Musabbeh Alkaabi Executive Director Low Carbon Solutions & International Growth Abu Dhabi National Oil Petroleum Company (ADNOC). 

 

ENERGY CONNECTS 27 FEBRUARY 2024 - ADNOC DISTRIBUTION REVEALS NEW 5 YEAR GROWTH STRATEGY

The management of ADNOC Distribution revealed its new 5-year growth strategy at an Investor Day in Abu Dhabi on Monday, 26 February. The Company, which aims to establish itself as a multi-energy, convenience, and mobility leader, is the UAE’s largest fuel and convenience retailer.

 

The Investor Day, held in Abu Dhabi, was attended by more than 50 investors and analysts from UAE and abroad and was followed by a field visit to the flagship ADNOC service station 933, where the Company demonstrated the latest offerings and innovations, including high-speed electric vehicle (EV) charging points, seamless payment methods and digitally enhanced services.

Speaking at the Investor Day event, Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution said: “Supported by our robust balance sheet and strong cash flow generation, ADNOC Distribution’s new growth strategy is underpinned by three key drivers: domestic growth, international platforms, and future-proofing the business. In its pursuit to become a multi-energy leader, the Company is also scaling up its portfolio of low-carbon energy solutions including biofuels, EV and hydrogen in support of the decarbonisation of the transport industry. We are confident in our ability to continue returning positive incremental shareholder value.”

 

The Abu Dhabi National Oil Company is projected to emit over 11 billion tonnes of greenhouse gases from 2023 to 2048 – a figure approaching China's annual emissions, as per analysis by the campaign group Global Witness, using data from industry monitor Rystad Energy. The forecast includes a planned production increase of 42% by 2030, and emissions equivalent to 11.3 billion tonnes of CO2 equivalent by 2050 from oil and gas combustion. At that rate, it is doubtful the UN's 1.5 degree target could be met, as per the COP21 Paris Agreement of 2015. So placing additional strains on other nations to reduce emissions, and raising cancer health concerns from lung ingested particulates. Though, as the demand for oil reduces in line with the increase of green hydrogen and wind generated electricity, for transport and heating. ADNOC's present investment agenda could backfire, unless, they remain flexible, and watchful of Canadian, European and US trends.

 

Though China and India will doubtless remain fossil fuel advocates, for longer than other nations. Since they still rely on, and are still building coal fired power stations. China remains more in tune with wind powered electricity generation. All of which may count for naught, if the Russia-Ukraine war escalates to a full blown nuclear WWIII scenario.

 

 

 

 

 

Sultan Ahmed Al Jaber is the Minister of Industry and Advanced Technology in the United Arab Emirates, CEO of the Abu Dhabi National Oil Company, UAE special envoy for climate change, and head of the COP28 climate summit. Under Al Jaber's leadership, ADNOC has invested in renewable energy and carbon capture, while also expanding its carbon business against trends in the industry. With investments in carbon outstripping those in renewables. Sultan Ahmed Al Jaber was also the president of the climate change conference cop 28 which was held in Dubai, UAE in 2023. Accordingly, the UAE has come under fire for greenwashing. Following the summit, Al Jaber announced that ADNOC would continue to invest in oil.

 

 

 

Some of the highlights from the new five-year strategy’s operational objectives for 2028 included: 

- Grow the ADNOC Distribution network to 1,000 service stations, a +20% increase compared to 840 stations in 2023.

- Target a minimum of 500 EV fast & superfast charging points to build a national network, a 10X increase from 2023.

- Allocate $250 to $300 million annually for CAPEX, with 70% focused on growth.

- The new dividend policy proposal will provide $700 million annually or a minimum 75% of net profit, whichever is higher, offering dividend upside potential from future earnings growth. The proposal is subject to shareholder approval at the AGM in March.

ADNOC Distribution said in a statement that it was committed to continue delivering EBITDA growth from 2024 to 2028 through its identified key strategic initiatives and focus areas. The Company will reallocate capital towards convenience and mobility to transform its stations into destinations-of-choice, continue to build on its international platforms with a focus on increased contributions, and future proof the business by unlocking new revenue streams offered by the energy transition.

 

EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization, is an alternate measure of profitability to net income. By including depreciation and amortization as well as taxes and debt payment costs, EBITDA attempts to represent the cash profit generated by the company's operations. 

