Brand: Abu Dhabi National Oil Company (ADNOC)
In 2015 – 2016, the global oil market crashed. At the time, it was arguably one of the worstoil markets in a generation, causing wide spreadangst among major oil-producing countries and companies – and their people. Along the Arabian Gulf coast, the United Arab Emirates (UAE) was no exception. When prices plunged from $120 to nearly $20 per barrel, the world's 12th-largest energy producer, the Abu Dhabi National Oil Company (ADNOC) – led by its young, new CEO, His Excellency Dr. Sultan Ahmed Al Jaber – was forced to react. Tough decisions were made. The company cut costs. It cut jobs – by the thousands. The Abu Dhabi community – and the broader UAE – had seen better days. In fact, only 40 percent of ADNOC employees, at the time, believed the UAE's best days were ahead of them.
This was the grave story told around the dinner table back then.