- Home
- Middle East
- UAE
- Khalid bin Mohamed bin Zayed chairs meeting of ADNOC's BoD Executive Committee
Khalid Bin Mohamed Bin Zayed Chairs Meeting Of ADNOC's BoD Executive Committee
Faizan Hashmi Published October 20, 2021 | 08:15 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 20th Oct, 2021) H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, has chaired a meeting of the Executive Committee of the board of Directors of the Abu Dhabi National Oil Company (ADNOC).
During the meeting, held at ADNOC Headquarters, Sheikh Khalid reviewed ADNOC's plans to support the UAE’s 2050 net-zero emissions target, and endorsed the company’s plans for new energy opportunities.
He also discussed with the Executive Committee ADNOC’s strategy to accelerate the UAE's industrial growth and its leadership in the emerging low-carbon fuel value chains.
Sheikh Khalid and the Executive Committee were briefed on the progress of ADNOC’s In-Country Value (ICV) programme, as it continues to expand and support the UAE’s economic growth. ADNOC has awarded over AED40 billion worth of procurement contracts to date in 2021 across its business, with an In-Country Value (ICV) of 64 percent.
They also reviewed the company’s performance and business plan, as well as ADNOC’s recent milestones including the initial public offering (IPO) of ADNOC Drilling and the intention to float (ITF) of Fertiglobe.
During the meeting, Sheikh Khalid praised ADNOC’s performance and recent achievements and expressed confidence that the company is well positioned to continue to create long-term value in driving Abu Dhabi and the UAE’s economic ambitions over the next 50 years.
Over the course of the year, the Executive Committee meets to review ADNOC’s progress against its strategic and financial targets as well as its operational performance. As part of ADNOC’s 2030 strategy, the company is working to remain one of the lowest-cost producers and lowest carbon emitters in the oil and gas industry as it increases its crude oil production capacity, enables gas self-sufficiency for the UAE, expands its downstream business, and strengthens its trading capabilities.
ADNOC’s downstream expansion is helping to drive the UAE’s industrial growth and attract domestic and international partners to accelerate the development of Abu Dhabi’s petrochemicals and derivatives industry, through TA’ZIZ, ADNOC’s joint venture with ADQ. ADNOC is also developing its blue hydrogen and ammonia business as it grows its manufacturing base in Ruwais.
Other members who attended the meeting included Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC; Ahmed Ali Al Sayegh, Minister of State; Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company; and Jassem Al Zaabi, Chairman of the Abu Dhabi Department of Finance.
Recent Stories
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago