ADNOC forms new international investment arm

Abu Dhabi National Oil Co. (ADNOC) is setting up an international arm to invest in oil and gas firms abroad, according to Reuters, citing local reports. The new firm will be known as ADNOC International Ltd. and will be capitalized at $1 billion. It will be fully owned by ADNOC, but independent, and will be based in Abu Dhabi.

ADNOC International will invest in, own, and run oil and gas firms and assets for exploration, drilling, and production, as well as for marketing, refining, and distribution outside Abu Dhabi. It will also conduct activities in the emirate, from which comes the bulk of oil production of OPEC's third largest producer.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...