Etihad Energy Holding elects H.E. Suhail Al Mazrouei as Chairman and Alameri as Vice Chairman
Dubai, United Arab Emirates – 04 May 2026: Etihad Energy Holding PJSC (formerly Gulf Navigation Holding PJSC), listed on the Dubai Financial Market, announced the completion of its corporate leadership structure for the new Board of Directors’ term.
Shareholders had elected the new Board members during the Annual General Assembly meeting held on Friday, 24 April 2026, and the newly elected Board subsequently elected H.E. Suhail Al Mazrouei as Chairman of the Board of Directors of the Company, and Mr. Rasool Alameri as Vice Chairman.
Vision for the Next Phase
On this occasion, H.E. Suhail Al Mazrouei confirmed that the new Board assumes its responsibilities at a pivotal stage in the Company’s journey, stating: “We look forward to strengthening the Group’s position as a key pillar in the energy, oil and gas, and maritime infrastructure ecosystem in the United Arab Emirates, in a manner that serves shareholders’ expectations and aligns with national economic priorities.”
Share Buyback Program
For his part, Eng. Saif Al Hazaimeh, Acting Chief Executive Officer of the Company, explained that the General Assembly approved the launch of a share buyback program with a ceiling not exceeding 5% of the issued share capital, to be implemented in accordance with the regulatory requirements issued by the Capital Market Authority and the Dubai Financial Market, and to be funded exclusively from the Group’s operating cash flows.
Al Hazaimeh added: “This program comes as part of our commitment to maximizing shareholder returns and strengthening their confidence in the Group’s financial trajectory. It also reflects the Board’s conviction in the intrinsic value of the share and the strength of the Company’s financial position.”
Renewed Corporate Identity and Integrated Platform
In discussing the Company’s name change, the Acting CEO noted that the transition to the name Etihad Energy Holding reflects a renewed corporate identity for a broader and more ambitious entity, which today brings together specialized maritime logistics services and energy storage solutions under one integrated operating platform, managed by a capable executive leadership and governance structures aligned with the highest international standards.
Investment in Growth and Expansion of Operations
Al Hazaimeh confirmed that the Group continues to implement its third expansion phase in Fujairah within the Oil Industrial Zone, in line with approved timelines, noting that this phase will add high-quality storage capacity for petroleum products, enhancing the Group’s position in the storage sector in Fujairah, and relying on the latest global technologies in this field, including advanced flow and discharge rates in line with the highest standards applicable to such facilities.
He added that the Group is simultaneously continuing engineering studies for an integrated refining facility project, which would enable it to transition from an infrastructure operator to a fully integrated player across the oil value chain, from reception and storage to refining, leveraging the strategic geographic location of the Emirate of Fujairah as a vital hub linking Gulf energy markets with the Indian Ocean and Asian gateways.
Al Hazaimeh concluded by stating: “The new Board of Directors carries a clear strategic vision and a firm commitment to delivering real and sustainable value for all shareholders.”
