Fox Petroleum Group Sets Strategic Direction for 2025
DUBAI, UAE: Fox Petroleum Group, a global leader in energy, infrastructure, and media, held its Annual Board of Directors Meeting and Financial Session on April 18, 2025, in Dubai, UAE. Under the dynamic leadership of Chairman and Managing Director Dr. Ajay Kumar, PhD, the company unveiled a visionary roadmap, leveraging its $12.5 billion valuation and $4.5 billion cash reserve to drive transformative projects across 23 countries.
In a powerful address, Dr. Kumar paid tribute to the late Mr. Steev Jacob Reed, a pivotal figure in Fox Petroleum’s journey, whose integrity and vision continue to inspire the organization. Honoring his legacy, Dr. Kumar announced the induction of Mr. Johny Steve Reed, Steev Reed’s son, as a nominee to the Board of Directors, ensuring the Reed family’s values endure. Additionally, a charitable trust or NGO partnership was proposed to transform lives in memory of key figures like Mr. Reed, Mr. John Fox, and Engr. Bertoli Maclain, Sabiha Ma’am, and Dr. Kumar’s brother, former Group CEO Amit Kumar.
Financially, Fox Petroleum Group reported exceptional performance for the fiscal year 2024–2025, navigating global economic volatility with a net profit of $8.75 million from 1.798 million barrels of refined petroleum products and a total comprehensive income of $11.25 million. The company’s crude oil division delivered a gross profit of $3.79 billion, while the LNG division achieved a net profit of $63.1 million. With a monthly inventory valuation of $4.62 billion—comprising $1.2 billion in crude oil, $1.91 billion in LNG, and $1.51 billion in refined petroleum products—Fox Petroleum solidifies its position as a global energy powerhouse.
Dr. Kumar outlined strategic investments of the $4.5 billion cash reserve, fueling Fox Construction’s infrastructure projects, including bridges, hospitals, and smart cities, and expanding Fox Global Times into a global media leader. Two new ports and a pipeline will build on the success of the $5.6 billion Oman-India Multi-Purpose Pipeline and $2 billion Karnataka LNG FSRU, enhancing energy connectivity and generating $434 million annually from investments in 46 companies.
Fox Construction Group announced a landmark deal, monetizing a 430-acre township in Maharashtra for ₹714 crores (approximately USD 85 million), and is preparing to subcontract civil amenities for Australia’s Goulburn project. The division’s work value is projected to reach $2 billion over the next two years, with projects spanning Australia, South Africa, the UAE, and India, including an Industrial Logistics Park near Jewar Airport in collaboration with a German contractor.
In media, Fox Global Times India will lead global operations, ensuring journalistic integrity and legal compliance. Strategic alliances with a Russian news channel and a Malaysian network are in advanced stages to bolster Fox Global Times UAE. Dr. Kumar emphasized a commitment to ethical media, stating, “We must stand as a transparent, resilient institution, rising above controversy.”
Addressing governance, Dr. Kumar requested support from key stakeholders—Mr Victor, Mr. Naseer, Mrs. Taylor, and Mr. Zhaou—to secure a 5% equity stake in the Central Bank of India’s disinvestment, urging action by August 15, 2025, to meet regulatory requirements. He also appointed Dean and Dabash to lead Fly Fox operations and announced a 26% salary hike for employees below managerial level and a 5% hike for managers, alongside promoting four Associate CEOs to full CEOs.
Dr. Kumar’s address blended resolve and candor, warning against inefficiency while reaffirming his commitment to a “Family First Leadership” ethos. He introduced “Fox Family” initiatives, empowering youth and honoring veterans, and declared, “We are not just building pipelines and profits—we’re building people.” For the first time, new directors from Fox Global Times will join the board, with Dr. Kumar requesting their adherence to company protocols.
The meeting concluded with operational directives: all documents, including debit notes and grievance letters, are to be submitted by April 25, with dividends disbursed in early May. Dr. Kumar will become the primary signatory for the company’s 47 active bank accounts, streamlined from 119.
“Welcome to the new era of Fox Petroleum—where power walks, results speak, and history listens,” Dr. Kumar concluded. “We rise together, or not at all.”
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