Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
ENOC launches corporate governance programme set to global standards
 
ENOC launches corporate governance programme set to global standards

• Adopts  corporate governance progression level matrix aligned to international benchmarks
• New approach to create sustained long-term value and to manage future growth

Dubai, UAE; April 9, 2013: Emirates National Oil Company (ENOC) has unveiled a corporate governance programme that is set to international standards with the objective of creating sustained and long-term value and to manage the company's future growth across new geographic areas and diversified business segments.

Saeed Khoory, Chief Executive Officer of ENOC, launched the new programme that further builds on the existing corporate governance practices. A Corporate Governance Progression Level Matrix has also been adopted that aligns all related practices of the Company with international benchmarks. As part of the launch, an awareness session was conducted for the leadership team.

Saeed Khoory said: “The corporate governance framework for ENOC establishes our intent to work towards attaining regional leadership in implementing industry corporate governance best practices. As ENOC embarks on its value creation strategy of geographic expansion and business growth, it is imperative that all our processes are aligned with the core values and purpose of our organisation.”

He added: “This reflects our focus not only on enhancing our performance and productivity but doing so with the highest levels of business principles. Since inception we have been led by our core values of team work, integrity, transparency, respect and customer focus. We have further strengthened this with the inception of a Business Ethics & Compliance function and a Code of Business Conduct that is applicable across every operation of ENOC and its group companies as well as its partners. The corporate governance programme will further redefine the way we do business with a focus on values and ethics that safeguard the interests of our stakeholders.”

A wholly-owned company of the Government of Dubai, ENOC is today the strength ‘behind every successful journey' touching people's lives through its five business segments including Retail, Marketing, Terminals, Supply, Trading & Processing, and Other Ventures & Investments. The company also has a growing international footprint with established operations across the Middle East, Africa, South Asia and Far East Asia.

The Corporate Governance Progression Level Matrix adopted by ENOC has six key attributes and four levels starting with ‘compliance with laws and basic corporate governance formalities' to ‘corporate governance leadership.' With the new programme in place, ENOC will continuously assess the operations of all its companies to ensure that its existing levels of corporate governance conform to international best practices. These will be enhanced regularly to promote the Group's leadership regionally.

ENOC has already commenced assessment of its existing corporate governance practices across all companies led by a dedicated team. Following the review, a full-fledged ENOC Code of Corporate Governance will be developed and implemented by the end of the year.

-ends-


Posted by : Dubai PR Network Editorial Team
Viewed 7601 times
PR Category : Energy and Industry
Posted on : Thursday, April 11, 2013  7:03:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Petrochemical Conversion Company Announces Successful Delive...
Next Story : Total signs agreement with Kuwait University
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Inventive, Futuristic and Daring Translucent is a Distinguished Milestone for Police. [6423-Views]
Show your Nanny some love and treat them to a Complimentary Haircut throughout August and ... [4880-Views]
Introducing Lunette: A Tool to Empower Women [4520-Views]
Corum Golden Bridge Titane DLC - black beauty for the man of style [4343-Views]
Robinsons Showcases Malone Souliers' Stunning New Collection for Pre-Fall 19 [4056-Views]
Marks & Spencer Unveils Its Autumn 2019 Kidswear Collection [3819-Views]
Aesop's Parsley Seed Skin Priming Regimen [3654-Views]
Ferragamo Urban - 2019 Fall/Winter Collection [3581-Views]
GUESS - The Perfect Tote [3489-Views]
Same Favourite Fragrance, New Innovative Products From the Ritual of Karma [3483-Views]
Sandro: The Power Suit [3379-Views]
Corum Admiral Legend 42-Icon ahead [3367-Views]
GEMS Education students shine with excellent A-Level examination results [3355-Views]
Dubai Delivers on Tourist Volumes Again, With a Strong 8.36 Million Overnight Visitors in ... [3337-Views]
Ralph Lauren Debuts “Wear Your Story” Denim Campaign [3294-Views]
The future of photography and videography is in Canon's hands, with five 2019 EISA Awards [3294-Views]
Autumn / Winter 2019-20 Men's and Women's Sneakers Collection [3282-Views]
Hormann announces speed rolling shutter DD S6 [3245-Views]
Al Ain Hospital doctors save young girl from 2.5 cm pin in her lungs [3233-Views]
Exceptional Playtime with Soundcore Vortex [3215-Views]
Tazio Nuvolari Vanderbilt Cup [3196-Views]
Forecasting Mesmerising Sea Views and Exotic Seafood at Gonu [3148-Views]
Get 50 per cent off back-to-school essentials at Dragon Mart [3105-Views]
Jaguar I-pace: Redefining What It Means to Be a ‘CAR' [3080-Views]
Rock Chic Edit with GUESS [3080-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories