanded quota. Since April, OPEC+ has reversed approximately 2.17 million barrels per day of voluntary output cuts via a phased rollout: 138,000 bpd in April, then 411,000 bpd in each of May, June and July, followed by a proposed 548,000 bpd increase for August – a move reflecting growing market confidence. Notably, the UAE is set to complete a 300,000 bpd quota increase by September, a benchmark reached ahead of the original 2026 timeline as OPEC+ expedited its capacity hike schedule. Analysts suggest that such robust production gains could recover roughly 2.5 per cent of global demand by September. Al Mazrouei remarked that the UAE's investments will strengthen its role within OPEC+ and that once additional capacity comes online, it will serve as a crucial stabilising factor during demand shifts. He further argued that focusing solely on oil price levels is insufficient. Rather, OPEC+ aims to strike a sustainable balance that encourages long‑term investment. 'We need the price to be right for investments to happen,' he said, warning of the consequences of underinvestment across producers. Current market dynamics appear to confirm this approach: data from mid‑June and early July indicate that inventories across OECD nations remained stable despite the production uptick, confirming demand absorption remains robust. That observation, Al Mazrouei suggested, validates the pace of OPEC+ supply restoration and diminishes concern about a looming oversupply. While output is increasing, policy is cautious. The Group of Eight core OPEC+ members—Saudi Arabia, Russia, UAE, Kuwait, Oman, Iraq, Kazakhstan and Algeria—are proceeding in measured increments. Al Mazrouei underscored that OPEC+ continues to meet monthly via ministerial and committee reviews, carefully calibrating production relative to shifting market fundamentals. Beyond ensuring balance, the UAE's production capacity expansion also carries strategic benefits. Having secured a higher individual quota, the country aims to restore and extend its market share. This reinforcement was acknowledged by external observers, including Richard Bronze of Energy Aspects, who noted 'the UAE is benefiting from this speeding up of the quota increases' within a context of broader OPEC+ output acceleration. Despite concerns about slowing economies in key importers, including China, and rising US trade tensions, OPEC+ retains a cautiously optimistic outlook. Prices in July experienced modest one‑per‑cent gains near $69 per barrel following the announcement of the August supply increase—an indicator that demand continues to absorb the additional volumes. Nevertheless, OPEC+ remains vigilant about macroeconomic risks. Commentators have warned that demand softness later this year, driven by uncertainties in global growth and trade policies, could pressurise prices. Al Mazrouei echoed that view, stressing that short‑term supply increases must be accompanied by stable investment in oil infrastructure to prevent future shortages. Persistent coordinated production strategy is a central theme from the Vienna seminar. Ministers emphasised OPEC+'s response to shifting fundamentals rather than geopolitical or speculative impulses. With the group moving to complete the unwind of emergency cuts, markets will closely monitor whether global demand continues to match supply advances.
Al Etihad
09-07-2025
- Business
- Al Etihad
UAE plays vital role in OPEC, OPEC+: Al Mazrouei
10 July 2025 00:38 VIENNA (WAM)Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, emphasised the importance of the UAE's role in the Organisation of the Petroleum Exporting Countries (OPEC) and the OPEC+.He affirmed the UAE's support for all decisions made by the OPEC+ with the aim of achieving balance and stability in global oil statements to the Emirates News Agency (WAM) on the sideline of his participation in the 9th OPEC International Seminar in Vienna, Al Mazrouei underlined that the UAE's policy supports OPEC+ decisions, and commended the wise leadership of the UAE for adopting a strategy that aims to boost the country's production noted that this increased production capacity will be introduced into the market at the appropriate time when demand arises, stressing that such an expansion will act as a stabilising factor for markets and oil expressed satisfaction with OPEC's gradual return to the markets, highlighting that this return has not negatively impacted price stability. This, he said, proves that the organisation and the OPEC+ group are fully aware of market also projected that the group's share would increase due to anticipated investments by member countries such as the UAE, which has invested significantly in expanding its production explained that the gradual production increases have been carefully planned, and have positively contributed to reinforcing balance and stabilising prices at near-steady levels, with a slight rise that reflects an improvement in global oil commended the pivotal role played by the OPEC+ in maintaining the stability of the global oil market, stating: 'We believe this alliance plays a significant role.' He further noted that the relevant ministers and committees meet on a monthly basis to review and assess market demands and take appropriate decisions collectively as a group rather than as individual countries.
