United Arab Emirates

At the beginning of the 1960s, the first oil company teams carried out preliminary surveys and the first cargo of crude was exported from Abu Dhabi in 1962. As oil revenues increased, ruler of Abu Dhabi, Zayed bin Sultan Al Nahyan, undertook a massive construction program, building schools, housing, hospitals and roads. When Dubai’s oil exports commenced in 1969, Rashid bin Saeed Al Maktoum, the de facto ruler of Dubai, was also able to use oil revenues to improve the quality of life of his people.

The United Arab Emirates is situated in Southwest Asia, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia; it is in a strategic location along southern approaches to the Strait of Hormuz, a vital transit point for world crude oil.