Latest news with #ADNOCGroup
Gulf Today
23-05-2025
- Business
- Gulf Today
17,000 Job opportunities generated by Adnoc's ICV Programme for Emiratis
ADNOC announced that its In-Country Value (ICV) Programme has contributed to the creation of 17,000 job opportunities for Emirati talent in cooperation with its strategic partners in the private sector. This reflects the significant impact and positive results the programme has achieved since its launch in 2018. Eng. Salem Bafaraj, Vice President, In-Country Value and Industrial Development at ADNOC Group, stated during the fourth edition of Make it in the Emirates that ADNOC is focused on training and empowering Emirati talent, in line with the wise leadership's vision to invest in young national cadres, enhance their skills, and develop their capabilities. 'Today, we witnessed a strong turnout from qualified Emirati professionals, which reflects their enthusiasm and commitment to contributing to the energy and industrial sectors. Their eagerness to explore the job opportunities presented during the event is commendable.' He praised the positive engagement of participants and expressed his eagerness to continue supporting Emirati youth toward a promising professional future, in alignment with the leadership's vision of empowering national cadres across vital sectors. He emphasised that ADNOC is committed to enabling national talent to enter the workforce effectively, reaffirming the company's unwavering dedication to developing and empowering Emirati competencies, while contributing to industrial growth, economic diversification, and the creation of sustainable value for the UAE through the diversification of job opportunities and the acquisition of advanced and emerging skills.
Time of India
16-05-2025
- Business
- Time of India
Watch: Trump says he's 'not thrilled' with 'a drop of oil' UAE gifted him in viral video
Trump points to the 'one-drop' Murban oil that he got from the UAE and says he's not thrilled by the gift. President Donald Trump did not hide his disappointment with the gift he received from the UAE -- a small amount of UAE's flagship Murban crude oil , and said he was not thrilled because he was given only a drop of it. But it's better than no drop, Trump said, smiling. "The highest quality oil there is on the planet and they only gave me a drop of it…so I'm not thrilled! But it's better than no drop. ' Even Dr Sultan Ahmed Al Jaber, the UAE minister of industry and advanced technology and Adnoc (Abu Dhabi National Oil Company) managing director and group CEO, who gifted him the token oil laughed at Trump's complaining. Adnoc replied to Trump's grouse and posted: "Don't worry, there's plenty ore where that came from." — ADNOCGroup (@ADNOCGroup) What is Murban oil? A light and sweet oil, Murban crude has low sulfer content and it's less costly to refine this oil compared to heavier crudes. This is well-suited for the production of high-value products like jet fuel, premium gasoline and high-grade diesel. According to Adnoc, in April last year, Murban exports averaged 1.636 million barrels per day. The UAE has a production capacity of 2 million barrels per day for Murban. Trump's visit to the UAE on Friday marks the end of his four-day Middle East tour which was riddled by controversies because of the $400 million jet that he is supposed to accept from Qatar. It is a Boeing that will become President Trump's Air Force One after presidential modification, and will go to his museum after his term ends. Democrats called it an open-daylight bribery, but Trump said he is not a fool to turn down the gift of an expensive plane that is coming to him free, while the administration spends a lot of money for planes.
Sharjah 24
06-05-2025
- Business
- Sharjah 24
ADNOC completes $1.5B Debut International Sukuk Issuance
The Obligor for the Sukuk is ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and the primary debt capital markets issuing and rated entity for ADNOC Group. The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of US$1.5 billion, maturing on 6th May 2035, with an annual profit rate of 4.75 percent to be paid semi-annually. The offering generated significant interest across key global Islamic investors, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on 28th April 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. The successful issuance, which captured a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes. ADNOC Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering.
Zawya
06-05-2025
- Business
- Zawya
ADNOC successfully completes $1.5bln Debut International Sukuk Issuance
ABU DHABI - ADNOC Murban Sukuk Limited (the Issuer), a special purpose vehicle specifically set up to issue Sukuk certificates, has successfully issued its inaugural offering of Shari'a compliant trust certificates (Sukuk) under its newly established International Sukuk Programme (the Programme). The Obligor for the Sukuk is ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and the primary debt capital markets issuing and rated entity for ADNOC Group. The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of US$1.5 billion, maturing on 6th May 2035, with an annual profit rate of 4.75 percent to be paid semi-annually. The offering generated significant interest across key global Islamic investors, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on 28th April 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. The successful issuance, which captured a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes. ADNOC Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering.
Hi Dubai
01-05-2025
- Business
- Hi Dubai
UAE and Austria Pledge to Deepen Bilateral Ties and Cooperation
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, concluded a high-level visit to Vienna aimed at deepening economic, technological, and diplomatic cooperation between the UAE and Austria. During the visit, Dr. Al Jaber held strategic meetings with Austrian leaders including Chancellor Karl Nehammer and Foreign Minister Beate Meinl-Reisinger, where he conveyed greetings from the UAE leadership and reaffirmed the nation's commitment to advancing the Comprehensive Strategic Partnership signed in 2021. Talks focused on expanding collaboration across critical sectors such as industry, energy, technology, and infrastructure. Dr. Al Jaber and Austrian Minister of Economy and Energy Dr. Wolfgang Hattmannsdorfer co-chaired a business roundtable to identify mutual investment opportunities, particularly in advanced manufacturing, renewables, and data centre development. In a notable development, Masdar and OMV signed a Letter of Intent to cooperate on green hydrogen and sustainable fuels production in Austria, the UAE, and wider Europe, reinforcing both countries' clean energy ambitions. Dr. Al Jaber also met with Alexander Pröll, Secretary-General of the Austrian People's Party, to explore joint efforts in digital transformation and the application of smart technologies across public services. The visit comes amid a sharp rise in UAE-Austria trade. Non-oil bilateral trade hit AED 6.7 billion in 2024—a 28% increase from 2023—driven by surging UAE exports. Trade momentum continued into Q1 2025, with total volume rising 54.5% year-on-year. The visit underscored the growing strategic and economic partnership between the two countries, with a shared focus on innovation, sustainability, and long-term growth. News Source: Emirates News Agency
