Abu Dhabi's oil champion ADNOC bets on global expansion
© Reuters. FILE PHOTO: A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File Photo
The state-owned company also told Reuters it was investing in energy trading, without giving further details. Reuters reported last year that ADNOC was set to open a trading office in Geneva and a representative office in London. The transformation at ADNOC is similar to ongoing changes at state-owned energy giants in Saudi Arabia and Qatar.Now, as the transition to renewable energy accelerates, the timeline is shortening for these so-called national oil companies to monetise their reserves and they are also doubling-down on opportunities further afield.
He reports to Musabbeh Al Kaabi, ADNOC's low carbon solutions and international growth chief, also a new hire who came on board in January. Emirati Al Kaabi also chairs Mubadala Energy and is on the boards of several state-linked firms.
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