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Media in Abu Dhabi 20-02-2019 / WAM /
HH Sheikh Thiab bin Mohammed bin Zayed Al Nahyan, Chairman of the Department of Transport and member of the Executive Council of the Emirate of Abu Dhabi and member of the Supreme Council of Petroleum during a visit to Port Khalifa in Abu Dhabi, briefed ADNOC Logistics and Services, the logistics arm of Abu Dhabi National Oil Company (ADNOC) His Highness continued to explain the company’s strategy for growth, which aims to develop and strengthen its position as a leading global player in the field of shipping.
During the visit, HRH briefed the Board on ADNOC’s ambitious growth plans to provide more comprehensive and competitive value propositions that will enable it to capitalize on market growth and enhance its role by supporting its marketing and commercial capabilities by enabling ADNOC Logistics and Services, Crude oil in conjunction with its efforts to expand its fleet to transport gas and bulk dry goods by adding more than 25 vessels to it during the next five years ..
These plans will enable ADNOC to sell more of its products on a delivery basis, increase its global presence, open new market opportunities and enhance value from its business across the industry.
HH Sheikh Thiab Bin Mohammed Bin Zayed Al Nahyan, Chairman of the Board of Directors of ADNOC, expressed his support for ADNOC’s efforts to promote economic growth and prosperity. He praised ADNOC’s commitment to achieving its strategic objectives of growth and its efforts to enhance operational efficiency, flexibility, Performance and enhance flexibility in various fields and aspects of business in the oil and gas sector.
His Highness launched the Reem 1 vessel, which has a capacity of 2,850 TEUs, which represents the latest addition to ADNOC Logistics and Services fleet from sea freighters, bringing the total number of vessels to 123.
During his visit to the port of Khalifa, HH Sheikh Dhiyab bin Mohammed also witnessed the signing of a memorandum of understanding between ADNOC Logistics and Services and the Chinese Anhua Petrochemical Company in the field of transporting LPG to meet the growing demand for gas in the energy market.
Wanhua Petrochemicals is an ADNOC customer who has signed a 10-year contract to buy 1 million metric tons per year of ADNOC’s LPG production.
HH Sheikh Dhiyab bin Mohammed bin Zayed Al Nahyan received HE Dr. Sultan bin Ahmed Al Jaber, Minister of State and Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC) and its Group of Companies, and Captain Abdul Karim Al Musabi, CEO of ADNOC Logistics and Services. Which has 3400 employees and a group of leading energy and marine services in the UAE.
“In line with the leadership of ADNOC, ADNOC continues to work towards maximizing the value of ADNOC’s work in all fields and phases of the oil and gas sector,” said HE Dr. Sultan Ahmed Al Jaber. “We are honored to welcome His Highness Sheikh Diab Bin Mohammed Bin Zayed Al Nahyan, ADNOC’s strategy to develop and modernize ADNOC Logistics and Services to ensure that it can meet the current and future requirements of the Group in the field of shipping, marine and logistics services, as well as ADNOC Group’s drive to enhance its trade capabilities and ensure that our products are delivered to customers Customers around the world. ”
“ADNOC Logistics and Services is a key link within the ADNOC Group’s supply chain, delivering oil, gas and petroleum products to our customers around the world. As part of our efforts to develop our business in the field of trade and enhance our integrated marine capabilities, we will take advantage of the growth opportunities available in the market. And to strengthen ADNOC’s supply and service position as the largest regional integrated marine services company. ”
ADNOC Logistics and Services was established in late 2016 after the merger of three ADNOC, ADNATCO, Ershad and Esnad subsidiaries. This integration has integrated shipping services, marine services, marine logistics services and land services, Enhancing the company’s institutional capabilities.
Following the merger, ADNOC Logistics and Services succeeded in increasing revenue by 34% and the company’s total operating profit since the merger was up 220%.
ADNOC’s comprehensive business model contributes to value creation through four main activities: First, shipping activities, both through their own vessels and by charter vessels, including crude oil and refined products, bulk dry goods, and natural gas transportation Marine services, including the management of oil ports, diving services and dealing with oil spill. Thirdly, logistics services including marine support vessels and integrated logistics base. Fourth, land services, which include the operation of a marine terminal and a container terminal.
ADNOC Logistics and Services will play a pivotal role in the implementation of ADNOC’s 2030 Smart Growth Strategy, which aims to increase the production capacity of crude oil to 4 million bpd by the end of 2020 and 5 million bpd by 2030.
In refining and petrochemicals, ADNOC plans to triple its petrochemical production capacity to 14.4 million tonnes per year by 2025 and double its refining capacity by 2025.
ADNOC’s ambitious growth plan and its focus on enhancing its business capabilities provide significant business opportunities for ADNOC Logistics and Services.
