The Abu Dhabi National Oil Company (ADNOC) will hold on May 13 its Downstream Investment Forum to set out the roadmap for its downstream growth strategy and provide details of co-investment opportunities across its downstream value chain for new and existing partners.
The two-day forum will include an informative agenda that will provide a detailed overview of our downstream strategy as well as the partnership and investment opportunities that are available.
The company will also unveil the Ruwais Industrial Hub Masterplan, which is set to expand ADNOC's operational center in Ruwais into the largest integrated refining and petrochemical site in the world and generate many new business and investment opportunities.
ADNOC vision is ambitious. It will become one of the world’s leading integrated refining and petrochemical companies.
On April 24, ADNOC announced it is establishing a new trading unit within its Marketing, Sales and Trading Directorate.
The unit will introduce and manage non-speculative trading to further maximize value from every barrel of crude oil and refined product that is produced and marketed by the company.
As ADNOC accelerates delivery of its 2030 strategy, the trading unit will capitalize on the size and scale of the company’s crude oil and refined products portfolio, the flexibility within ADNOC’s refining system, and will leverage synergies and integration opportunities across its downstream value chain.
Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “As ADNOC grows and expands its upstream and downstream businesses, we will produce more products, and in turn, our Marketing, Sales and Trading function will play an even more critical role. Engaging in non-speculative trading will allow us to maximize value from our domestic and, over time, international downstream operations."
“By utilizing the flexibility in our downstream production facilities, accessing market opportunities and optimizing our supply chain, particularly to key growth markets, we aim to capture more value further along the value chain. Proactively managing our crude oil and refined product flows across key geographies, combined with the optionality provided by our first-class assets and geographic location, will allow us to constantly optimize our operations, capture market opportunities, and secure the highest value.”
“Looking out over the next two decades, we anticipate the sharpest growth within the energy sector will be petrochemicals, with demand forecast to climb 150 percent by 2040,” Dr. Al Jaber said. “To capitalize on this opportunity and make ADNOC more resilient against possible price volatility, our goal is to become a major global downstream player, creating a strong pull for our products, combined with the flexibility to respond quickly to shifting market needs.”