Today's Edition
ABU DHABI (WAM)
ADNOC Trading and ADNOC Global Trading executed over 850,000 buy and sell transactions for various traded products since the beginning of 2024.
Ahmad bin Thalith, Chief Executive Officer of ADNOC Global Trading, noted during a media briefing held today to introduce the ADNOC Trading Academy, that the two companies now execute daily volumes surpassing ADNOC’s annual trading activity before their establishment in 2020.
He highlighted that the company has expanded its global market presence, engaging with over 80 countries compared to just 30 prior to the companies' formation, and dealing with over 280 companies, up from 50 previously.
He emphasised the significant value ADNOC Trading and ADNOC Global Trading have added to ADNOC’s trading and marketing operations, boosting production processes. He also noted that by the end of 2023, the companies generated returns on investment that were 17 times higher than their establishment costs.
The CEO added that ADNOC Global Trading has seen steady growth, solidifying its position in the energy market, particularly in key markets like Singapore, with plans to expand operations into Europe and the United States.
Regarding the ADNOC Trading Academy, bin Thalith stated that the academy has been instrumental in ADNOC’s trading success, having trained 38 Emiratis who are now involved in global trading operations and various roles within ADNOC Global Trading and ADNOC Trading.
He explained that the ADNOC Trading Academy aims to train Emiratis in international trading through an intensive two-year programme covering mentorship, hands-on skills, market simulations, and real-time analysis to ensure they are well-prepared for global market demands.
The academy currently has over 80 employees set to graduate and join ADNOC Global Trading and ADNOC Trading, with plans to increase this number to empower more Emirati talent in trading.
The CEO of ADNOC Global Trading also underlined the academy's key role in empowering national talent and enhancing localisation efforts, noting that the two companies currently have a workforce of 400 employees, with a localisation rate exceeding 38 percent.
