From The Report: Dubai 2019
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Although Dubai’s growth and prosperity have been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of the emirate’s GDP in 2016. Energy’s contribution to national GDP in recent years has averaged around 45% for the UAE as a whole, but only about 5% in Dubai. Still, Dubai operates as a centre for oil and gas trade. The emirate has diversified activities to become a global financial and trading hub, and hydrocarbons continue to have a major impact on economic activity. At the same time, Dubai is right at the forefront of what might be called the new emerging cleaner energy world, by developing and promoting disruptive technologies. This chapter contains interviews with Saif Humaid Al Falasi, Group CEO, Emirates National Oil Company; and Saeed Mohammed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority.