Abu Dhabi’s de facto ruler consolidates control over ADNOC

Abu Dhabi’s de facto ruler, Crown Prince Mohammed Bin Zayed, has cemented his control over the emirate’s state energy company by becoming chairman of a newly-established board of directors. The decision comes after Abu Dhabi in December merged the Supreme Petroleum Council, which used to set the government’s energy policy, with a new Supreme Council for Financial and Economic Affairs. Other members of the executive board include Khaldoon Al Mubarak, head of Abu Dhabi sovereign wealth fund Mubadala Investment Co., and Suhail Al Mazrouei, the UAE’s energy minister.