In the recent scenario, UAE is emerging as a suitable investor. Hence its leadership is surely profitable to aid India’s developmental story. On Sunday, the UAE foreign minister Sheikh Abdullah bin Zayed Al Nahyan shall be travelling through the five cities in different states to interact with the stakeholders as well as meet and interact with Prime Minister Narendra Modi and Sushma Swaraj, the minister of external affairs in New Delhi.
According to sources Abdullah shall be discussing the UAE-Saudi attack on Yemen’s Hodeidah port that has been continued for a week. Abdullah has also been slated to visit the ICWA, the MEA-connected think tank.
Considering the alleged transformation regarding the energy relationship between India and UAE, it is being speculated as another subject of a joint ministerial workshop on June 25 on hydrocarbons.
It is our extreme fortune to inform you that our country India has progressed from being merely a buyer of oil from UAE to gaining its first upstream concession in the United Arab Emirates.
According to certain sources, this concession would probably provide us 1.2 metric tons of crude oil each year for the coming 40 years. Also, we would be given a seat on the board and will also be provided with an option for the new blocks that might open up.