UAE Energy Minister: Slump in world oil prices will not impact UAE economy, OPEC has no plan to cut output

Abu Dhabi, 14 January 2015 (WAM): Slump in world oil prices will have no impact on the UAE's vibrant economy, Suhail bin Mohammed Faraj Faris Al Mazrouei, the UAE Minister of Energy, emphasised on Tuesday. The minister told the Gulf Intelligence UAE Energy Forum in Abu Dhabi that the UAE would move ahead with plans to boost its oil and gas production capacity and the UAE Strategy 2030 will continue to focus on energy management, efficiency and rationalisation. The UAE's refining capacity, he said, would increase to one million barrels per day by 2015. ''The UAE is not worried about its national economy due to the decline in the world oil prices... Its economy is strong