ADNOC Group CEO Shares Smart Growth Strategy With Petroleum Industry Media

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Abu Dhabi, UAE – April 19, 2017: H.E. Dr Sultan Ahmed Al Jaber UAE Minister of State, ADNOC Group CEO and Chairman of the UAE’s National Media Council today shared details of ADNOC’s 2030 strategy, which will deliver smart growth, long-term value and profitability, with leading local and regional media. 

H.E. Dr Al Jaber was speaking at the third GCC Petroleum Media Forum, being held in Abu Dhabi under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates Among those attending the conference are H.E Suhail Al Mazrouei, UAE Minister of Energy, a number of GCC energy ministers and Mohammad Sanusi Barkindo, Secretary General of OPEC. 

In his address to the conference, H.E. Dr Al Jaber called on the petroleum industry and the media to build the bridges, trust and understanding necessary to elevate the public’s knowledge of an industry that has a positive impact on every aspect of life and fuels socio-economic progress. 

H.E. Dr Al Jaber said: “In today’s constantly evolving energy landscape, the petroleum industry needs to accurately communicate complex strategies to multiple audiences. 

“But we can only project a compelling narrative, that will enhance public awareness of our industry, through an informed, equipped and empowered media that understands how the different elements of our business fit together and has insights into key global trends affecting supply, demand and growth.”

ADNOC, he said, has adopted a long-term growth strategy aimed at driving efficiency, enhancing performance and unlocking value across its businesses to ensure it is an agile, resilient organization, fit for the future. ADNOC, he added, has set itself the goal of delivering a more profitable upstream business; a more valuable downstream business, and a more sustainable, economic gas supply, while developing world class talent.

As part of its 2030 strategy and five-year business plan, ADNOC is committed to increasing crude capacity output to 3.5 million barrels per day by 2018, and expanding its sour gas production by 50 per cent. Gasoline production will increase to 10.2 mtpa by 2022, with a new gasoline and aromatics project adding 4.2 mtpa of gasoline supply and 1.4 mtpa of aromatics in 2022. Petrochemical production will nearly triple from 4.5 mtpa in 2016 to 11.4 mtpa by 2025.

“A well-informed media can bring this journey to life, through well researched and smart storytelling,” H.E. Dr Al Jaber said. “By working together we can build a healthy relationship, based on transparency and cooperation, where we, in the energy industry, openly inform, educate and provide context to the media, and where media responsibly report facts, cite evidence and offer informed analysis on our industry.”

H.E. Dr Al Jaber called on local and regional media to play a leading role in informing the world about developments in the region’s energy industry. “Just as our region represents the centre of gravity of the energy industry, so should our media be the number one source for global media reporting on the region’s energy markets,” he said.

Urging the energy industry and the media to seek out opportunities to work together, H.E. Dr Al Jaber emphasized the emphasized the importance of accurate, balanced and credible reporting. In this new media landscape, he said, the role of reliable, fact-based, trustworthy journalism has never been more critical and more important.