• Latest
  • Trending
ADNOC to strengthen African, European energy trade operations 

ADNOC to strengthen African, European energy trade operations 

September 18, 2023
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

September 5, 2025
Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

September 5, 2025
Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

September 5, 2025
Paratus Group introduces first private mobile network using LTE and 5G in Namibia

Paratus Group introduces first private mobile network using LTE and 5G in Namibia

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

ADNOC to strengthen African, European energy trade operations 

Ibukunoluwa Bankole by Ibukunoluwa Bankole
September 18, 2023
149 1
0
ADNOC to strengthen African, European energy trade operations 
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Abu Dhabi National Oil Company (ADNOC) is charting a course to amplify its energy trading operations, with a strategic focus on Africa and Europe. 

This expansion initiative is fueled by the evolving energy supply dynamics in Europe and the promising opportunities emerging in the African energy market.

Europe’s dynamic energy landscape, notably its decreasing reliance on Russian energy supplies, has stirred ADNOC’s interest in exploring opportunities within the region.

Read also: Firms team up to reduce carbon emissions, enhance energy resilience in SA 

RelatedPosts

No Content Available

Diverse Energy Portfolio for ADNOC

At the forefront of this expansion is ADNOC Trading, a wholly-owned subsidiary of ADNOC Group, established in 2020 with a mission to fill the energy void left by Russia’s shifting energy dynamics. 

The prominent energy giant headquartered in the United Arab Emirates (UAE), is actively seeking long-term contracts for the delivery of liquefied natural gas (LNG), crude oil, and refined fuels. Sources have revealed that ADNOC intends to secure two to three long-term LNG supply deals in the upcoming year, in addition to several independent agreements. The central focus of this endeavor will be the burgeoning LNG trade.

Global Expansion Strategy

This move into energy trading aligns seamlessly with ADNOC’s overarching strategy to extend its global footprint. Recent discussions with Germany’s Covestro regarding a potential €11.6 billion ($12.46 billion) takeover underscore ADNOC’s resolve to foster growth through strategic acquisitions.

While ADNOC had previously considered the acquisition of the Gunvor Group, a major trading company, this strategy did not materialize. Consequently, the government-backed oil and gas giant is now honing its focus on building its trade business organically from within.

ADNOC Trading has charted an ambitious expansion plan, including the opening of its maiden European office in Geneva by the close of 2024. Furthermore, the company is poised to establish an office in Houston in 2025. It’s noteworthy that ADNOC Trading already operates a specialized branch in Singapore, primarily focused on trading chemicals.

The significant crude oil producer has over time diversified its crude oil sources. In addition to its extensive domestic production, ADNOC has strategically procured oil from countries as diverse as Norway, Australia, Angola, Yemen, and Nigeria. The company has also successfully handled shipments of Russian and Kazakh crude oil at Ruwais, an oil refinery situated on the Persian Gulf.

ADNOC’s strategic vision extends to the establishment of crucial partnerships across Africa and Central Asia. The company is determined to leverage its well-established relationships with local governments, financial sectors, and the rich tapestry of cultural and religious ties to reinforce its presence in these pivotal regions.

African families turn to solar energy as governments’ electricity supply dwindles

Recent Success in Africa

Earlier this year, ADNOC made significant strides in Africa by securing a portion of a state fuel supply tender in Kenya. This milestone serves as a testament to ADNOC’s unwavering commitment to expanding its footprint in Africa and harnessing the vast potential inherent in the continent’s rapidly evolving energy market.

In 2021, ADNOC Distribution announced signing of two deals for distributing its Voyager lubricant in Angola and the Democratic Republic of the Congo. These agreements were part of ADNOC Distribution’s plans to expand internationally.

Later on in 2022, ADNOC and Emirates National Oil Company (ENOC)  won bids to supply petroleum products to Kenya. The payments was deferred for a minimum of 180 days to remove the need for importers to spend hundreds of millions of dollars per month.

Expected to start importing between April and May 2023, the firms will nominate local oil marketers to oversee the importation and revenue collection, which will be paid following the expiry of the six-month credit period.

With these far-reaching and visionary plans, ADNOC is positioning itself as a dominant player in the continually evolving global energy trading landscape. By astutely capitalizing on shifting energy dynamics and emerging opportunities in Africa and Europe, ADNOC is poised to cement its leadership in the global energy sector, shaping the future of energy trading worldwide.

Tags: ADNOCenergy trade operations
Ibukunoluwa Bankole

Ibukunoluwa Bankole

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.