Abu Dhabi National Oil Company ( ADNOC ) was established in 1971 under the Supreme Petroleum Council (SPC) to facilitate oils and gas business throughout UAE. With a market value of approximately $ 8.9 billion (as of 2019), ADNOC is the only wholesale dealer in the region.
Anyone who wishes to be an oil retailer in the local market can register with them for signing a contract of sale with them. Although it sounds simple, the procedure is highly competitive and your application needs to undergo strict evaluation before approval. You need to fit into their tight qualification criteria and should involve a local Emirati partner with at least 51% share in your firm. Therefore, the whole procedure of the application if not done in the right way can cost you a lot.
We help you in being a vendor with ADNOC and get through the long and strictly channeled qualification procedure. So far our expertise has benefited many vendors being partners with ADNOC.
What are the Qualification criteria?
The registration is reserved only for companies based in Abu Dhabi. Other companies can set up a partnership with these local companies to benefit from the dealings. Only those Vendors or suppliers whose applications clear the qualification procedure will be entitled to a collaboration with ADNOC. Besides, MUST have an Emirati partner holding a Passport issued in Abu Dhabi.
Need for Local Partner
As mentioned, it is mandatory for companies applying for ADNOC registration to have an Emirati local partner. But this does not mean you qualify for the deal if you just have a local sponsor either. Even the scrutiny of the local partner's whereabouts is strict in the process. You should not assume that every sponsor from Abu Dhabi will be approved by ADNOC. It is advisable to look for a sponsor with a successful track record.
With a wrong choice, you risk the rejection of the registration and need to transfer to another local sponsor. Transferring sponsorship and resubmitting the registration cost you as much as it did in the initial process.