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Ye Jianming Meets with CEO of ADNOC

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On the morning of May 11, Ye Jianming, Chairman of the Board of CEFC China, met with a delegation led by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and CEO of Abu Dhabi National Oil Company (ADNOC). The two sides conducted in-depth talks on cooperation in the upstream and downstream energy sectors, financial services, ports, and infrastructure construction, and agreed to set up contact mechanisms based on cooperation consensus for efficient and pragmatic follow-up.


Dr. Sultan noted that Abu Dhabi attaches great importance to its relationship with China; as the great Belt and Road Initiative is highly aligned with UAE’s strategies, the economic cooperation between Abu Dhabi and CEFC China is beneficial for the bilateral friendship. He added that Abu Dhabi is willing to cooperate with CEFC China in more projects concerning the upstream and downstream of the oil and gas industry, as well as in the construction of ports and free trade zones. In the meanwhile, he expressed hope to explore the Chinese market with CEFC China’s resource integration capability.


Signing a cooperation agreement with ADNOC this February, CEFC China successfully gained a 4% stake in Abu Dhabi’s onshore oil blocks, laying a solid foundation for future cooperation. As noted by Ye Jianming, CEFC China is willing to expand collaboration in energy, infrastructure and logistics between the two sides; and promote enterprise cooperation and market interaction between China and UAE with its financial services, including issuing bonds and setting up cooperation funds.


The meeting was also attended by Mr. Abdulaziz Abdulla Ismail Mohamed Alhajri, Director of Downstream of ADNOC, Dr Ali Al Yabhouni, Advisor of ADNOC, Rashed Matar Alqemzi, UAE Consul General to Shanghai, Chan Chauto, President of CEFC China, Li Yong, Executive Director of CEFC China, Chen Qiang, Vice President of CEFC China, Wang Zhou, General Manager of CEFC Shanghai International Group Finance Co., Ltd., Cai Feng, General Manager of CEFC China Oil and Gas Development Center, and Zhang Yaping, General Manager of CEFC Shanghai Guohui Environmental Science and Technology Co., Ltd.

 
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