LONDON: Abu Dhabi’s national oil company is eyeing overseas expansion as part of a new strategy designed to diversify state assets and boost its status in global markets.
Adnoc chief executive Sultan Al-Jaber said the group is looking at opportunities in the downstream business with a view to gaining long-term access to major markets for the emirate’s rich supply of crude and other products, the Financial Times reported.
“This refreshed downstream approach will reshape Adnoc into a focused global company, with an adaptable product portfolio for shareholders and the broader UAE economy,” Al-Jaber told the newspaper.
The company is also investing in upstream development with plans to raise oil production capacity to 3.5 million barrels a day by 2018.
The Abu Dhabi government has approved a 44 billion dirhams ($109 billion) investment plan to support overseas and domestic expansion, which follows a major shakeup at Adnoc as it looks to improve efficiency, boost international partnerships and expand opportunities for local businesses.
The new partnership model also includes the part-privatization of some areas of the company, which launched an initial public offering of its fuel distribution business that could raise up to $2 billion.
Adnoc explores overseas expansion in downstream business
Adnoc explores overseas expansion in downstream business
UAE thwarts terrorist cyberattacks targeting vital sectors
DUBAI: The UAE successfully prevented terrorist cyberattacks that targeted the country’s digital infrastructure and vital sectors, in an attempt to destabilize the nation and disrupt essential services, state news agency WAM reported.
The UAE Cybersecurity Council said the attacks included attempts to infiltrate networks, deploy ransomware, and conduct systematic phishing campaigns targeting national platforms.
It also involved the exploitation of artificial intelligence technologies to develop sophisticated offensive tools, reflecting a qualitative shift in the methods employed by terrorist groups and their ability to harness modern technologies to carry out digital attacks, WAM reported.
The Council reiterated the country’s national cybersecurity defense system makes sure that the safety of individuals, the protection of personal data and the continuity of critical services remain top priorities.
It further urged the public to report any cyber threats or suspicious attempts to ensure digital security in the country.