 

 

 

ADNOC ON WIKIPEDIA

 

The Abu Dhabi National Oil Company (Arabic: شركة بترول أبو ظبي الوطنية), known by its acronym ADNOC, is the state-owned oil company of the United Arab Emirates (UAE).

It is the world's 12th largest oil company by production. As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030. It is the United Arab Emirate's largest oil company.

ADNOC's output was roughly flat at about 2.5 million barrels per day during the 1990s. It stood at 2.9 mbpd in 2008. Although its financial indicators are difficult to assess as the company has been described as reserved, it has also been described as efficient and well managed.

ADNOC is one of few oil companies in the world to make a substantial investment to increase oil production amid growing pressure to reduce output due to climate change.

ADNOC Headquarters is a skyscraper office complex located in Abu Dhabi. The building incorporates energy efficiency and sustainable engineering technologies, such as a double skin façade, photovoltaic glazing, LED exterior lighting. Designed by HOK, the overall building complex consisting of more than 65 floors with an office tower, corniche club, crisis management center, a heritage museum, and other support facilities was opened in 2001.

 

EXPLORATION & PRODUCTION OF OIL AND GAS

 

ADNOC ONSHORE

ADNOC Onshore works onshore and in shallow coastal water. It is previously known as Abu Dhabi Company for Onshore Petroleum Operations, ADCO. ADNOC Onshore operates primarily in Abu Dhabi. The company was originally known as Petroleum Development (Trucial Coast). It received its first concession on January 11, 1939, but did not begin geological operations until after World War II. The first commercially viable oil discovery was made at Bab in 1960.

 

In 1962, the company was renamed the Abu Dhabi Petroleum Company. Exports began to flow from the Jebel Dhanna terminal on December 14, 1963. Abu Dhabi's government acquired 25% equity in the company in 1973 and increased its stake to 60% in 1974. The company started using the name Abu Dhabi Company for Onshore Petroleum Operations, ADCO, in 1978.

 

ADNOC Onshore's primary exports are from the Jebel Dhanna and Fujairah terminals. ADNOC have a 60% share, the remaining 40% is split (CNPC (8%), BP (10%), Total (10%), Inpex (5%), CEFC (4%) and GS Energy of South Korea (3%)). In December 2018 ADNOC transferred China Energy’s stake in onshore to China ZhenHua Oil Company, awarding the company a 4% stake.

ADNOC OFFSHORE

ADNOC Offshore is the largest offshore oil producer in Abu Dhabi. It is ADNOC's dedicated offshore arm and is responsible for the development and delivery of oil and gas resources in Abu Dhabi waters. It was formed through the consolidation of two of ADNOC's upstream oil and gas companies: Abu Dhabi Marine Area Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO). With reorganisation, and the expiry of the 65-year-old ADMA concessions, the offshore concessions are now split by fields. ADNOC 60% then the 40% is split into Upper Zakum (Exxon / INPEX), (minor fields Umm Al Dalk, Satah (Inpex 40%)), Lower Zakum (Total, ENI, ONGC, INPEX), Umm Shaif and Nasr (Total, ENI), Sarb and Umm Lulu (CEPSA, OMV).

ADNOC DRILLING

ADNOC Drilling is ADNOC's oldest subsidiary. It was previously known as National Drilling Company, NDC. ADNOC Drilling is the largest drilling company in the Middle East. It drills for oil both onshore and offshore in Abu Dhabi. ADNOC currently has a 95% equity in ADNOC Drilling after energy services giant Baker Hughes, acquired a 5% stake (valued around $11 billion or AED40.4 billion) in 2018.

In September 2021, ADNOC Drilling announced its intention to list another 11% of shares in the company on the Abu Dhabi Securities Exchange (ADX) through an Initial Public Offering (IPO). On October 3, 2021, the company went public on the Abu Dhabi bourse, and became the most successful listing of all time in the emirate, jumping 30% on its first-ever day of trading.

EGYPES 2024 activities witnessed the holding of 80 discussion sessions with the participation of more than 300 speakers, while the accompanying exhibition, held on an area of 39 thousand square meters, also includes pavilions for 12 countries, including China, Cyprus, Germany, Greece, India, Italy, Romania, which is participating for the first time, Spain, Turkey, the United Arab Emirates, the United Kingdom, and the United States of America, in addition to 450 exhibiting companies from various countries. Supported by His Excellency Abdel Fattah El Sisi, all meeting to discuss Petroleum in a sustainable energy future.

