ADNOC announces new downstream industry marketing & trading directorate
Abu Dhabi National Oil Company (ADNOC) has created a new Downstream Industry, Marketing & Trading Directorate, effective January 17, 2021, that integrates the company’s existing Downstream & Industry Directorate and Marketing, Supply & Trading Directorate. Mr. Khaled Salmeen, who previously held the role of Executive Director Marketing, Supply and Trading, will lead the new Directorate.
This strategic organizational change, the latest in ADNOC’s transformation journey, will enable greater value chain optimization across ADNOC’s Downstream and Trading operations, improving performance, profitability and efficiency. The new Downstream Industry, Marketing & Trading Directorate introduces a more integrated operating model that will help ADNOC provide a better service to its customers, while expanding it’s downstream operations, cataylizing the UAE’s industrial and post-covid economic growth, and further advancing its focus on In-Country Value.
As a central and integrated unit, the new Directorate will deliver a more aligned and coordinated effort between customer and market demand and product supply. It will enable a more agile response to market dynamics and customer needs, while supporting ADNOC’s goal to drive synergies and maximize value from every barrel and molecule that the company produces, refines, ships and sells.
As ADNOC delivers on its 2030 smart growth strategy and its ambitious Downstream expansion plans, the new Directorate will be a critical enabler of the company’s goal to responsibly deliver the energy and energy products that the world needs, particularly in its core Asian market, where demand for refined and petrochemical products are set to grow over the next ten years. The Directorate will also drive ADNOC’s activities to catalyze the UAE’s industrial development and economic diversification, overseeing the development of TA’ZIZ and the Ruwais Derivatives Park. This will strengthen the UAE’s position as a globally competitive chemicals hub and destination for foreign direct investment.
The Directorate will also lead ADNOC activities to capitalize on the emerging global market for hydrogen, building on the company’s existing position as a major producer with existing infrastructure, partnerships and customer relationships.
The new Directorate will govern ADNOC’s interests across its refining, gas processing, petrochemicals, product sales, shipping and integrated logistics and trading portfolio.
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