UAE Energy Minister named IPIC managing director
Minister replaces Khadem Al Qubaisi who steps down after eight years leading the investment company
United Arab Emirates Energy Minister HE Suhail Al Mazrouei has been named managing director of the International Petroleum Investment Company.
Petroleum engineer by education, Mazrouei is the chairman of the Board of Directors of Mubadala Petroleum and member of the Higher Advisory Committee of the Abu Dhabi Supreme Petroleum Council. He is also a board member of Dolphin Energy and sits on the Audit Committee of ADNOC
Mazrouei, who has served as the UAE Energy Minister since 2013, replaces Khadem Al Qubaisi who stepped down as MD and board member after eight years leading the investment company.
Al Qubaisi’s departure from the IPIC board came less than a week after the news of his resignation as a chairman from the UAE construction company Arabtec, which also saw its founder Riad Kamal leaving the board.
Al Qubaisi chairs the board of Spanish oil and gas company Cepsa, Borealis, Nova Chemicals, and First Energy Bank.
Sheikh Mansour bin Zayed retains his position as Ipic’s board chairman.