ADNOC Creates New Directorate
Abu Dhabi National Oil Company (ADNOC) has revealed that it has created a new Downstream Industry, Marketing & Trading Directorate, effective January 17, 2021.
The new directorate integrates the company’s existing Downstream & Industry directorate and Marketing, Supply & Trading directorate. Khaled Salmeen, who previously held the role of Executive Director Marketing, Supply and Trading, will lead the new directorate, which will govern ADNOC’s interests across its refining, gas processing, petrochemicals, product sales, shipping and integrated logistics and trading portfolio.
ADNOC noted that the organizational change will enable greater value chain optimization across its downstream and trading operations and improve performance, profitability and efficiency. The new directorate introduces a more integrated operating model that will help ADNOC provide a better service to its customers, while expanding its downstream operations, catalyzing the UAE’s industrial and post-Covid economic growth and further advancing its focus on In-Country Value (ICV), ADNOC outlined.
“As a central and integrated unit, the new directorate will deliver a more aligned and coordinated effort between customer and market demand and product supply,” ADNOC said in a statement posted on its website.
“It will enable a more agile response to market dynamics and customer needs, while supporting ADNOC’s goal to drive synergies and maximize value from every barrel and molecule that the company produces, refines, ships and sells,” the company added in the statement.
ADNOC describes itself as one of the world's leading energy producers and a primary catalyst for the growth and diversification of the Abu Dhabi economy. The company has a production capacity of more than 3.5 million barrels of oil per day and 10.5 billion cubic feet of natural gas per day, according to its website, which shows that ADNOC’s refining segment supplies more than 40 million tons of refined products to markets around the world every year.
Last month, ADNOC announced that it would boost in-country value to the United Arab Emirates to support post-Covid economic growth through its ICV program. As part of this commitment, ADNOC will drive over $43.6 billion (AED160 billion) back into the UAE economy over the next five years.
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