Ali Siddiqui, previously Acting Chief Financial Officer at ADNOC Distribution, has been formally appointed as the company’s permanent CFO in the latest leadership transition announced by Siddiqui on Saturday morning.
The appointment formalises Siddiqui’s position after he served as Acting CFO from December 2024, overseeing the company’s finance function during a period of evolving energy market conditions.
The confirmation comes as UAE fuel prices continue to fluctuate, with diesel prices declining 7.7% MoM in June while petrol prices have risen in recent months amid geopolitical headwinds affecting global energy markets.
Diesel prices fell 7.7% to AED 4.33 ($1.18) per litre from AED 4.69 in May while UAE petrol prices have continued to climb since March.
ADNOC Distribution operates fuel service stations across all seven Emirates and remains the largest fuel retailer in Abu Dhabi, Sharjah, and the Northern Emirates.
The company continues normal operations across its network despite changes in fuel pricing.
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