In an exclusive interview with CNBC, Dr. Sultan Ahmed Al Jaber, CEO of The Abu Dhabi National Oil Company (ADNOC), discusses the company’s ambitious multibillion dollar downstream growth plan and its strategic approach to value maximization in the ever-evolving energy landscape.

Expanding Portfolio through Strategic Partnerships

Dr. Al Jaber emphasizes that ADNOC’s expansion into the downstream sector is a natural extension of the company’s engagement in the oil and gas industry. The plan involves smart investments centered around ADNOC’s core competency in establishing long-term strategic partnerships. By moving downstream, ADNOC aims to maximize the value derived from each barrel produced, contributing to the diversification of the UAE’s economy.

International Growth Strategy

The CEO highlights that ADNOC is looking for growth opportunities both internationally and in the UAE. By focusing on the downstream market, especially in Asia, the company envisions significant growth potential for refining and petrochemicals in the coming years.

Navigating Geopolitical Headwinds

Despite geopolitical uncertainties and concerns about oil prices, Dr. Al Jaber underscores ADNOC’s resilience and flexibility as an organization. The company’s focus on efficiency, enhanced margins, and commerciality across its business ensures its ability to maneuver through different market dynamics.

Price and Value Maximization

ADNOC aims for the highest possible oil price to generate more revenue streams and seize bigger opportunities in the upstream sector. By investing in downstream activities, ADNOC strives to stretch the value from each barrel produced, thereby benefiting shareholders and supporting future investments.

Future Outlook

ADNOC remains committed to seeking opportunities in upstream, midstream, and downstream sectors, always focusing on value maximization for its shareholders. The company’s determination to invest in the downstream is aligned with its mission to optimize value from every aspect of its operations.