Dr. Sultan Ahmed Al Jaber, Minister of State and Chief Executive Officer of ADNOC and its group of companies, stressed that ADNOC is going ahead with its approved plans for growth and expansion and consolidating its distinguished position as a reliable energy supplier and that the company is today in an excellent position to keep abreast of market changes and developments.
Al-Jaber said: "Thanks to the vision and guidance of the rational leadership, the support of the Supreme Petroleum Council, and the concerted efforts of the team in all the companies of the group, ADNOC today has great flexibility that allows it to adapt to the changes and developments of the market, as a result of the development and qualitative shift witnessed by the company in recent years. During which we focused on empowering our human cadres, improving performance, raising efficiency, increasing profitability and investment in developing our oil and gas resources, growth and expansion in the field of refining and petrochemicals, these factors together contributed to enhancing the speed, flexibility and ability of ADNOC to respond As for the market changes, ”His Excellency emphasized that ADNOC continues its commitment to these basic pillars while continuing to achieve tangible progress in its various projects in all stages and aspects of the sector.
He added: "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."
Al Jaber said 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 soon, allowing customers to better plan.
Al-Jaber pointed out that ADNOC continues its commitment to enhance value in all stages and aspects of business, including exploration and development, production, processing, refining, 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, which contributes to support the growth of the economy And local suppliers, including SMEs. He stressed that ADNOC continues to work to achieve the financial and operational goals of the company, consolidate its position as a reliable supplier of oil and gas and enhance its relations with customers, customers and partners around the world.
Al-Jaber said: “The UAE, under the wise leadership, continues to follow the path of the founding father, Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, by preserving the principles of extending and strengthening bridges of communication and international cooperation, and it believes in the principles of strategic and positive partnership, dialogue and consensus to achieve interests All parties and in various fields. "