Abu Dhabi National Oil Company (Adnoc) has set out a new strategy based around efficiency, profitability and maximising shareholder value, in the latest sign the UAE authorities are determined to cut wasteful spending. “Adnoc must evolve into a more agile organisation” said Sultan Ahmad Al-Jaber, the minister of state without portfolio who was appointed Adnoc’s chief executive in February. The changes are the latest in a series of reforms Al-Jaber has made since taking over. He has reshuffled the senior management team, ordered a review of major developments and is seeking cost reductions.