Sharjah 24
03-06-2025
- Business
- Sharjah 24
UAE, Kuwait sign MoUs to boost cooperation
The signings took place during His Highness Sheikh Mansour bin Zayed's official visit to Kuwait and were held at Bayan Palace. These agreements are intended to broaden the scope of strategic partnerships between the two nations and to support their mutual development priorities. The agreements and memorandums include the following: An MoU for cooperation in the health sector, signed by Abdul Rahman bin Mohammad bin Nasser Al Owais, UAE Minister of Health and Prevention, and Dr. Ahmed Abdul Wahab Al-Awadi, Minister of Health of Kuwait. An MoU between the Anwar Gargash Diplomatic Academy (AGDA) and the Sheikh Soud Nasser AlSabah Kuwait Diplomatic Institute, signed by Khalifa Shaheen Al Marar, UAE Minister of State, and Abdullah Ali Al Yahya, Foreign Minister of the State of Kuwait. An MoU in the field of land transport and roads infrastructure, signed by Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, and Dr Noura Mohammed Al-Mashaan, Minister of Public Works & Municipality of Kuwait. An MoU in the field of social development affairs, signed by Shamma bint Suhail Faris Al Mazrui, UAE Minister of Community Empowerment, and Dr. Amthal Hadi Al-Huwaila, Minister of Social Affairs, Social Development, and Family and Childhood of Kuwait. An MoU in industry and advanced technology, signed by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Khalifa Abdullah Dhahi Al-Ajeel Al-Askar, Minister of Commerce and Industry of Kuwait. An MoU in education sector, signed by Sarah bint Yousif Al Amiri, UAE Minister of Education, and Sayed Jalal Sayed Abdul Mohsen Al-Tabtabaei Minister of Education of Kuwait. An MoU in oil and gas cooperation, signed by Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, and Tariq Suleiman Al-Roumi, Oil Minister of Kuwait. An MoU in the field of combating human trafficking and another on legal cooperation were signed by Abdullah bin Sultan bin Awad Al Nuaimi, UAE Minister of Justice, and Nasser Yousef Al-Sumait, Minister of Justice of Kuwait. An MoU in the field of electricity, water, and future energy, signed by Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure and Dr. Subaih Al-Mukhaizeem, Minister of Electricity, Water, and Renewable Energy of Kuwait. An MoU in the field of promoting direct investment, signed by Mohamed Hassan Al Suwaidi, UAE Minister of Investment, and Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director-General of Kuwait Direct Investment Promotion Authority (KDIPA). An MoU in the field of data protection and information exchange in joint security projects, signed by Major General Khalifa Hareb Al Khaili, Undersecretary of the UAE Ministry of Interior, and Major General Ali Al-Adwani, Acting Undersecretary of Ministry of Interior of Kuwait. An agreement was also signed earlier on the "Artificial Intelligence Infrastructure Partnership" launched by MGX, BlackRock, Global Infrastructure Partners, and Microsoft, which now includes the Kuwait Investment Authority as a partner. In addition, a contract was signed between the Kuwait's Ministry of Defence and the UAE's EDGE Group for the procurement and delivery of several 'Falaj 3' class missile boats.
Dubai Eye
15-05-2025
- Business
- Dubai Eye
UAE, Turkmenistan seal partnerships in energy and infrastructure
The UAE and Turkmenistan have strengthened energy cooperation with two agreements on gas production and export. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC was a part of the UAE delegation visiting Turkmenistan to enhance cooperation with the country in key sectors including energy and infrastructure. The delegation included several representatives from the UAE government and private sector entities, including Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, and Ahmed Al Sayegh, Minister of State. They met with Gurbanguly Berdimuhamedov, the National Leader of the Turkmen people, Chairman of the People's Council of Turkmenistan, as well as Serdar Berdimuhamedow, President of Turkmenistan. ADNOC's XRG, PETRONAS and the Turkmenistan State Enterprise Hazarnebit signed the Production Sharing Contract (PSC) with the State Concern Turkmennebit, enabling joint exploration, development, and production of natural gas resources in the fields of Turkmenistan. XRG and PETRONAS also signed a long-term Gas Sales Agreement (GSA) with State Concern Turkmengas, ensuring a steady offtake and export of the produced gas. The visit reflects the commitment of both countries' leadership to advancing cooperation in economic and investment sectors for the mutual benefit of both nations and their people.
Bahrain News Gazette
12-05-2025
- Business
- Bahrain News Gazette
Transportation Undersecretary for Ports Attends UAE Maritime Week 2025
Dubai: Bader Hood Al Mahmood, Undersecretary for Ports and Maritime Affairs at the Ministry of Transportation and Telecommunications, participated in the official opening of the UAE Maritime Week 2025, held at the Dubai World Trade Centre and organised by the UAE Ministry of Energy and Infrastructure. According to Bahrain News Agency, the opening ceremony featured keynote addresses by senior officials, including Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, alongside representatives from the International Maritime Organisation (IMO) and DP World. UAE Maritime Week 2025 provided a prominent platform for stakeholders from across the maritime sector to build partnerships and explore future opportunities. As part of the programme, the Seatrade Maritime Logistics Middle East exhibition was held, offering a space for productive collaboration and support for the maritime transport industry.
