ADNOC

Oil & Gas

Baker Hughes, GE in talks with Abu Dhabi on drilling stake

15/05/2018

Baker Hughes, a GE Company, is in talks with Abu Dhabi National Oil Co. to set up a partnership that could lead to the U.S. firm taking a minority stake in the state-owned energy giant’s drilling unit, according to people with knowledge of the matter.

Middle East

OMV in $1.5bn deal for Abu Dhabi oil fields

09/04/2018

OMV will buy 20% of two offshore oil fields in Abu Dhabi, the Austrian firm said. It will pay $1.5billion for the stakes in Satah Al Razboot  and Umm Lulu. OMV expects to sign on the dotted line with Abu Dhabi National Oil Company by the end of this month.  

Middle East

Adnoc unit IPO to raise $902m after narrowing range

06/12/2017

Abu Dhabi National Oil Co. plans to raise as much as 3.31 billion dirhams ($902 million) from the initial public offering of its fuel-retailing unit after lowering the top end of the offer price and deciding to only sell a 10 percent stake.

Middle East

Adnoc said to be cutting 5,000 jobs

16/05/2016

Abu Dhabi's state-owned National Oil Co (ADNOC) plans to cut 5,000 jobs by the end of the year, and 2,000 of the lay-offs have already been carried out, Middle East news service MEED has reported.