The UAE’s new Energy Minister, Mohammed Al Hamili, has vowed to stick with Opec’s policy of supplying enough crude oil to help ensure market stability.

“The UAE’s oil policy will continue unchanged,” Hamili said.
“The UAE continues its obligations in providing adequate crude oil supplies ... to realise stability in
world oil markets and the global economy and in the interests of producers and consumers.”
Veteran oil man Hamili replaced Obaid bin Saif Al Nasseri, who was appointed in 1997. Hamili will run an expanded portfolio that combines oil, electricity and water.
“This shows that the UAE is moving toward realising co-operation and connection between these sectors to make the best use of its resources,” said 51-year-old Hamili, most recently director of marketing and refining at the Abu Dhabi National Oil Co (Adnoc).
“Hamili is an impressive choice for oil minister,”
said Gary Ross, chief executive of New York’s PIRA Energy Consultancy. “His knowledge and grasp of the oil markets will certainly provide Opec with valuable input.”
Other western oil executives also welcomed the appointment of the
51-year-old Harvard-educated Hamili, who previously ran Adnoc’s finance, marketing and personnel departments.
Hamili is also a committee member of the Supreme Petroleum Council, which sets oil policy in the UAE.
After the cabinet announcement, which combined oil, electricity and water under one portfolio, officials said that Abu Dhabi would maintain its existing oil and Opec policy.