{
  "id": 18310943,
  "title": "Energy security, AI and supply deals take centre stage as Adipec wraps up",
  "url": "https://urgent.news/2026/11/05/energy-security-ai-and-supply-deals-take-centre-stage-as-adipec-wraps-18310943",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-05T13:02:42.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/2026/11/05/energy-security-ai-and-supply-deals-take-centre-stage-as-adipec-wraps-up/"
  },
  "original_language": "en",
  "account": "The recent Adipec conference, which concluded on Thursday, saw energy security, AI, and supply deals as the main topics of discussion. The four-day event drew thousands of companies, with significant participation from Asia. Senior oil executives and energy ministers highlighted the supply challenges faced by the market, particularly due to the ongoing war in the Middle East, which has resulted in the closure of the Strait of Hormuz, a crucial channel for global oil trade. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director of Adnoc, stated that the Hormuz disruption has depleted nearly one billion barrels of global oil inventories and has caused diesel stocks to hit their lowest seasonal levels in 35 years in certain markets. Liquefied natural gas supply gaps have also increased to 600 billion cubic feet. Dr Al Jaber emphasized the significant rise in delivery costs, with logistics accounting for over 30% of a barrel's cost, up from less than 5% before the disruption. The disruption has led to reduced ship activity through the Strait of Hormuz, resulting in higher oil prices and increased global inflation. In response, the UAE is investing heavily in new infrastructure to supply crude to global markets, including the construction of a pipeline connecting Abu Dhabi and Fujairah on the east coast. Adnoc and OpenAI have also signed a new agreement, making Adnoc the first energy company to deploy OpenAI's Frontier technology, aiming to enhance efficiency and productivity through AI integration across their operations. Despite the ongoing war, the UAE has managed to maintain and even boost its oil exports by utilizing pipelines and ships, with India being among the biggest beneficiaries of the continued supply, receiving 15% of its total imports during the conflict. Energy ministers from various countries, including Venezuela, Egypt, Romania, and Azerbaijan, as well as CEOs from major oil companies such as BP, Oxy, and OMV, participated in panel discussions during the event. Notable new energy deals announced during Adipec included Adnoc Gas agreement with TotalEnergies for up to 1.6 million tonnes of LNG and XRG, Adnoc's international energy investment unit, signing a $1.5 billion deal with Shell to acquire a stake in Shell's Australian natural gas project.",
  "summary": "Energy security jeopardised by supply disruption throughout the Iran war and the growing use of AI by oil companies to improve productivity were among the key themes at Adipec , which concluded on Thursday. Thousands of companies took part in the four-day event, with large participation from Asia. Senior oil executives and energy ministers highlighted supply challenges impacting the market as the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}