ADNOC chief left to focus on own businesses-sources

ADNOC chief left to focus on own businesses-sources

United Arab Emirates' President Sheikh Khalifa bin Zayed al Nahayan reshuffled the Supreme Petroleum Council (SPC) on Saturday and also appointed a new ADNOC director general.

June 26, 2011 12:41 by Reuters

Yousef Omair Bin Yousef, the long-standing chief executive of Abu Dhabi National Oil Company resigned to concentrate on personal business interests, two ADNOC sources said on Sunday.

United Arab Emirates’ President Sheikh Khalifa bin Zayed al Nahayan reshuffled the Supreme Petroleum Council (SPC) on Saturday and also appointed a new ADNOC director general.

Yousef was replaced by his deputy Abdulla Nasser Al Suwaidi after asking for some time to be relieved of his job to pursue “other commitments,” one source said, speaking on condition of anonymity.

“The deputy CEO now takes the top position,” said the source at the state-run company.

An ADNOC spokeswoman declined to comment.

Yousef was the head of ADNOC for over a decade and was also general secretary of the SPC which runs the UAE’s energy policy.

Sheikh Khalifa appointed SPC member Jawan Salem al Dhaheri as the new general secretary.

Abu Dhabi is home to more than 90 percent of the oil wealth in the UAE. The world’s third largest oil exporter has the capacity to produce more than 2.7 million barrels of crude per day.

(Reporting by Stanley Carvahlo, writing by Daniel Fineren; Editing by Amran Abocar)