 

https://www.energyconnects.com/news/oil/2024/february/adnoc-distribution-reveals-new-5-year-growth-strategy/

https://www.energyconnects.com/news/oil/2024/february/adnoc-distribution-reveals-new-5-year-growth-strategy/

 

 

 

HE Tarek El Molla Minister of Petroleum & Mineral Resources Arab Republic of Egypt	HE George Papanastasiou Minister Energy, Commerce & Industry Cyprus	HE Hayan Abdul Ghani Abdul Zahra Deputy PM & Minister of Oil Republic of Iraq	HE Pedro Rafael Tellechea Ruiz Minister Petroleum, Venezuela President Petroleos de Venezuela (PDVSA)	HE Antonio Oburu Ondo Minister of Mines and Hydrocarbons Equatorial Guinea
HE Dr Walid Fayad Minister of Energy and Water Lebanon	HE Francisco da Costa  Monteiro  Minister Petroleum Resources Democratic Republic of Timor-Leste	Alexandra Sdoukou Deputy Minister for Environment and Energy Greece	Hon Judith Kapinga Deputy Minister Ministry of Energy Tanzania	HE Dr Amani Abou-Zeid Commissioner for Infrastructure, Energy & Digitalisation African Union
Ditte Juul Jørgensen Director General for Energy European Commission	HE Haitham Al Ghais Sec. Gen. Organization of the Petroleum Exporting Countries (OPEC)	HE Dr Omar Farouq Ibrahim Sec. Gen. African Petroleum Producers Association (APPO)	HE Nasser Kamel Sec. Gen. Union for the Mediterranean (UfM)	HE Osama Mobarez Sec. Gen. East Mediterranean Gas Forum (EMGF)
Dr Houda Ben Jannet Organisation Méditerranéenne de l’Energie et du Climate	HE Eng Jamal Al Loughani Organization of Arab Petroleum Exporting Countries (OAPEC)	Murray Auchincloss CEO  British Petroleum (BP)	Terje Pilskog Chief Executive Officer Scatec	Musabbeh Alkaabi  Exec. Dir. Low Carbon Solutions & International Growth ADNOC
Mohamed Ismail Mansour Co-Founder, CEO, and Chairman Infinity Power	Lorenzo Simonelli Chairman and CEO Baker Hughes	Ali Al Jarwan Chief Executive Officer Dragon Oil	Maria Rita Galli Chief Executive Officer DESFA	Dr Eng Magdy Galal Chairman EGAS

 

 

 

 

EGYPES 2024 welcomed the international energy community from 19th until 21st February 2024 at the Egypt International Exhibition Center, Cairo, to address energy transition, security and decarbonisation globally. The Middle East is leading the conversation around a fair and equitable energy transition and energy future. At the nexus between North Africa, Sub-Saharan Africa, the Mediterranean, and the Middle East, Egypt is emerging as the gateway to new energy frontiers, as well as an attractive investment and partner destination in its own right. The event is supported by President Abdel Fattah el Sisi.

 

ترحب EGYPES 2024 بمجتمع الطاقة الدولي في الفترة من 19 إلى 21 فبراير 2024 في مركز مصر للمعارض الدولية لمعالجة تحول الطاقة والأمن وإزالة الكربون على مستوى العالم. يقود الشرق الأوسط الحوار حول التحول العادل والمنصف للطاقة ومستقبل الطاقة. وفي همزة الوصل بين شمال أفريقيا، ومنطقة جنوب الصحراء الكبرى في أفريقيا، والبحر الأبيض المتوسط، والشرق الأوسط، تبرز مصر باعتبارها بوابة إلى حدود جديدة في مجال الطاقة، فضلاً عن كونها وجهة استثمارية جذابة وشريكة في حد ذاتها.

