Tuesday 23 July 2024

Mubadala’s oil investments top $40 billion

ABU DHABI, November 12, 2018

The petroleum and petrochemicals platform of Mubadala Investment Company accounts for Dh150 billion ($40.8 billion) of the company’s Dh800 billion portfolio, said Musabbeh Al Kaabi, CEO of Petroleum & Petrochemicals.

Al Kaabi was speaking to the Emirates News Agency (Wam) in an interview on the occasion of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec 2018), which runs from November 12 to 15 under the patronage of President Sheikh Khalifa bin Zayed Al Nahyan.

Al Kaabi said that the Petroleum & Petrochemicals platform has a balanced portfolio of integrated projects and companies, whose activities cover the various stages of the total supply chain of the oil, gas, refining and petrochemical industries.

He also highlighted that the company's diverse investments and projects cover over 40 countries in five continents, offering unique opportunities for growth and flexibility and allowing the company to adapt to the challenges facing the global energy sector.

Al Kaabi spoke about the sector’s awareness of the changing nature of its business cycle, saying it is working to reinforce its investments by considering various pricing scenarios for commodities and hydrocarbons.

He highlighted the importance of ensuring cooperation and coordination with relevant authorities in the global energy industry, as well as improving readiness to tackle challenges through holding global events, such as Adipec.

Al Kaabi added that Abu Dhabi has been playing a key role in the global energy market for 60 years, and the Abu Dhabi Government established the company to promote a balanced system, and economic diversity in the emirate and the entire country, through investing in global economic sectors that are strategically important to the local economy.

Mubadala is a pioneering global investor, deploying capital with integrity and ingenuity to accelerate economic growth for the long-term benefit of Abu Dhabi. Company's work includes the development of global industrial champions in sectors such as aerospace, ICT, semiconductors, metals & mining, renewable energy and utilities, and the management of diverse financial holdings.

It builds on legacy expertise in oil and gas to invest across the hydrocarbon spectrum, and enhance the UAE’s growth potential through investments in healthcare, real estate and defense services. Its investment approach prioritises partnership with best-in-class organisations and a commitment to the highest standards of governance.

Mubadala’s upstream operation focuses on finding and extracting oil and gas in locations across the globe. The process includes securing exploration rights in promising areas and identifying specific prospects for exploration drilling. Successful identification of commercial deposits leads to project development and eventually production. Its portfolio of world-class international companies comprises of integrated assets covering multiple sectors, or the entire value chain, and a wealth of expertise across various disciplines.


Tags: Mubadala | adipec | oil investment |

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