Sheikh Khaled Reviews ADNOC’s New Energy Market Expansions In Abu Dhabi Visit

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, recently visited ADNOC’s trading office at Abu Dhabi Global Market. He reviewed the achievements of ADNOC’s trading businesses, ADNOC Global Trading (AGT) and ADNOC Trading (AT). His Highness toured the trading floor and met Emirati commodity traders who are creating new revenue streams through ADNOC’s expansion into new energy markets.

Launched in 2020, ADNOC’s trading companies have unlocked significant revenue streams for the company. ADNOC has expanded its trading desks from refined products like gasoline, jet fuel, gasoil, and naphtha to include liquefied petroleum gas (LPG), liquefied natural gas (LNG), biofuels, sulphur, and carbon. This expansion supports the UAE’s growth into new energies and captures new market share.

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During his visit, His Highness highlighted the role of ADNOC’s trading businesses in strengthening Abu Dhabi’s position as a global trading hub. He emphasised that these efforts support the UAE’s growth into new energies and further diversify the economy to drive sustainable economic development for Abu Dhabi and the UAE.

His Highness was also briefed on how ADNOC is equipping UAE Nationals with skills and experience in international commodity trading through its Trading Academy. He stressed the leadership’s commitment to supporting Emirati youth as a cornerstone of the country’s success. Investing in skills development in key strategic areas is seen as fundamental to the UAE’s future growth.

AGT and AT employ over 100 Emiratis in their trading companies, with more currently undergoing training to become traders through the academy. UAE Nationals handle core trading functions such as physical trading, chartering for own flows and third-party volumes, and derivatives trading including hedging.

Global Presence

ADNOC has established active trading offices in Singapore and expanded its operations with offices in Europe. Plans are also underway to extend its operations to the United States (US). His Highness endorsed plans to further expand ADNOC’s trading activities to support global energy security and reinforce the UAE’s position as an important player in global energy markets.

ADNOC’s trading businesses utilise artificial intelligence (AI) and technology to manage risk, generate value, and ensure 100 per cent accuracy with every trade placed with counterparties. AGT trades refined products from ADNOC and other sources to the market while AT focuses on crude oil and LNG trades. AT is also active on ICE Futures Abu Dhabi (IFAD), an independent futures exchange for Murban Futures contract derivatives.

The visit underscored ADNOC's commitment to leveraging advanced technologies like AI for risk management and value generation. This approach ensures precision with every trade placed with counterparties.

The Crown Prince's visit highlighted ongoing efforts to diversify revenue streams through new energy markets while supporting Emirati youth development. These initiatives are crucial for sustaining economic growth in Abu Dhabi and across the UAE.

With inputs from WAM