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