XRG, the low-carbon energy and chemicals investment arm of the Abu Dhabi National Oil Company (Adnoc), has made a significant move into the Central Asian market by investing in Turkmenistan’s gas and condensate fields. The company has secured a 38 percent stake in the offshore “Block I” concession, according to a statement released by XRG....
Abu Dhabi’s state-owned energy giant Adnoc has received key unconditional antitrust approval from the European Commission for its proposed €14.7 billion ($16.3 billion) acquisition of the German chemicals group Covestro. This decision, granted late Tuesday, eliminates a significant regulatory hurdle, clearing the path for the largest international deal in Adnoc’s history. The European Union concluded...
ADNOC Distribution and Noon have announced a partnership aimed at providing extra-fast deliveries in Abu Dhabi, enhancing the online shopping experience for residents. With this partnership, customers can expect quicker access to snacks, essentials, and gifts, making speedy shopping the new norm. The announcement was made with significant fanfare, featuring prominent figures such as H.E....
Abu Dhabi’s state oil company, the Abu Dhabi National Oil Company (ADNOC), is set to raise $1.5 billion from its first-ever sale of Islamic bonds, known as sukuk. This information was revealed in a document reviewed by Reuters on Monday. The sukuk will be issued at a rate of 60 basis points above U.S. Treasuries....
The Abu Dhabi National Oil Company (ADNOC) has introduced ‘Make it with ADNOC,’ a mobile app aimed at enhancing local manufacturing and supporting the UAE’s industrial growth under the national ‘Make it in the Emirates’ initiative. This app provides manufacturers, small and medium enterprises (SMEs), and entrepreneurs with real-time access to ADNOC’s procurement pipeline, creating...
Adnoc has signed significant liquefied natural gas (LNG) supply agreements with Chinese companies, marking a crucial step in enhancing economic ties between the UAE and China, the world’s second-largest economy. Under a 15-year contract with a subsidiary of ENN Natural Gas, Adnoc will supply up to one million tonnes of LNG annually, as reported by...
Abu Dhabi National Oil Company (Adnoc) is currently evaluating a bid for the natural gas assets of Aethon Energy Management, a US-based investment firm focused on energy. According to sources familiar with the matter, these assets could be valued at approximately $9 billion. Adnoc is collaborating with advisors to assess this potential offer, as other...
The European Commission has announced that its antitrust regulators will make a decision by May 12 on whether to approve or reject Adnoc’s acquisition of the German chemical company Covestro. This deal, valued at €15.9 billion (approximately $17.2 billion), represents Adnoc’s largest acquisition to date, which was agreed upon in October of last year as...
WEG, a prominent manufacturer of electric motors, variable frequency drives, and gearboxes, will play a crucial role in the development of a new oil pipeline for the Abu Dhabi National Oil Company (ADNOC). The integrated drive package from WEG will include flameproof electric motors, variable speed drives (VSDs), and transformers, which are designed to enhance...
The CEO of the Abu Dhabi National Oil Company (ADNOC), Sultan Al Jaber, announced that ADNOC’s international investment arm, XRG, plans to make a significant investment in U.S. natural gas over the coming months. This announcement was made during a major gathering of energy executives in Houston, where Al Jaber emphasized the need to “make...