Today, Thursday, March 23 (2023), the Emirates National Oil Company (ENOC) revealed a 5-pronged strategy to raise the group to the forefront of providing the best global solutions in the sustainable and integrated energy sector.
The company’s long-term strategy for growth, in order to meet the growing demand for reliable, safe and sustainable energy locally and globally, comes after the group recorded in 2022 the best performance in its history of growth spanning 3 decades.
The Emirati ENOC confirmed that the implementation of the strategy will focus on operational efficiencies, cooperation, application of its digital technologies, and provision of a unified experience across the private value chain in the energy sector.
The Emirates National Oil Company Group was established in 1993 through full ownership of the Dubai government, and has so far succeeded in establishing 30 subsidiaries operating in the refining, blending, storage, aviation and retail sectors.
5 axes
ENOC, which recorded a 60% increase in EBITDA compared to 2021, is working under the “Proactive Development” pillar to enhance efficiencies in its various processes and procedures to transform its operations and reduce costs.
The Group also aims, under the “Asset Development” pillar, to develop its comprehensive capabilities in a manner that achieves sustainable profitability, from its refineries to its terminals and retail stores, in order to enhance the value generated in all its operations.
Under the ‘customer first’ pillar, ENOC will drive further initiatives to serve customers and expand the retail business by reinforcing the group’s commitment to innovation and providing customers with an experience that lives up to their aspirations.
The Value Chain Integration and Growth pillar will pave the way for collaboration opportunities to work as a team across the entire value chain to balance supply and demand, improve asset-backed trading, and launch transformative projects.
The fifth pillar, called “Diversified Energy Solutions”, will contribute to achieving the UAE’s sustainable vision of ENOC to keep pace with the demand for clean energy in the future.
Energy shift
The UAE’s ENOC seeks to establish itself as a major player in the new energy economy, invest in technologies to transform the energy sector, in line with the UAE’s strategic initiative to achieve carbon neutrality by 2050, and develop innovative solutions for energy and mobility in cooperation with partners with similar orientations.
In this context, Saif Humaid Al Falasi, CEO of ENOC Group, said: “2022 was a successful year, in which the group achieved very important achievements in production capacity, financial excellence and growth in general.”
He pointed out that the company recorded during 2022 qualitative leaps in achieving its ambitions in terms of sustainability, as well as continuing its digital transformation path, which leads innovation and works to meet customer requirements amid a scene of rapid technological changes.
He added, “Our practical objectives, integrated within the framework of the five strategic pillars, embody the strategic direction adopted by the UAE ENOC in its new phase of growth.”
sustainable business
Al-Falasi stressed that the numerous awards that the group received during the year 2022 in recognition of its efforts in innovation, sustainability and digital capabilities, is a testament to its endeavors in developing the sustainable value of the energy sector.
Al-Falasi had confirmed – in a previous dialogue with the energy platform – that his group is making great efforts to contribute to achieving the goals of the Emirate of Dubai, aimed at encouraging the use of clean energy and alternative fuels and diversifying the energy mix, pointing to the launch of a number of important initiatives, including bio-diesel. 5″ in the UAE market, which is a clean fuel produced from vegetable oils and cooking oil, as this fuel is derived from renewable resources to reduce domestic consumption of fossil fuels and contribute to environmental protection and sustainability.
ENOC won the Golden Peacock Sustainability Award 2022 for the fifth year in a row, thanks to its integration of sustainable practices into its various operations.
The group also won recognition for its continuous activities in the field of social responsibility, with its subsidiary, Emirates Gas, receiving the Dubai Chamber label for corporate social responsibility for the 11th year in a row.
As part of the group’s efforts to search for innovative solutions to reduce emissions and achieve carbon neutrality, it cooperated with Emirates Airlines in its test flight to secure the aircraft, mix it and provide it with sustainable aviation fuel.
Smart fuel management
ENOC has become the first to implement the latest smart fuel supply management system in the UAE, according to data seen by the specialized energy platform.
The group recorded the automation of more than 1,000 operations in 2022, in partnership with the international company “SABB”, and expanded in the retail trade sector to 186 service stations.
In implementation of the group’s expansion plans, “Tasjeel” opened its tenth center for vehicle testing and registration in Sharjah, and “ENOC Link” opened its first “E-Link” station in Sharjah as well, in addition to opening 4 integrated stations and the first emergency response center in the free zone in Jebel Ali. It announced the completion of the aviation fuel pipeline to Al Maktoum International Airport last year.
The group announced its partnership with TFE Intermediação de Negusius Ltd. to distribute lubricants in Brazil, as its marine lubricants arm, Strata, registered an impressive 350% growth over the past two years.
The group also established the future service station, the first of its kind with a design inspired by the Ghaf tree (the national tree of the United Arab Emirates). It is the first service station to harness renewable energy sources and represents a new era for the future of fuel.
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