The Abu Dhabi National Oil Company (ADNOC) confirmed that it is able to supply the markets with more than four million barrels per day in next April, indicating its continuation in plans for smart growth and expansion to consolidate the position of the UAE as a reliable supplier of energy.
The company stated, in a statement, that it is working to accelerate progress towards its goal to reach a production capacity of five million barrels per day, stressing that it is in an excellent position to keep abreast of market changes and developments.
In detail, the State Minister CEO of ADNOC and its group of companies, Dr. Sultan Ahmed Al Jaber, emphasized that ADNOC is going ahead with its approved plans for growth and expansion, and consolidating its distinguished position is a reliable energy supplier, indicating that the company is today in an excellent position that allows it to keep abreast of market changes. And developments.
Al-Jaber said, in a statement issued yesterday, that “thanks to the vision and guidance of the rational leadership, the support of the Supreme Petroleum Council, and the concerted efforts of the work team in all the companies of the group, (ADNOC) today has great flexibility allowing it to adapt to the market changes and developments, as a result of development and transfer The quality witnessed by the company in the past few years, during which we focused on enabling our human cadres, improving performance, raising efficiency and increasing profitability, investing in developing our oil and gas resources, and growing and expanding in the field of refining and petrochemicals.
He added that «these factors combined contributed to enhancing the speed, flexibility and ability of (ADNOC) to respond to market changes», stressing that “ADNOC” continues its commitment to these basic pillars, while continuing to work on achieving tangible progress in its various projects in all stages and aspects of the sector, and Al Jaber continued : "In line with our strategy to grow, expand and increase production, ADNOC has the potential to supply markets with more than four million barrels per day in next April, and we are also working to accelerate progress towards our goal of reaching a production capacity of five million barrels per day."
He stated that “within ADNOC’s commitment to flexibility and responsiveness to market factors, and to ensure that customers are given a clear future picture, future sales prices for March and April 2020 will be announced, allowing customers to plan better.”
Al-Jaber stressed that “(ADNOC) continues its commitment to enhance value in all stages and aspects of business, including exploration, development, production and processing, refining and derivatives and petrochemicals, and that the company is proceeding with the implementation of development and modernization projects, growth and expansion, and work to enhance the local added value of these projects, To contribute to supporting the growth of the economy and local suppliers, including small and medium-sized companies. ” He also stressed «ADNOC’s continuation of working to achieve the financial and operational goals of the company, consolidating its position as a reliable supplier of oil and gas and strengthening its relationships with customers, customers and partners around the world.