Khaled bin Mohamed bin Zayed visits ADNOC’s trading office and meets Emirati commodity traders
خالد بن محمد بن زايد يزور مكاتب التداول التابعة لمجموعة أدنوك ويلتقي عدداً من خريجي
ABU DHABI, 1st July, 2024 (WAM) -- H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has visited ADNOC’s trading office at Abu Dhabi Global Market and reviewed the achievements of ADNOC’s trading businesses, ADNOC Global Trading and ADNOC Trading.
His Highness toured the trading floor, where he met Emirati commodity traders who are helping to create additional revenue streams through ADNOC’s expansion into new energy markets. He highlighted the role of ADNOC’s trading businesses in further strengthening Abu Dhabi’s position as a global trading hub while supporting the UAE’s growth into new energies and further diversifying the economy to continue driving sustainable economic development for Abu Dhabi and the UAE.
خالد بن محمد بن زايد يزور مكاتب التداول التابعة لمجموعة أدنوك ويلتقي عدداً من خريجي
Launched in 2020, ADNOC’s trading companies have unlocked sizeable revenue streams for the company. ADNOC has also expanded its trading desks from refined products (such as gasoline, jet fuel, gasoil, and naphtha) and crude oil, to include liquefied petroleum gas (LPG), liquefied natural gas (LNG), biofuels, sulphur and carbon, thereby capturing new market share and supporting the UAE’s growth into new energies.
خالد بن محمد بن زايد يزور مكاتب التداول التابعة لمجموعة أدنوك ويلتقي عدداً من خريجي
His Highness was also briefed on how ADNOC is equipping UAE Nationals with skills and experience in international commodity trading through its Trading Academy. His Highness emphasised the leadership’s ongoing commitment to supporting Emirati youth as the bedrock of the country’s success, and its focus on investing in skills development in key strategic areas as a fundamental pillar of the UAE’s future growth.
AGT and AT employ over 100 Emiratis in the two trading companies, with more currently undertaking training to become traders through the academy. UAE Nationals are responsible for core trading functions, including physical trading, chartering for own flows and 3rd-party volumes, and derivatives trading including hedging.
During the visit, His Highness also endorsed plans to further expand ADNOC’s trading activities to support global energy security and reinforce the UAE’s position as an important player in global energy markets. ADNOC has established active trading offices in Singapore, expanded its trading operations with offices in Europe and plans to extend its operations to the United States (US).
ADNOC’s trading businesses harness the power of artificial intelligence (AI) and technology to manage risk, generate value, and ensure 100 per cent accuracy with every trade placed with counterparties. AGT trades refined products from ADNOC and other sources to the market while AT is focused on the trade of crude oil and LNG and is active on ICE Futures Abu Dhabi (IFAD), an independent futures exchange for the trade of Murban Futures contract derivatives.
Provided by SyndiGate Media Inc. (Syndigate.info).