68142
ADNOC to Offer Minority Stakes
Energy

ADNOC to Offer Minority Stakes

Abu Dhabi's state-owned oil company on Monday announced plans to publicly list parts of its business and seek new partnerships with oil majors. The UAE's energy giant is seeking to boost profitability and gain access to new markets during a period of prolonged low oil prices that has piled pressure on nations dependent on revenue from fossil fuel, CNBC reported. The Abu Dhabi National Oil Company, or ADNOC, is considering an initial public offering of minority stakes in some of its services businesses. The UAE joins Saudi Arabia and Oman in announcing plans to sell equity stakes in portions of their state-owned energy companies. However, Abu Dhabi does not plan to launch an IPO for ADNOC, the main holding company. That is in contrast to Saudi Arabia, which is expected to attract a valuation of $1 trillion to $2 trillion for Saudi Aramco by taking a portion of the company public in what is likely to be the largest-ever IPO.

 

Short URL : https://goo.gl/DKuuM8
  1. https://goo.gl/ULs2m6
  • https://goo.gl/7kgd2K
  • https://goo.gl/csvTBQ
  • https://goo.gl/MXCcqj
  • https://goo.gl/ePRv8Z

You can also read ...

Turkey Cuts Iran Oil Imports
Turkey’s biggest oil importer Tupras has cut back purchases of...
US Oil Industry Lobbies Against Russia Sanctions
The US oil and gas industry is lobbying against tighter...
Lack of Wind Jeopardizes UK Turbine Investments
It has been a stifling summer of disappointment for investors...
Tabriz Refinery Signs Tail Gas Agreement
Tabriz Oil Refining Company signed a $12 million agreement on...
Kuwaiti Crude Heading for Japan
Kuwait's newly launched Super Light crude oil is increasingly...
MAPNA Ready to Increase Installed Power Capacity
Iran's top engineering and energy enterprise MAPNA Group is...
ICOFC Intends to Boost Gas Condensate Output
The state-owned Iranian Central Oil Fields Company plans to...
EOR Operations Underway at North Yaran Oilfield
Operations are underway to increase oil production at North...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus