Abu Dhabi National Oil Company (ADNOC) CEO Sultan Al Jaber has branded any attempt to close the Strait of Hormuz as “economic terrorism,” warning it poses a direct threat to global energy security.
In a recorded message to CERAWeek attendees in Houston, Texas, Al Jaber highlighted the chokepoint’s critical role: roughly 20% of the world’s oil and gas flows through it. Recent attacks on regional energy infrastructure and shipping have already constricted supply routes, driving sharp oil price spikes.
“When Hormuz is squeezed, the pressure is felt everywhere,” he said, explaining that disruptions raise consumer costs and slow global economic activity. The core issue, he added, isn’t resource scarcity but secure market access.
Escalating Gulf tensions have hit production, storage, and exports hard. ADNOC has faced operational disruptions but continues fulfilling supply commitments. Saudi Arabia and other producers are rerouting crude via the Red Sea to bypass Hormuz restrictions, while storage and logistics bottlenecks mount.
Al Jaber stressed that open energy corridors underpin market stability. “Energy security is the foundation of economic stability,” he noted, cautioning that prolonged closures could trigger lasting price volatility and ripple through industrial chains.
The UAE has bolstered resilience through infrastructure investments, diversified export routes, and digital tech. ADNOC is expanding globally in storage, LNG, and downstream assets amid shifting geopolitics.
Al Jaber urged international cooperation to protect these vital routes and sustain reliable global oil and gas flows.