Abu Dhabi National Oil Company For Distribution

ADNOC Distribution has released its Growth and Transformation Environmental, Social, and Governance (ESG) Report for 2023.

ADNOC Distribution has released its 2023 report on growth, transformation, and Environmental, Social, and Governance (ESG) initiatives.

The Board of Directors of ADNOC Distribution has approved a circular resolution on 01 July 2024 at 3:00 p.m. to appoint the board of Abu Dhabi Global Company LLC, a wholly-owned subsidiary of ADNOC Distribution, for a three-year term. The appointed members are Eng. Bader Saeed Allamki as director and chairman, Mr. Saeed Nasser Al Ahbabi as director, and Mr. Wayne Beifus as director.

The Market Operations Surveillance Department of the Abu Dhabi Securities Exchange has issued a notification regarding the Board of Directors of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution). A circular resolution will be distributed to the Board at 3:00 pm on July 1, 2024, to consider and review subsidiary board appointments. The notification is signed by Ben Hennessy, Board Secretary, and a copy has been sent to the Securities and Commodities Authority.

ADNOC Distribution reported a robust Q1 2024 growth with an 18% increase in EBITDA to $248 million and a net profit rise to $150 million. The company saw a 17% increase in fuel volumes and a 7% rise in non-fuel retail transactions. It also leveraged AI-driven digital innovation to enhance efficiency and drive value, including predictive fuel demand models and expanding its network of EV charging points. The company's CEO, Eng. Bader Saeed Al Lamki, stated that the results reflect the company's five-year strategy which prioritizes domestic growth, international platforms, and future-proofing the business. The company aims to expand its network to 1,000 stations, increase the number of fast and super-fast EV charging points to at least 500, grow non-fuel transactions by 50%, and increase the number of convenience stores by 25% by 2028.

The text discusses the first quarter 2024 results of ADNOC, highlighting that there has been an increase in underlying profitability. This growth has been driven by a higher fuel volume and optimization of operational expenses (opex). The management discussion and analysis report was released on 9th May 2024.

The text refers to a review report and interim financial information for the three-month period ending 31 March 2024, classified by ADNOC as "need-to-know". The platform is likely used by individuals interested in finance and investing.

The Board of Directors of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution) held a meeting on May 8, 2024, where they approved the company's financial statements for the first quarter ended March 31, 2024, and discussed other general business matters. The meeting took place at 3:00 p.m. in Abu Dhabi. The Securities and Commodities Authority was also notified.

The Board of Directors of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will hold a meeting on 8th May 2024 at 3:00 p.m. in Abu Dhabi. The agenda for the meeting will include reviewing the Company’s financial statements for the first quarter ended 31st March 2024 and discussing other general business matters.