Abu Dhabi’s ADNOC, Exxon Mobil CEOs ‘discuss prospects of long-term partnership’ between the two firms

Dr. Sultan Al-Jaber, CEO of ADNOC (R) with Darren Woods, CEO of Exxon Mobil at the Bloomberg World Forum. (Twitter: @AdnocGroup)
Updated 06 November 2018

Abu Dhabi’s ADNOC, Exxon Mobil CEOs ‘discuss prospects of long-term partnership’ between the two firms

  • Two met at Bloomberg World Forum in Singapore
  • ADNOC also announced on Monday plans to launch new integrated gas strategy and increase oil production

SINGAPORE: The chief executive of Abu Dhabi National Oil Company (ADNOC) met with Darren Woods, the CEO of Exxon Mobil on the sidelines of the Bloomberg World Forum in Singapore on Monday.
According to a tweet on ADNOC’s official Twitter page, the two discussed “prospect of long-term partnership" between the two companies.

ADNOC also announced on Monday its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil and gas industry in Abu Dhabi.

The company also announced capital investment growth of $132.33 billion between 2019-2023 and new discoveries of 1 billion barrels of oil.


China delays timetable for Boeing 737 MAX return

Updated 14 min 22 sec ago

China delays timetable for Boeing 737 MAX return

  • The best-selling 737 MAX was grounded around the world since March 2019 after two deadly crashes blamed on the plane's new navigation system 

BEIJING: China, the first country to ground Boeing Co’s 737 MAX following two fatal crashes, has not set a timetable for the plane’s return to service, the head of its aviation regulator said on Thursday.

The Civil Aviation Administration of China has set three principles for the jet to return to service in China, Feng Zhenglin, director at the agency, said.

Design changes need to be certified, pilots need to receive proper training and effective improvements need to be made to address the specific findings of investigations into the crashes, Feng said.

“Based on these three principles, we have not set a timetable for Boeing 737 MAX’s return to service here. As long as these conditions are met, we’re happy to see the MAX return to service in China,” said Feng.

“But if these conditions cannot be met, we still have to carry out strict airworthiness certification in order to ensure safety.”

The 737 MAX, which has been grounded around the world since March 2019, is expected receive regulatory approval from the European Union Aviation Safety Agency to resume flying in November.

The US Federal Aviation Authority (FAA) has not publicly disclosed a timeline for the MAX’s return of service, but sources familiar with the matter have said it is expected to lift its grounding order around mid-November, although the date could slip.

American Airlines has said that it plans to return the jet to service at the year-end, subject to FAA approval.