Market Trends & Global Economy - Global stocks and futures experienced losses due to concerns about elevated valuations, leading investors to seek safety in Treasuries, gold, and the Yen [1][48] - A risk-off mood is prevalent, with major assets undergoing capitulation, impacting S&P futures and various indices [3][4] - A U S government shutdown has reached a record length of 36 days, adding to market uncertainty [6][31] - Crypto assets, including Bitcoin, are seeing pullbacks, indicating broad risk-off sentiment across multiple asset classes [7][53] ADNOC Global Trading & Strategy - ADNOC Global Trading was launched in December 2020 to add value by tapping into the trading space, shifting from 100% FOB sales to delivering 95% of products directly to buyers [8][9] - ADNOC Global Trading has expanded globally with offices in Singapore, Geneva, and plans for the U S, optimizing value across continents [10][14][15] - ADNOC Global Trading trades over 16 products, including byproducts, NAFTA, gas oil, gasoline, crude, LNG, carbon, and sulfur, with LNG trading volume three times its production [11][12] - ADNOC Global Trading views itself as an internal consultant, providing market insights to other ADNOC units for project planning and expansion [15][16] - ADNOC is implementing AI across the organization, including ADNOC Global Trading, focusing on data crunching, quick decisions, and risk management [21][22] Energy Market Dynamics & Production - ADNOC aims to increase its oil production capacity to 5 million barrels per day by the end of 2027, integrating AI to achieve this goal [56][58] - ADNOC is making progress in unconventional oil exploration, partnering with best-in-class operators and aiming for a minimum of 300 million per day in the near future [59][62] - Long-term energy demand is expected to grow, with oil demand remaining above 100 million barrels per day by 2040, emphasizing the need for reliable and low-carbon intensity production [68] Nigeria & Investment - Nigeria is open to selling its state-owned refineries to boost downstream competition and is proceeding with a $23 billion Euro bond sale [71][82] - Nigeria expects $20 billion of oil and gas investment by 2029, driven by improved fiscal years and a more competitive investment climate [78][79]