UAE president forms new Abu Dhabi Supreme Council

CAIRO (Reuters) - United Arab Emirates (UAE) President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources.

Reuters December 28, 2020 00:12:01 IST
UAE president forms new Abu Dhabi Supreme Council

UAE president forms new Abu Dhabi Supreme Council

CAIRO (Reuters) - United Arab Emirates (UAE) President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources.

The current Supreme Petroleum Council, which regulates petroleum-related policies, will be merged with this new council, the Abu Dhabi media office said in a tweet.

Its members will continue to exercise their role as Abu Dhabi National Oil Co (ADNOC) board members until a new board is appointed, the media office said.

The UAE is a leading oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and most of its output comes from ADNOC.

(Reporting by Nayera Abdallah)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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