Abu Dhabi CP commends Adnoc for integrating AI across its operations - GulfToday

Abu Dhabi CP commends Adnoc for integrating AI across its operations


Sheikh Khaled chairs a meeting of Executive Committee of Adnoc Board of Directors. WAM

His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has chaired a meeting of the Executive Committee of the Adnoc Board of Directors.

During the meeting at Adnoc’s headquarters, Sheikh Khaled reviewed the progress of strategic initiatives across Adnoc’s portfolio as it continues to transform, decarbonise and future-proof its business and support the delivery of a just, orderly and equitable energy transition.

He commended Adnoc for integrating artificial intelligence (AI) across its operations and endorsed plans for the company to further accelerate the adoption of AI to enhance safety, reduce emissions and maximise value and efficiency.

Adnoc has pioneered the development and deployment of several industry-leading AI solutions to guide decision-making and optimise operations as part of its digital transformation over the past few years. These solutions include the company’s Panorama Digital Command Centre and Thamama Centre of Excellence, which have unlocked billions of dollars in value by integrating and leveraging AI across Adnoc’s value chain since its inception.

Other members attending the meeting included Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Ahmed Ali Al Sayegh, Minister of State; Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company; and Jassem Mohammed Buatabah Al Zaabi, Chairman of the Abu Dhabi Department of Finance.

Meanwhile, Adnoc has announced that it has formally closed the acquisition of a 24.9% shareholding in OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company (Mubadala). The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor. Financial details were not disclosed.

Following the successful completion of the transaction, Adnoc owns 24.9% of OMV, while Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, holds 31.5%, with the remaining share capital in free float. Through this strategic investment in OMV, Adnoc has increased its shareholdings in both Borealis AG (Borealis) and Borouge plc (Borouge), further bolstering its footprint in the chemicals sector, enabling synergies and unlocking significant growth opportunities across its broader chemicals portfolio, in particular at Borouge.

Adnoc intends to nominate two representatives to the OMV Supervisory Board in due course, in line with OMV’s governance processes.

Commenting on the successful closing, Khaled Salmeen, Executive Director, Downstream Industry, Marketing & Trading at Adnoc said: “Adnoc is proud to become a shareholder in OMV, a leading international energy and chemicals company, with whom we share a long-standing strategic partnership. Together, we have created significant value through our joint venture Borouge, and today’s investment will unlock further value and future growth opportunities for both companies. Building on our 25% shareholding in Borealis, this transaction marks the next transformative step as we accelerate our ambitious chemicals growth strategy, unlocking significant growth and value creation opportunities for Adnoc, OMV and their respective shareholders.”

This transaction represents the latest milestone in Adnoc’s ongoing value creation and international growth journey. Further cementing the strong ties between the United Arab Emirates (UAE) and Austria, the transaction reinforces Adnoc’s role as a primary catalyst for responsible, sustainable investment and value creation for Abu Dhabi, the UAE and its shareholders and partners.

Adnoc and OMV also continue to be engaged in open-ended negotiations about the potential creation of a new combined petrochemicals holding entity, through the proposed merger of their respective existing shareholdings in Borouge and Borealis.

Adnoc is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. Adnoc’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae

Adnoc Distribution, the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), will today hold an Investor Day, providing the market with an update on the Company’s achievements and strategic growth initiatives. The Company, which successfully delivered on its previous commitment of reaching $1 billion in earnings before interest, tax, depreciation and amortization (EBITDA) in 2023, will deliver further EBITDA growth in the 2024-2028 period, while it positions itself as a multi-energy, convenience and mobility leader. Adnoc Distribution is scaling up its portfolio of low-carbon energy solutions including biofuels, EV and hydrogen to support de-carbonization of the transport industry and expanding its non-fuel retail offerings.

Eng. Bader Saeed Al Lamki, CEO of Adnoc Distribution, said: “Adnoc Distribution has demonstrated a robust track record of value creation through its smart growth strategy, pursuing new opportunities in domestic as well as international markets. Since its market debut in late 2017, the Company has delivered robust financial performance and doubled shareholder value. 2023 was a transformative year for ADNOC Distribution, with the Company generating EBITDA of over $1 billion, an increase of 33% compared to 2018. The company is well positioned to take advantage of evolving energy markets and enter a new phase of growth. We remain committed to a disciplined capital allocation and delivering attractive and visible shareholder returns.”




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