ENOC Board appoints Hussain Sultan Lootah as Acting Chief Executive Officer of the Group
Mr. Lootah takes over from Mr. Saif Humaid Al Falasi, who led the Group's progress and expansion for the last 10 years.
Mr. Hussain Sultan Lootah, Acting CEO of ENOC Group said: 'ENOC Group is at the forefront of building a more sustainable energy landscape for the UAE and the wider region. I am honoured to step into this new role and be part of the ENOC Group success journey, and look forward to working closely with ENOC's talent and leaders to build on its legacy of innovation and excellence.'
With three decades of leadership experience in the Oil & Gas industry, Mr. Lootah brings deep expertise in finance, commercial strategy, project management, and talent development. His career spans key leadership roles in the field, where he led operations and drove significant progress in Emiratisation and human capital development.
About ENOC Group:
ENOC Group is a leading integrated global energy player and a wholly owned entity of the Government of Dubai that is integral to the Emirate's success. ENOC owns and operates assets in the fields of exploration & production, supply & operations, terminals, fuel retail, aviation fuel and petroleum products for commercial & industrial use. The Group's general business operations include automotive services, non-fuel F&B retail and fabrication services. Servicing thousands of customers in over 60 markets, the Group employs a multi-national workforce of over 12,500 employees and is deploying its world-class customer service, latest innovations, and technologies as well as best practices to empower the UAE's social and economic development. For further information, please visit: www.enoc.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 minutes ago
- Zawya
Saudi Arabia ranks among top 3 globally in mega and giga-project volume: Report
Saudi Arabia has recorded a 643 percent surge in mega-projects since 2010, rising from 64 to 476 projects in 2025, placing it among the top three countries globally for such projects, according to a new report by UK-based global consultancy and construction company Mace. For giga-projects specifically, Saudi Arabia shares second place globally with India, with 43 giga-projects each, behind the United States, which leads with 88, the report titled ' The Future of Major Programme Delivery' said. The report classifies mega-projects as those with a capital value of $1 billion or more and giga-projects as those with a value of $10 billion or more. Overall, the US tops the chart with 1,663 mega and giga-projects (active and complete), followed by India (729), Saudi Arabia (577), and the UK (484). The UAE (233) is placed seventh after Australia (451) and Canada (331). The growth in Saudi Arabia is driven by the Kingdom's ongoing transformation under Vision 2030, which includes landmark projects such as NEOM, The Red Sea Project, Diriyah, Qiddiya, King Salman International Airport, and New Murabba. The sectoral breakdown of Saudi Arabia's mega-projects includes: Energy and utilities: 178 Commercial and leisure: 110 Infrastructure: 75 Residential buildings: 71 Industrial: 42 Institutional: 42 High delivery performance The report said the Kingdom ranks among the most efficient globally in delivering energy and utility mega-projects, with an average project duration of under nine years from announcement to completion—matching timelines observed in the US, Hong Kong, and the Philippines. According to data presented in the report, the average delivery duration in Saudi Arabia for energy and utility, and residential building mega-projects, is around 8 years, indicating a high level of progress from announcement to completion. However, for infrastructure mega projects, the average duration is around 12 years. Incidentally, the Kingdom also has the sixth highest proportion of stalled mega-projects since 2010, highlighting the inherent complexity and risk in managing such large-scale undertakings. The Future of Major Programme Delivery' is based on analysis of a dataset of more than 5,000 mega and giga-programmes and projects around the globe. (Writing by Anoop Menon; Editing by SA Kader) (
Zawya
5 minutes ago
- Zawya
MENA investment banking fees dip 2% in H1 2025 to $773.7mln
Investment banking fees in the MENA region dipped 2% year-on-year in the first half of 2025, according to a new LSEG Deals Intelligence report, during a period that saw elevated geopolitical tensions, oil price volatility and fears of a global trade war. Equity capital markets were the most impacted, with underwriting fees declining 18% to $169.9 million, marking a two-year low, according to LSEG's 'MENA Investment Banking Review H1 2025' data. An estimated $773.7 million in investment banking fees were generated in MENA over the period, down from $790.28 million in H1 2024, with HSBC Holdings taking the top spot with $64 million in H1 fees or a 6% year-on-year increase. JP Morgan took second place, with $56 million in banking fees, signifying a 65% year-on-year increase, followed by Citi coming in third, generating $50.8 million in fees and a 55% increase over H1 2024. Rise in issuances The LSEG report also revealed a 20% rise in debt capital markets' underwriting fees to $278.9 million in the first half of 2025, hitting an all-time high. The MENA region saw a record surge in bond issuances, totalling $86.8 billion during the first half of 2025, and indicating a 17% rise in value over last year, besting all previous first half tallies. Advisory fees earned from completed mergers and acquisitions (M&A) transactions totalled $191 million, 52% more than the value registered last year at this time and the highest first-half total since 2022, LSEG data revealed, which was buoyed by robust dealmaking in MENA, reaching $115.5 billion in value in the first half of 2025 or a 149% increase compared to the same period last year. The largest completed deal in the region involved Scopely, a US-based firm backed by Saudi Arabia's Public Investment Fund, which signed a deal worth $3.5 billion to acquire the video game division of Niantic Labs. In the region, Saudi edged out the UAE once again regionally, accounting for 41% of all MENA fees generated during the first half of 2025, followed by the UAE at 35% and Qatar at 7%. According to LSEG, syndicated lending fees declined 40% compared to year ago levels to US$133.9 million, hitting a five-year low. LSEG Investment Banking fees are imputed for all deals without publicly disclosed fee information.
Gulf Business
20 minutes ago
- Gulf Business
UAE and Azerbaijan sign CEPA to boost trade, investment ties
Image courtesy: WAM The UAE and Azerbaijan signed a comprehensive economic partnership agreement ( The agreement was signed during an official ceremony witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Azerbaijani President Ilham Aliyev, in what both sides hailed as a significant step forward in their long-standing economic and diplomatic partnership. In a report published on state news agency, WAM, Sheikh Mohamed said the CEPA reflected the UAE's commitment to building global development partnerships that contribute to sustainable growth, promote peace and stability, and create opportunities for coming generations. Signed by UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi and Azerbaijan's Minister of Economy Mikayil Jabbarov, the agreement is designed to enhance trade and investment flows, strengthen private sector collaboration, and unlock new opportunities in sectors including renewable energy, tourism, logistics, and construction. UAE-Azerbaijan CEPA to boost trade and bilateral relations The UAE-Azerbaijan CEPA is expected to empower small and medium-sized enterprises (SMEs), streamline supply chains, and foster innovation-led economic cooperation between the two nations. It builds on a robust bilateral trade relationship, with non-oil trade between the two countries reaching $2.4bn in 2024, a 43 per cent increase year-on-year. The UAE is currently the leading Arab investor in Azerbaijan, with total investments exceeding $1bn. UAE's CEPA programme The deal is part of the UAE's broader CEPA agenda, which has become a key pillar of the country's foreign trade strategy. With 27 agreements now concluded, the In 2024 alone, the CEPA programme helped drive the UAE's non-oil trade to a record $816bn, a 14.6 per cent year-on-year increase. Officials said the CEPA would enhance market access and trade flows with high-growth economies representing over a quarter of the world's population.
