Latest news with #AbuDhabiNationalOilCompany
Zawya
a day ago
- Business
- Zawya
ADNOC lowers Murban export forecast for August 2025 to May 2026
SINGAPORE - Abu Dhabi National Oil Co (ADNOC) has lowered its monthly export forecast for Murban crude from August to next May to increase processing at its own refinery, the company said. ADNOC set its August export forecast of the light Murban grade at 1.705 million barrels per day (bpd), according to a company report on Saturday. That is 65,000 bpd lower than the 1.77 million bpd forecast previously. ADNOC also lowered the forecast for September 2025 to May 2026 by 100,000-177,000 bpd while keeping forecast volumes for June and July 2025 unchanged. The reduction is primarily because of feedstock optimisation and increased Murban processing at ADNOC's Ruwais plant, it said in the report. The company had been increasing Murban exports as a result of OPEC+ output increases that pressured crude prices. The OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries and allies such as Russia has agreed to increase production by nearly 1.4 million bpd between April and July.
Arabian Post
19-05-2025
- Business
- Arabian Post
ADNOC Drives UAE Economy with Dh65.7bn Local Contracts
Abu Dhabi National Oil Company has granted contracts totaling Dh65.7 billion to nearly 400 local suppliers, contractors, and service providers during the first half of 2025. This extensive award reflects ADNOC's ongoing commitment to strengthening the United Arab Emirates' economy through its In-Country Value programme, which aims to bolster domestic industries and national supply chains. The contracts cover a diverse range of sectors vital to ADNOC's operations, including drilling, logistics, operational support services, and engineering, procurement, and construction . This allocation highlights ADNOC's strategic use of procurement as a lever to stimulate private sector growth and enhance local content in the oil and gas value chain. Dr Saleh Al Hashmi, ADNOC's Director of Commercial & In-Country Value Directorate, emphasised the economic impact of these awards, noting that the ICV programme remains a key driver of industrial and economic development in the UAE. He highlighted that awarding such significant contracts to local businesses showcases ADNOC's confidence in the capabilities of domestic suppliers, reinforcing the company's role in fostering sustainable economic diversification. ADNOC's focus on the ICV programme aligns with the UAE government's broader agenda to reduce reliance on imports, enhance technological transfer, and increase employment opportunities for Emiratis within strategic sectors. This approach not only supports the company's operational efficiency but also strengthens the national economy by encouraging the growth of local enterprises. The contracts' distribution across multiple industries also signals ADNOC's intention to develop an integrated supply ecosystem, reducing external dependencies while nurturing innovation and skills development within the country. By investing heavily in local vendors, ADNOC aims to cultivate a competitive and resilient private sector that can sustain long-term industrial progress. Among the major categories, drilling contracts address critical upstream operations, enabling ADNOC to optimise exploration and production activities. Logistics contracts ensure the seamless movement of materials and personnel across ADNOC's extensive infrastructure, which spans land, sea, and air. Operational support services encompass maintenance, technical assistance, and other specialised activities that maintain uninterrupted energy output. EPC contracts are vital for the construction and development of new facilities and infrastructure enhancements, reflecting ADNOC's expansion and modernisation ambitions. These contracts come amid a challenging global energy landscape marked by fluctuating prices and geopolitical tensions. ADNOC's emphasis on domestic supplier engagement provides stability for local companies, ensuring consistent business flow and encouraging further investments in infrastructure, workforce training, and technology upgrades. The scale of contract awards in this period underlines ADNOC's procurement strategy's effectiveness, which mandates rigorous evaluation of suppliers' technical capabilities, financial strength, and adherence to sustainability standards. The inclusion of nearly 400 companies illustrates the depth and breadth of the UAE's industrial base, encompassing both large established firms and small- to medium-sized enterprises . This diversified supplier base contributes to ADNOC's resilience, enabling it to mitigate risks linked to supply chain disruptions while fostering competition that drives quality improvements and cost efficiency. SMEs, in particular, benefit from ADNOC's support through tailored development programmes and easier access to tender opportunities, which promote entrepreneurship and innovation. ADNOC's drive to enhance local content aligns with international trends where national oil companies seek to boost domestic participation in their operations to create broader economic value. The UAE's approach via the ICV programme is seen as a benchmark for regional energy companies aiming to balance economic development with energy security. See also Global Trade Faces Contraction Amid Escalating Tariff Disputes Looking forward, ADNOC plans to maintain and potentially increase its procurement spending with domestic suppliers as it pursues ambitious expansion projects, including upstream development, refining capacity enhancements, and the rollout of low-carbon initiatives. These projects will likely demand further investment in local capabilities, particularly in cutting-edge technologies and sustainable practices. Dr Saleh Al Hashmi also pointed to ADNOC's commitment to integrating sustainability criteria into its procurement decisions. This reflects the company's broader environmental, social, and governance goals, which include reducing carbon emissions and promoting diversity and inclusion within its supply chain. The impact of ADNOC's procurement policies extends beyond economic metrics. By anchoring contract awards to local content goals, the company fosters skills transfer, knowledge sharing, and capacity building within the UAE workforce, addressing the nation's strategic need for human capital development. Private sector stakeholders have welcomed ADNOC's contract awards as a positive signal for business confidence and industrial growth. Several suppliers have reported increased investments in technology and workforce expansion to meet ADNOC's stringent requirements and future demand. These developments mark a continuation of ADNOC's role not just as a global energy producer but also as a catalyst for national economic transformation. Its use of procurement as a policy tool to stimulate the local economy exemplifies how state-owned enterprises can contribute to achieving broader government objectives in economic diversification and industrial sustainability.
