Live Demo Agent Trial
Live Demo Agent Trial Log In Sign Up
News Wire / politics

UAE Pursues Economic Diversification Amidst Energy Transition

WLS-AM 890 Chicago Abu Dhabi 10d8d Impact 9
The United Arab Emirates has stated its intention to diversify its economy, a move seen as potentially for the United States. This announcement comes amid ongoing tensions between the US and Iran. The majority of the UAE government reportedly supports this economic diversification goal. The nation also aims to remain a player in the oil trade. The UAE aims to transfer oil and gas resources for its economic transformation and diversification into high-tech fields like artificial intelligence before the global energy transition is complete. Investments are being directed towards artificial intelligence and other high-tech fields. Abu Dhabi National Oil Company (ADNOC), a wholly government-owned diversified energy group, reported revenues of $100 billion and net profits of $10 billion in 2022. ADNOC's operations span exploration, production, refining, manufacturing, sales, and trading.

Topics

UAE US Iran economy diversification

Developing

  1. 862d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
  2. 862d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
  3. 862d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
  4. 862d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.

Sources · 7 independent

WLS-AM 890 Chicago

“that this is our chance to get rid of Iran and diverse our economies and have economic success. If that is their goal, well and the majority of the government want that, that is an incredible positive for the United States but you know the UAE coming out yesterday and saying that, I didn't expect that.”

WLS-AM 890 Chicago

“the UAE coming out yesterday and saying that, I didn't expect that. I actually had to do a double take on that. And also not only in diversifying their economy, which they believe they need to do, but also remaining a player in oil trade.”

CNR Economic Voice

“阿联酋希望在全球能源转型完成前,尽快将油气资源转移,用于自身经济转型,推进经济多元化战略,并投入人工智能等高科技领域。”

CNR Economic Voice

“阿联酋希望在全球能源转型完成前,尽快将油气资源转移,用于自身经济转型,推进经济多元化战略,并投入人工智能等高科技领域。据了解,阿布扎比国家石油公司是阿布扎比政府全资拥有的多元化能源集团。业务涵盖探测、生产、铸造、制造、销售及贸易等领域,是全球重要能源企业之一。公开数据显示,2022年,阿布扎比国家石油公司的营业收入为1000亿美元,净利润为100亿美元。”

Unlock the full story

Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.

Log in to upgrade