Independent traders bring agility to global markets

UAE

Ahmad Bin Thalith, CEO of ADNOC Global Trading, talks to The Energy Year about expanding in the world’s top energy trading hubs and the ongoing success of the ADNOC Trading Academy. ADNOC Global Trading is a joint venture between ADNOC, Eni and OMV that trades refined oil products, biofuels and third-party crude feedstocks.

This interview is featured in The Energy Year UAE 2025

What have been the key achievements of ADNOC Global Trading in 2024?
2024 was a milestone year for both ADNOC Global Trading and ADNOC Trading, which focuses more on crude oil and LNG. Our success is a testament to our agility and market presence, with our traded products being transported to Europe, Latin America, Africa and Asia. Looking ahead to 2025 and beyond, we are scaling up our activities in Europe with a new office in Geneva, and in 2026 we hope to open another in the USA to broaden our customer base.
Internally, we are growing our LNG and low-carbon fuel teams, aligning with ADNOC’s decarbonisation strategy. We are broadening our portfolio to include LNG, LPG, biofuel, sulphur, hydrogen, as well as carbon credits soon. We aim to position ADNOC’s Trading businesses for success in a low-carbon economy. We will also increase our trading volumes in petrochemicals and speciality products to support ADNOC’s downstream growth ambition.
All this will come with a greater presence across the major hubs in Asia, Europe and the USA, as well as in our headquarters in Abu Dhabi. The competitive landscape is evolving; international majors dominate, but independent traders bring agility. At ADNOC Global Trading and ADNOC Trading, we combine the scale of a major with the agility of the independent trader to compete effectively.

What are the key trends that will shape oil trading in the years to come?
Oil and products trading is undergoing a profound shift, shaped by the three mega-trends: growth in energy demand, AI and digitalisation, and the transformation of energy systems.
Energy demand is rising, especially in emerging economies, and there is no single source that can meet that demand alone. We need more low-carbon oil and renewables, as well as new trading mechanisms to ensure the security of supply.

Digitalisation and AI will have a huge impact. How can you react quickly in a fast-moving world?
ADNOC aims to become the world’s most AI-enabled energy company, and ADNOC Global Trading is investing in predictive analytics, automated risk management and real-time trading platforms to stay ahead.
We want to have the tools to compete and be leaders in this space. The energy transformation is happening, and we are positioning ourselves to trade certified low-carbon commodities in line with ADNOC’s commitment to sustainability.

How does the ADNOC Trading Academy fit into ADNOC Global Trading’s growth strategy?
From day one, we decided to establish the ADNOC Trading Academy to help UAE nationals get into the trading business. Our success at ADNOC Global Trading is ultimately driven by our people, and our academy is a flagship initiative that cultivates world-class traders through a rigorous two-year programme that offers a blend of theoretical learning and live market exposure.
ADNOC Global Trading and ADNOC Trading currently employ more than 100 Emiratis. Since the academy’s inception, we have hired 38 graduates, many of whom now hold key positions, and we will expand the cohort with more than 80 trainees who are set to graduate in the coming years.

What is the long-term vision for ADNOC’s trading businesses?
ADNOC Global Trading and ADNOC Trading are on a trajectory to be among the world’s leading energy trading companies. Our track record over the past five years indicates that. Our goal is to keep expanding into new geographies and customer segments, leveraging technology and AI to enhance our trading intelligence.
We align with ADNOC’s broader strategy. This is very important. Our trading activities seek to support national ambitions, build resilience and shape our energy future. We are future-proofing ADNOC so that every barrel, every molecule and every trade creates value for the UAE economy.

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