Daily Tribune
17-05-2025
- Business
- Daily Tribune
Trump caps Gulf tour in Abu Dhabi with dizzying investment pledges
US President Donald Trump yesterday capped his Gulf tour in Abu Dhabi after signing another raft of multi-billion-dollar deals, while also securing a $1.4 trillion investment pledge from the UAE. The eye-watering amounts of money in investments were accompanied also by historic overtures to Syria and renewed optimism over an Iran nuclear deal during the multi-day trip across the Gulf. On his first foreign tour of his second term, Trump oversaw a $200 billion order from Qatar Airways for Boeing jets and a $600 billion investment from Saudi Arabia -- including nearly $142 billion in weapons, which the White House described as the largest-ever arms deal. Trump also expressed optimism over reaching a new agreement with Iran over its nuclear programme, and in a seismic diplomatic shift, decided to lift decades-long sanctions on Syria. UAE President Sheikh Mohamed bin Zayed lauded the strong partnership between the two countries that grew under Trump's leadership when he vowed to invest $1.4 trillion in the US economy over 10 years. The White House said the two countries had also signed business deals worth more than $200 billion including a $60 billion partnership with the Abu Dhabi National Oil Company and a $14.5 billion Etihad Airways order of Boeing planes. It also said both countries inked an AI agreement that will see the UAE invest in US data centres and commit to 'further align their national security regulations with the United States, including strong protections to prevent the diversion of US-origin technology'. 'You're an amazing country. You're a rich country. You can have your choice, but I know you'll never leave my side,' Trump said after the $1.4 trillion announcement late Thursday, addressing the UAE president.
Arabian Post
17-05-2025
- Business
- Arabian Post
UAE to Boost US Energy Investments to $440 Billion
The United Arab Emirates has committed to increasing its energy sector investments in the United States to $440 billion over the next decade, a significant expansion from the current $70 billion. This strategic move was announced by Sultan Al Jaber, chief executive of Abu Dhabi National Oil Company , during a high-profile meeting with US President Donald Trump amid his Gulf tour aimed at fostering major business deals. This ambitious escalation underscores the UAE's commitment to strengthening economic ties with the United States, especially in the energy domain, where both countries hold considerable stakes. The announcement signals not only a substantial inflow of capital from the UAE to US energy ventures but also a reciprocal investment interest by American energy companies in the UAE market, reflecting a deeper collaboration between the two nations' energy sectors. The UAE's decision to nearly sextuple its investment portfolio in the US comes at a time when global energy markets are experiencing shifts driven by technological advancements, evolving policies on climate change, and a gradual transition toward cleaner energy sources. By committing $440 billion by 2035, the UAE positions itself as a major player in shaping the future of energy in one of the world's largest markets. Sultan Al Jaber emphasised that this boost in investment is aligned with both countries' long-term energy strategies. The UAE has been actively diversifying its energy mix, investing in renewables such as solar and nuclear power, while maintaining its leading position in oil and gas production. The increased US investments are expected to fund a wide range of projects including conventional oil and gas infrastructure, liquefied natural gas facilities, and renewable energy developments. American energy firms, responding to this invitation, have expressed growing interest in expanding their footprint within the UAE. The Gulf state's evolving energy landscape, with its focus on innovation and sustainability, presents attractive opportunities for US companies specialising in advanced extraction techniques, energy efficiency, and clean technology. This bilateral investment synergy is expected to foster technology transfer and strengthen supply chains between the two regions. See also Azizi Unveils $20 Billion Milan-Inspired Mega Development in Dubai President Trump's visit to the Gulf has been marked by several landmark agreements involving Saudi Arabia, Qatar, and the UAE. The $440 billion UAE energy investment plan stands out as one of the most significant economic commitments, reflecting the strategic importance of energy cooperation in US-Gulf relations. The UAE's energy investment scale dwarfs previous commitments, illustrating the country's growing confidence in the US market's stability and growth prospects. The deal is set against a backdrop of geopolitical considerations, with the UAE seeking to