Adnoc banking on UAE's youth to strengthen and future-proof its sustainable business model

Abu Dhabi's oil major is committed to developing and providing practical opportunities for young people to build successful careers, says Dr Sultan Al Jaber

Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, and Shamma Al Mazrui, Minister of State for Youth, attend Adnoc's Youth Ramadan Forum. Wam
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The UAE's young people are set to play important roles at Abu Dhabi National Oil Company as it future-proofs its business, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, has said.

Adnoc is committed to continually investing and developing youths, who are the "bedrock" of the UAE’s future and are encouraged to multiply their efforts from "10X to 100X", state news agency Wam reported Dr Al Jaber as saying, referring to the theme of Adnoc's Youth Ramadan Forum.

The company is "committed to developing and providing practical opportunities for them to build successful careers and contribute to the continued progress of the UAE, in line with the leadership’s wise directives", Dr Al Jaber said at the event.

"We are proud that many of our youths are leading key projects and strategic initiatives across our business, and actively contributing to ensuring Adnoc remains a reliable supplier of energy to the world."

Dr Al Jaber said that growth, disruption and future-proofing are three key imperatives that will guide the company’s strategy as it navigates the transition of the energy sector and unpredictable market volatility.

Earlier this month, Dr Al Jaber said the UAE is committed to implementing its strategy of supporting priority industrial sectors and boosting their role in the country’s economic development.

Among Adnoc's key strategic priorities, to which youths will be able to contribute, are the expansion of its crude oil production capacity, growing of its liquefied natural gas segment, decarbonisation efforts, local manufacturing and industrial growth.

Shamma Al Mazrui, Minister of State for Youth, said at the event that Adnoc acknowledges the true meaning of sustainability in the way the company empowers youths and values human capital investment.

"Adnoc's youth-empowerment model carries so many core values. I love the self-efficacy it instils in each and every employee," she said.

"Adnoc continuously provides platforms and programmes for the youth to learn and develop successful careers. This programme is a prime example of how the UAE is working to empower youth and nurture future leaders across all sectors and fields."

Adnoc continues to strengthen its portfolio in the industry. Earlier this month, its logistics and services subsidiary Adnoc L&S signed a shipbuilding contract for the construction of two LNG vessels in China's Jiangnan Shipyard and a five-year deal with AD Ports Group to operate a new unit at Abu Dhabi's Khalifa Industrial Zone.

This week, its Adnoc Drilling subsidiary approved a cash dividend of $325 million, or 7.46 fils per share, for the fiscal year ended on December 31 as its profits rose.

Adnoc Distribution, the UAE’s largest fuel and convenience retailer, announced a second-half dividend payment of $350m, bringing its total dividend paid for the 2021 financial year to Dh2.57 billion.

Updated: April 23, 2022, 3:01 PM
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