 

 

aistaqbal mutamar "'iijibs 2024" mujtamae altaaqat alduwalii fi alfatrat min 19 'iilaa 21 fibrayir 2024 fi markaz misr lilmaearid alduwaliat bialqahirati, limuealajat tahawul altaaqat wal'amn wa'iizalat alkarbun ealaa mustawaa alealami. yaqud alsharq al'awsat alhiwar hawl altahawul aleadil walmunsif liltaaqat wamustaqbal altaaqati. wafi hamzat alwasl bayn shamal 'afriqia, wamintaqat janub alsahra' alkubraa fi 'afriqia, walbahr al'abyad almutawasiti, walsharq al'awsat, tubriz misr biaietibariha bawaabatan 'iilaa hudud jadidat fi majal altaaqati, fdlaan ean kawniha wijhatan aistithmariatan jadhaabat washarikatan fi hadi dhatiha.

 

 

 

 

Cairo looks to offer unprecedented participation from some 35,000 attendees and 2,200 delegates from the global energy community, as to the potential to adduce alternative Petroleum dialogue ahead of COP29 at Baku, Azerbaijan, November 2024, wherein the 'Parties' formulate plans to reverse global warming as their raison d'être.

EGYPES 2024 aims to steer leadership in climate change and sustainable energy production, focusing on responsible transition. EGYPES 2024 provides a business platform to boost bilateral trade, commerce and innovation, with 500 plus exhibiting energy related groups participating.

 

The land of the Pharaohs and Pyramids is an ideal location to discuss preventing the planet from becoming one vast desert, amid an oasis of unlimited renewable electricity, the host basking in untapped solar energy for green hydrogen via electrolyzers.

 

تتطلع القاهرة إلى تقديم مشاركة غير مسبوقة من حوالي 35000 مشارك و2200 مندوب من مجتمع الطاقة العالمي، فيما يتعلق بإمكانية تقديم حوار نفطي بديل قبل انعقاد مؤتمر الأمم المتحدة المعني بتغير المناخ (COP29) في باكو، أذربيجان، نوفمبر 2024، حيث تقوم "الأطراف" بصياغة خطط لعكس اتجاه ظاهرة الاحتباس الحراري باعتباره هدفها الرئيسي. سبب الوجود.

تهدف EGYPES 2024 إلى توجيه القيادة في مجال تغير المناخ وإنتاج الطاقة المستدامة، مع التركيز على التحول المسؤول للطاقة. توفر EGYPES 2024 منصة أعمال لتعزيز التجارة الثنائية والتجارة والابتكار، حيث تشارك فيها أكثر من 500 مجموعة عارضة ذات صلة بالطاقة.

تعتبر أرض الفراعنة والأهرامات موقعًا مثاليًا لمناقشة منع تحول الكوكب إلى صحراء شاسعة، وسط واحة من الكهرباء المتجددة غير المحدودة، حيث يستمتع المضيف بالطاقة الشمسية غير المستغلة للهيدروجين الأخضر عبر المحللات الكهربائية.

tatatalae alqahirat 'iilaa taqdim musharakat ghayr masbuqat min hawalay 35000 musharik wa2200 mandub min mujtamae altaaqat alealamii, fima yataealaq bi'iimkaniat taqdim hiwar naftiin badil qabl aineiqad mutamar al'umam almutahidat almaenii bitaghayur almunakh (COP29) fi baku, 'adharbijan, nufimbir 2024, hayth taqum "al'atrafi" bisiaghat khutat lieaks aitijah zahirat alaihtibas alhararii biaietibarih hadafaha alrayiysiu. sabab alwujudi.

tahdif EGYPES 2024 'iilaa tawjih alqiadat fi majal taghayur almunakh wa'iintaj altaaqat almustadamati, mae altarkiz ealaa altahawul almaswuwl liltaaqati. tawafur EGYPES 2024 minasat 'aemal litaeziz altijarat althunayiyat waltijarat walaibtikar, hayth tusharik fiha 'akthar min 500 majmueat earidat dhat silat bialtaaqati.

tuetabir 'ard alfaraeinat wal'ahramat mwqean mthalyan limunaqashat mane tahawul alkawkab 'iilaa sahra' shasieatin, wast wahat min alkahraba' almutajadidat ghayr almahdudati, hayth yastamtie almudif bialtaaqat alshamsiat ghayr almustaghalat lilhaydrujin al'akhdar eabr almuhalilat alkahrabayiyati.

 

 

 

EGYPES CONTACTS

delegates@egypes.co
conferences@egypes.com
egypes@egypes.com