reinforce alliances and economic partnerships amid regional tensions. Energy cooperation remains a cornerstone of this approach, given the sector's central role in the Gulf economies and global markets. By deepening investments in the US, the UAE aims to hedge against regional uncertainties while securing stable, long-term returns. Analysts point out that the UAE's approach aligns with broader trends in the Gulf's energy diplomacy, which increasingly focuses on leveraging financial power and technological innovation to build global partnerships. This contrasts with earlier eras when oil exports were the primary focus, signalling a shift toward integrated energy ecosystems that include renewables, petrochemicals, and energy services. The scale of the planned investment also reflects confidence in the US energy sector's resilience, particularly in natural gas and LNG markets. The US has emerged as a leading LNG exporter, and the UAE's involvement could support expansion of export infrastructure and market access. Furthermore, investment in renewables aligns with the US administration's goals to modernise the energy grid and increase clean energy production. Within the UAE, this deal enhances ADNOC's global strategy to transform from a conventional oil company into a diversified energy and petrochemical powerhouse. Sultan Al Jaber has championed ADNOC's vision of growth through strategic international partnerships and increased capital mobilisation, making the US investment pledge a key milestone in that vision. The partnership also comes as the UAE pushes forward with its nuclear energy programme, positioning the country as a leader in the region's clean energy transition. Cooperation with US firms could accelerate nuclear technology development, regulatory frameworks, and operational expertise, areas where the US holds significant experience. This expansive investment plan aligns with wider economic diversification goals under the UAE's Vision 2030 and Abu Dhabi Economic Vision 2030, which prioritise sustainable growth beyond hydrocarbons. The emphasis on energy innovation, cross-border investments, and bilateral economic ties demonstrates how energy strategy is interwoven with broader national economic and diplomatic ambitions. Market observers highlight that the UAE's increased US investments may prompt competitive responses from other Gulf states, potentially leading to a wave of energy-sector capital flows into the US. This could reshape regional investment patterns and global energy markets, as Gulf countries seek to assert their influence through financial diplomacy. Despite the optimism surrounding this partnership, challenges remain. Energy markets face volatility due to global economic uncertainties, technological disruptions, and regulatory shifts aimed at addressing climate change. Successful implementation of such a large-scale investment plan will require navigating complex geopolitical risks and evolving market dynamics.
India Today
16-05-2025
- Business
- India Today
They only gave me a drop: Trump's Murban oil moment in UAE sparks online buzz
US President Donald Trump received a highly symbolic gift during his high-profile visit to the United Arab Emirates on Friday: a single drop of Murban crude oil, the UAE's premium-grade petroleum. But in true Trump fashion, the moment turned instantly viral after his tongue-in-cheek a viral video, Sultan Al Jaber, Minister of Industry and Advanced Technology and CEO of the Abu Dhabi National Oil Company, presents Donald Trump with a capsule of Murban, a high-quality, domestically produced crude oil, after concluding his presentation. 'The highest quality oil there is on the planet and they only gave me a drop of itso I'm not thrilled!' Margo Martin (@MargoMartin47) May 16, 2025advertisementWithout hesitation, Trump opens it, turns to the camera, and quips, "This is one drop of oil." 'The highest-quality oil there is on the planet, and they only gave me a drop of it. So, I'm not thrilled," Trump said, flashing a trademark grin. "But it's better than no drop.' Sultan al-Jaber noted that the Gulf Arab states and the United States plan to spend USD 440 billion in the energy sector through 2035. The deal boosts Trump's efforts to secure major business deals on a Gulf viral moment came near the end of Trump's four-day Middle East tour. Murban is a light, sweet crude oil with an API gravity of 40 and low sulfur content, extracted from the prolific Murban Bab Oil Field discovered in 1958. Today, it accounts for roughly 2 million barrels per day, making it ADNOC's largest crude visit to the UAE on Friday concludes his four-day Middle East tour, overshadowed by controversy surrounding a USD 400 million jet from Qatar that he is set to receive. The Boeing aircraft, after presidential modifications, will serve as Air Force One before eventually being placed in his museum.
