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 8119 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
Make Up for Ever Introduce Two New High Performance Products Within the Aqua Resist Range [7860-Views]
Mouawad Reveals the Journey of the Extraordinary Botswana Diamond [5974-Views]
Eid Gift Ideas by The Body Shop UAE [5355-Views]
VIP Drivers Announced for the Jaguar I-pace Etrophy ‘Lockdown Showdown' in Berlin [4047-Views]
Two Emiratis claim GUINNESS WORLD RECORDS titles in July [3505-Views]
Parmigiani Fleurier to participate at first Watches & Wonders -Shanghai' [2944-Views]
The Potential of Colour as a Design Element [2882-Views]
Joyalukkas Announces its Mega Eid Discount Offer [2784-Views]
Parmigiani Fleurier to Participate at first Watches & Wonders -Shanghai [2546-Views]
Kristina Fidelskaya - Summer Essential [2440-Views]
Six of the Best Tech Gifts This Eid [2181-Views]
Deema Ajlani | The Eid Edit [2157-Views]
PayBy Partners With Lulu to Bring Shoppers Contactless and Secure Payment Solutions [2046-Views]
Siemens Compressors Selected for Gas Reservoir Storage Project with Saudi Aramco [1976-Views]
Ooredoo Qatar and Ericsson reach new heights in 5G [1972-Views]
Instinctif Partners and Advert One Complete IPO Advisory Role for Amlak International [1964-Views]
NYU Abu Dhabi Astrophysicist Investigates the Possibility of Life below the Surface of Mar... [1906-Views]
Save up to AED 25,000 on Pre-Owned Lexus Cars with Al-Futtaim Auto Fest [1906-Views]
Eid Al Adha Gift Guide [1894-Views]
Safe Start-up of Unit 1 of Barakah Nuclear Energy Plant Successfully Achieved [1882-Views]
Schneider Electric Shows They Are Acting to Build a Green and Inclusive Future for All Thr... [1870-Views]
EWEC Announces Partners to Develop the World's Largest Solar Power Plant [1853-Views]
UAE Team Emirates Return to Racing at the Vuelta Burgos [1820-Views]
Win Big at Dalma Mall with the ‘Eid Family Shopping Challenge' [1812-Views]
“New Law to Position Dubai as World's Commercial and Start-up Hub for Drone Services – FED... [1779-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories