UAE’s ADNOC explores more crude storage in Indian strategic oil reserves
NEW DELHI: UAE’s largest oil producer, the Abu Dhabi National Oil Company (ADNOC) on Tuesday said that it is interested in storing more oil in India’s strategic petroleum reserves to boost energy ties with world’s third largest oil consumer. ADNOC is the only overseas company so far that has crude stored in Indian caverns. In […]
ADNOC completes $1 billion institutional placement for distribution business
By Rania El Gamal DUBAI: State-run Abu Dhabi National Oil Company (ADNOC) said on Monday it had completed a placement to institutional investors of 10% in its subsidiary ADNOC Distribution’s ADNOCDIST.AD total share capital, or 1.25 billion shares, valued at $1 billion. The placement will increase ADNOC Distribution’s free float to 20%, and contribute to […]
ADNOC signs $5.5 billion real estate deal with Apollo-led consortium
DUBAI:Abu Dhabi National Oil Company (ADNOC) said on Wednesday it had entered into a $5.5 billion real estate investment partnership with a consortium led by Apollo Global Management Inc (APO.N). ADNOC said in a statement that the transaction will result in upfront proceeds of $2.7 billion to ADNOC and is expected to close before year-end. […]