Abu Dhabi National Oil Company (Adnoc) has unveiled a new corporate brand, in the latest move by the new leadership to underline a changing ethos at the state oil company.
“Adnoc must evolve into a more agile organisation to maintain its competitive edge in today’s global economy,” said Sultan Al Jaber, the Minister of State, who took over as Adnoc’s chief executive in February, at a ceremony yesterday to announce the new branding.
“This will ensure Adnoc remains a core contributor to the UAE’s progress, future development and long-standing efforts to diversify the economy,” Mr Al Jaber said. The new brand is part of Adnoc management’s efforts to make sure the company is “aligned with a new strategic focus to ensure that it continues to be a competitive organisation that is fit for the future”, the company said.
Since taking over, Mr Al Jaber has established a new corporate structure and approach, as well as promoting a new generation of leaders at the corporate level and at its key operating units.
As Mr Al Jaber has said, the objective is to streamline the bureaucracy and introduce a more commercial-minded cadre to improve efficiency and profitability, while also driving home for Adnoc’s 50,000 employees – especially Emiratis – that Adnoc is a place that will foster and promote talent.
“Every decision we take has to serve the ultimate goal of maximising shareholder value,” said Mr Al Jaber. “We have taken significant steps to ensure Adnoc enhances its commerciality by becoming more efficient and doing more with less.”
Adnoc did not provide any information about the branding exercise or which company has been employed to undertake the redesign.
It keeps a relatively low profile internationally and does not sponsor a major football team, Formula One racing or any of the traditional corporate sponsorships favoured by international oil companies.
Adnoc has a high profile domestically, however, as the monopoly petrol retailer and forecourt operator in Abu Dhabi as well as one of the country’s largest employers.
Adnoc’s non-core operations include the Petroleum Institute, where earlier this year a US$90 million research facility was opened, as well as Adnoc Schools and Adnoc Medical.
“Nurturing and developing the talent within Adnoc is a fundamental building block of the company’s future growth,” Mr Al Jaber said. “Adnoc will promote the best and the brightest employees to develop the next generation of leaders.”
amcauley@thenational.ae
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