Here’s why a slump in oil prices will not impact UAE - Khaleej Times:
"Slump in world oil prices will have no impact on the UAE’s vibrant economy, Suhail bin Mohamed Faraj Fares Al Mazrouei, the UAE Minister of Energy, emphasised on Tuesday.
The minister told the Gulf Intelligence UAE Energy Forum in Abu Dhabi that the UAE would move ahead with plans to boost its oil and gas production capacity and the UAE Strategy 2030 will continue to focus on energy management, efficiency and rationalisation. The UAE’s refining capacity, he said, would increase to one million barrels per day by 2015.
“The UAE is not worried about its national economy due to the decline in the world oil prices... Its economy is strong and based on a policy through which the government seeks to reduce dependence on oil year after year. The UAE economy was not affected by previous instances of decline in oil prices and it will not (happen now), thanks to its economic wellbeing,” Al Mazrouie stressed."
'via Blog this'
No comments:
Post a Comment