Page 16 - DMEA Week 07 2021

DMEA NEWS IN BRIEF DMEA

Mubadala Petroleum Defense College in Abu Dhabi.. and widen its customer base.”
The expansion of ADNOC’s product
appoints CEO range is also part of its broader downstream
2030 Smart Growth Strategy. The strategy
Mubadala Petroleum today announced that Saudi Yansab resumes capitalizes on Abu Dhabi’s proximity
Mansoor Mohamed Al Hamed has been operations at olefins plant to global growth markets, access to
appointed Chief Executive Officer of the competitive feedstock, and its attractive
international oil and gas exploration and Yanbu National Petrochemical Company fiscal and regulatory environment. Since
production company, which is a wholly- (Yansab) announced resuming operations at launching the strategy in 2018, ADNOC
owned subsidiary of Mubadala Investment its Olefins Plant on 15 February 2021 after has attracted significant foreign investment
Co. completing the scheduled maintenance. into Ruwais and expanded downstream
Al Hamed succeeds Dr. Bakheet Al Maintenance work for the Ethylene Glycol partnerships across its refining, fertilizer,
Katheeri, who was recently appointed to plant is still ongoing and is expected to and pipeline assets. This strategy is
an executive leadership position in the complete by the next week as was previously transforming Ruwais into a world-class
newly formed UAE Investments platform of announced, according to a bourse filing on and globally competitive chemicals cluster,
Mubadala. In this new role Dr Al Katheeri February 15. stimulating private sector activity and long-
will be responsible for overseeing the Previously, the Tadawul-listed firm term specialised employment opportunities,
strategic development of a diverse portfolio estimated the financial impact of this particularly for those from the Al Dhafra
of industrial UAE-based assets, including maintenance based on average prices at SAR region.
Mubadala Petroleum. 90 million, to be reduced by optimising the ADNOC Refining produces more than
Al Hamed previously held the position available inventory. 40 million metric tons of high-quality
of Chief Growth Officer, responsible for all The financial impact will reflect during refined products to markets around the
new business development and Mergers the first and second quarters of 2021. world. It has the capacity to refine more
& Acquisitions activities. He brings with than 922,000 barrels of crude oil and
him over 15 years of diverse experience in condensate per day into various products,
the oil and gas industry and across various ADNOC captures more including liquefied petroleum gas, naphtha,
disciplines of business leadership. gasoline, jet fuel, diesel, base oil, and
Musabbeh Al Kaabi, Chief Executive value through product petrochemical feedstock; such as propylene.
Officer of UAE Investments at Mubadala It also produces specialty products such as
Investment Company and Chairman diversification carbon black and calcined coke.
of Mubadala Petroleum, commented: Since 2019 ADNOC Refining has been
“Mubadala Petroleum has demonstrated ADNOC announced that it has added run as a joint venture company between
incredible resilience in the face of white spirit and solvents to its refined ADNOC and the European energy firms
challenging market conditions and products portfolio. This allows ADNOC Eni and OMV.
experienced sustained growth over the years. to capture more value from Abu Dhabi’s
Throughout his tenure, Mansoor has been natural resources, producing products
integral to driving the company’s growth and that can be used by domestic industry Egyptian petchems
central to its international expansion over to promote In-Country manufacturing,
the years. In his new role, and alongside the while also expanding its market reach producer SIDPEC selects
leadership team at Mubadala Petroleum, he internationally.
will provide the continuity and focus needed White Spirit & Solvents are produced Honeywell solution to
to take the organization forward amidst an by ADNOC Refining in Ruwais. These
evolving global energy landscape and the specialty products have various industrial upgrade production
ongoing energy transition.” and household applications and are used
Al Hamed commented on his to produce products such as varnish, capabilities
appointment: “It is a great privilege to adhesives, inks, paint thinners and
have been entrusted with the leadership of cleaning agents. Sidi Kerir Petrochemicals Co. (SIDPEC), a
Mubadala Petroleum. Having been with In our refineries, we continue to focus leading petrochemicals producer in Egypt,
the company for over a decade, I have seen on stretching the margin from every has selected Honeywell Process Solutions
firsthand how our combination of deep barrel of oil that we process. I am proud technology to upgrade the production
technical and operational excellence together of our teams who responded swiftly and capabilities of its flagship petrochemical
with strategic acumen and enduring industry efficiently to market dynamics, expanding complex in Alexandria, which produces
partnerships, has enabled the business to and diversifying our product range and ethylene and polyethylene for the domestic
chart a successful path forward. Our efforts unlocking value from our operations and Egyptian market. The upgrade is part of
in recent years to drive operational and cost resources. These products will enable an expansion of the facility to incorporate
efficiencies have had a substantial impact and ADNOC to extend its reach to new markets propylene and polypropylene production
ensured we have a platform for growth.” and widen its customer base.Abdulla Ateya and increase the supply of petrochemical
Before joining Mubadala Petroleum Al Messabi, CEO of ADNOC Refining, products to domestic and international
in 2010, Al Hamed worked in a highly said: “In our refineries, we continue to customers. The upgrade was achieved
diversified private sector business based focus on stretching the margin from every in just 10 days, allowing SIDPEC to get
in the UAE, gaining experience across barrel of oil that we process. I am proud back to production as quickly as possible,
commercial and managerial roles held in of our teams who responded swiftly and Honeywell said in a press release.
various business sectors. efficiently to market dynamics, expanding Egypt is the top consumer of
Al Hamed holds a BSc degree in Business and diversifying our product range and polypropylene in Africa, consuming about
Administration from the American unlocking value from our operations and 4.4 kg of polypropylene per capita. Rapid
University in Dubai and two MSc degrees resources. These products will enable population growth and urbanisation will
from Abu Dhabi University and National ADNOC to extend its reach to new markets see this number grow by 5% annually

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