Adnoc is considering how best to meet the world’s changing energy needs, although oil and gas will “remain at the heart” of the company’s business model, said Sultan Al Jaber.
Sultan Al Jaber
Adnoc has launched an artificial intelligence (AI) joint venture with Abu Dhabi’s Group 42.
An Apollo Global Management-led group will pay $2.7 billion to Adnoc for a 49% lease in various properties.
A group of international investors is buying a stake in ADNOC’s gas pipeline assets, which are valued at $20.7 billion.
There are “signs that the market has tightened in recent weeks and the OPEC++ agreement … is working to start to rebalance the market,” ADNOC’s CEO Sultan Ahmed al-Jaber said in comments at the company’s ‘Virtual Majlis’.
Abu Dhabi is taking steps to cement its position as a reliable supplier through the launch of the Murban Futures contract.
The Abu Dhabi National Oil Company (ADNOC) has today announced a six block licencing opportunity in conjunction with the Supreme Petroleum Council (SPC).
Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co.