Dr. Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology, CEO of ADNOC and its group of companies, and Chairman of the Board of Masdar, stated today that Iran’s closure of the Strait of Hormuz constitutes economic terrorism that impacts all nations globally, with repercussions extending far beyond the energy markets.
While inaugurating the SERA Energy Week in Houston, Texas, he emphasized that when the security of the Strait of Hormuz is threatened, production costs for factories, farms, and households worldwide rise daily.
He asserted that energy security is not merely a slogan but a critical factor separating light from darkness, and the continuation of vital services from their cessation. Recent weeks have highlighted the necessity to keep the world’s lifelines operational, pointing out that “the Strait of Hormuz, a mere twenty-one miles wide, facilitates the transit of twenty million barrels daily—equivalent to one-fifth of the world’s daily oil and gas needs—as well as over a third of global fertilizers and nearly a quarter of the world’s petrochemical output. This crucial artery carries a substantial amount of the essential materials required for the global economy; yet, Iran seems to believe that closing it represents an acceptable strategy.”
He added, “When the security of the Strait of Hormuz is endangered, the pressure instantly permeates the globe, causing oil prices to soar by 50% within three weeks. This increase burdens the most vulnerable demographics with higher living costs, hampers economic growth everywhere, and escalates daily expenses for factories, farms, and households globally. Thus, endangering the Strait of Hormuz is not an aggression against a certain country, but economic terrorism against all nations. No country should be allowed to hold the Strait of Hormuz hostage now or at any time. While we appreciate efforts aimed at stabilizing markets and reducing prices, this is not just a supply issue; it is a security matter that requires one sustainable solution: keeping the strait open. Freedom of navigation is a fundamental principle of international law and the United Nations Convention on the Law of the Sea, and Iran’s actions affect people worldwide, particularly the most vulnerable.”.
Dr. Al Jaber emphasized that the United Arab Emirates did not desire this conflict and took every possible measure to prevent it but was fully prepared to confront it when necessary. He stated, “These events have tested our defense capabilities, reinforcing our strength and resilience and revealing our true character.” He added, “At ADNOC, we have faced attacks that no civilian entity should endure, especially considering our focus on providing energy resources to the world. We are implementing exceptional measures to ensure the safety of our personnel and to continue supplying energy resources to all customers, while also defending our beloved homeland, values, and principles. This experience has confirmed the validity and credibility of our development model based on realism, rather than ideologies, moving steadily with a practical methodology focused sharply on results.”
He elaborated that the stability of the UAE and ADNOC in such circumstances stems from years of investment in infrastructure, crisis readiness, long-term planning, and building strategic partnerships. He remarked, “For us in the UAE, partnership is not merely a practice we adopt; it is part of our identity. Our commitments are solid, and credibility is central to our approach. When necessary, we take the initiative to provide support, thus ensuring that our relationships with all partners, including the United States, persist. Through ADNOC, XRG, and Masdar, we have invested over $85 billion in energy assets in the United States to back electricity generation and advanced chemical manufacturing, as the U.S. offers a unique blend of abundant resources and investment stability. We continue to explore numerous opportunities across the energy value chain and work to enhance our investments in infrastructure, from storage facilities to liquefied gas plants and regasification stations.”
Looking forward, he mentioned that the current crisis has revealed significant disparities in visions between those striving for stability and prosperity and those seeking to sow instability. He clarified that “the UAE made its choice long ago. We established ADNOC to be one of the world’s most reliable energy companies—not because disruptions don’t affect us, but because we stand firm and continue to work steadily in the face of them. Thus, we have diversified our sources and methods of energy production, strengthened the pathways linking supplies to markets, focused on integrating a variety of energy sources comprehensively, and leveraged technology and artificial intelligence in all our operations to multiply efficiency, outlining the next phase in the energy sector while building a global network of partnerships with stakeholders who firmly believe that energy security is a shared responsibility.”
He issued an open invitation to energy sector leaders to participate in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in November, stating: “Recent developments have shown that some work to enhance stability while others merely observe disruptions. Stability is not achieved automatically; it must be built through determination and collective work.” He further remarked, “If you believe that cooperative approaches to promoting stability should prevail over conflict mentalities, you are welcome with us. Therefore, I invite you to join us at ADIPEC in November, transforming it from just a conference into a gathering emphasizing the necessity of resilience in the global energy system.”
Notably, SERA Energy Week is taking place from March 23 to 27, while ADIPEC will be held from November 2 to 5, 2026, at the ADNEC in Abu Dhabi.