Embracing innovation and sustainability to
drive future growth in the global energy market
DUBAI, UAE, July 23,
2024 /PRNewswire/ -- Coral Energy is proud to
announce its rebranding initiative as the company expands and
refines its operations. This change reflects the management's
commitment to further diversify its footprint and continue to mark
its separation from the past.
Since 2022, Coral Energy has undergone a comprehensive
transformation, including a successful management buyout. This has
enabled the company to develop new strategic geographic regions and
bring on board professionals with extensive experience in European
and Western markets to develop business opportunities.
"We are very excited to embark on this new journey and redefine
the future of our company" said Ahmed
Karimov, CFO of Coral Energy. "This upcoming rebrand is more
than just a name change; it symbolizes our commitment to
innovation, sustainability and transparency. We are enthusiastic
about the opportunities that lie ahead and are confident that our
new direction will lead to continued success."
The management buyout, completed in April
2024, emphasized transparency and improved business
processes. Best practice guidelines, know-your-customer (KYC)
standards, and compliance procedures are central to the company's
operations, enhancing risk management and operational efficiency.
This strategic decision strengthens decision-making procedures.
Additionally, business processes focus on in-depth employee
training and development, improving knowledge in compliance, risk
management, and sustainable practices.
"We have implemented stringent new compliance measures to ensure
the highest standards of ethical behavior and transparency," said
Karimov. "These improvements are an important part of our strategic
rebranding and expansion efforts. We are committed to fostering a
culture of integrity and accountability, and we look forward to a
bright future for the new Coral Energy as we continue to grow and
innovate."
The management team has implemented various automated and manual
compliance checks and screenings using real-time data to ensure the
deployment of compliant vessels and full adherence to sanctions
regulations. Coral Energy has strengthened these measures to
transform its business, focusing on operational excellence and
innovation. The company ceased all activities with a connection to
Russia in 2022.
View original
content:https://www.prnewswire.com/news-releases/coral-energy-announces-rebranding-to-highlight-new-strategic-vision-and-global-growth-initiatives-302203804.html
SOURCE Coral Energy