Sultan Al Jaber, CEO of ADNOC, emphasized the need to reassess how energy supply is constructed, protected, and delivered in his opening speech at the ADIPEC 2026 conference in Abu Dhabi. He stated that global supply chains faced challenges last year that revealed critical vulnerabilities.
Statistics and Analysis
Al Jaber announced that since the disruption in the Strait of Hormuz, nearly 1 billion barrels of crude oil have been drawn from global inventories. In some markets, diesel reserves are at their lowest level in 35 years, while others face a shortage of 600 billion cubic feet of liquefied natural gas (LNG). He said, "Simply put, the world has reduced its supply reserves." He added that before this disruption, logistics costs were less than 5% of the cost of each barrel of oil, whereas now that figure is over 30%.
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Five Priorities for a Resilient Energy System
Al Jaber introduced five priorities for creating a resilient energy system: First, accessible supply with expanded strategic reserves, larger storage facilities, and flexible refining capacity close to consumers. Second, secure pathways to market with infrastructure built ahead of need. Third, operational intelligence, moving towards systems that predict risk and reduce the cost per barrel. Fourth, policies, financing, and insurance that give confidence to investors for continued business. Fifth and most importantly, people. He said, "Systems are not responsible; people are responsible."
Al Jaber referred to a new agreement between ADNOC, OpenAI, and G42 that was announced that morning. He stated that this collaboration will transform field development, well management, and ADNOC's business operations, making it the first energy company to use OpenAI Frontier. Sam Altman, CEO of OpenAI, was present at the opening session. He added, "From the moment ChatGPT was created, the world asked what energy could do for AI, and now, we will understand together what AI can do for energy."
Al Jaber also thanked the UAE Armed Forces, civil services, first responders, and ADNOC frontline teams for maintaining operations during disruptions, stating, "Our choices today will determine the energy landscape for the next decade. Let's build capacity and everything that supports it. Let's create partnerships that are sustainable in critical times."
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