He chaired the meeting of the Executive Committee of "ADNOC" and approved its plans to produce low-emission fuels

Khalid bin Mohamed bin Zayed: “Futures contracts” have increased the attractiveness of “Murban” crude globally

Khalid bin Mohamed bin Zayed while chairing the meeting of the Executive Committee of the Board of Directors of "ADNOC".

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His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and head of the Abu Dhabi Executive Office, chaired the meeting of the Executive Committee of the Abu Dhabi National Oil Company (ADNOC) Board of Directors.

During the meeting, which was held at ADNOC's headquarters, His Highness reviewed the company's performance and strategic objectives, praising the achievements of Murban crude futures contracts, on the occasion of the one-year anniversary of the start of trading on the Abu Dhabi Futures Exchange.

His Highness explained that futures contracts have increased the popularity and attractiveness of Murban crude in the global market, and strengthened the UAE's position as a global energy center.

Since it began trading on the Abu Dhabi Intercontinental Exchange on March 29, 2021, a record number of Murban futures contracts, equivalent to one billion barrels of Murban crude, have been traded.

90 members

The number of participants in the stock exchange is witnessing a continuous increase with the presence of 90 participating members in the stock exchange, in addition to the joining of many international financial institutions, to conduct trading, clearing and direct settlement of traded contracts such as “JP Morgan”, “Morgan Stanley” and “Citigroup”. , Goldman Sachs, and HSBC.

His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan has approved ADNOC's plans to enhance ways of joint cooperation to produce low-emission fuels, as part of its efforts to keep pace with the transformation in the energy sector.

His Highness directed to continue supporting efforts to reduce the carbon footprint, and to benefit from the promising capabilities and opportunities of clean energy, including hydrogen.

During this meeting, His Highness and the Executive Committee adopted ADNOC's integrated approach to implement the best sustainability practices.

Shares of Fertiglobe

His Highness praised ADNOC's performance and recent achievements, including the success of the initial public offering of a stake in Fertiglobe.

His Highness congratulated ADNOC Drilling on its recent achievement of reaching 10,000 wells, expressing his confidence that the two companies have a good position and great capabilities that qualify them to achieve the goals of their ambitious plans for growth and development and to continue creating value in the long term.

His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan and the Executive Committee were briefed on the growth and development achieved by the two commercial units of "ADNOC", "ADNOC Commercial" and "ADNOC Global Trade", which completed at the end of 2021, a year since the start of their activities in the field of product trading and trading. Refined and crude oil.

duplicate products

The activities of the two commercial units in the field of trading and trading refined products and crude oil contribute to supporting ADNOC's continuous efforts to achieve additional value and provide new sources of revenue, by taking advantage of the areas of integration between the ADNOC group of companies.

Under the directives of His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, the Executive Committee provides strategic guidance to ADNOC in its endeavor to implement its 2030 strategy to advance economic growth in the UAE and support the fifty principles set by the wise leadership, which draws a roadmap for sustainable growth.

The Executive Committee of ADNOC's Board of Directors holds several meetings throughout the year to review the company's progress in implementing its strategic and financial objectives, in addition to its operational performance.

The meeting was attended by the Minister of Industry and Advanced Technology, the Managing Director and CEO of ADNOC and its group of companies, Dr. Sultan bin Ahmed Al Jaber, the Minister of Energy and Infrastructure, Suhail bin Mohammed Faraj Faris Al Mazrouei, the Managing Director and CEO of Mubadala Investment Company, Khaldoon Khalifa Al Mubarak, and the Head of the Finance Department. In Abu Dhabi, Jassem Al Zaabi, and Minister of State, Ahmed bin Ali Mohammed Al Sayegh.

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