UAE's first nuclear reactor to start operations in 2018, says energy minister

The United Arab Emirates’ first nuclear reactor is 96 percent complete and will start operations in 2018, energy minister Suhail Al Mazrouei said on Monday in Abu Dhabi.

By 2021, the UAE hopes that nuclear units will produce 25 percent of electricity, and 50 percent by 2050, he said at the International Ministerial Conference for Nuclear Power in the 21st Century.

Commenting on Kurdistan’s referendum on Independence from Iraq, which is taking place today, Al Mazrouei told CNBC Arabia it's too soon to talk about the impact of Kurdistan’s split on oil markets. He did add, however, that Iraq’s oil production will certainly drop if Kurdistan votes for independence.