Trends - ADNOC - Business Recorder

Markets

Most major Gulf bourses fall; Saudi rises on petrochems

Petrochem shares boost Saudi market
Financials weigh on United Arab Emirates
ADNOC Drilling raises over $1.1 billion from IPO
Qatar ends a three-day gain

Published 27 Sep, 2021 06:41pm

Markets

ADNOC boosts size of drilling unit IPO to $1.1 billion

ADNOC had previously targeted a minimum stake of 7.5% in the IPO of ADNOC Drilling, at 2.3 dirhams ($0.6262) per share

Published 22 Sep, 2021 11:02am

Markets

ADNOC to sell minimum 7.5% stake in ADNOC Drilling IPO

ADNOC owns 95% of the Middle East's biggest drilling company. The remaining 5% is owned by Baker Hughes, whose 2018 purchase of its stake valued ADNOC Drilling at $11 billion

Published 06 Sep, 2021 10:50am

Business & Finance

Trading arm of UAE's ADNOC secures $1.2 billion credit facility

The loan will be used to finance ADNOC Global Trading's trade flows and growth, ADNOC says

Updated 02 Sep, 2021 07:10pm

Print

Oil, gas exploration: PPL-led consortium awarded offshore block 5 in Abu Dhabi

KARACHI: A Pakistan Petroleum Limited-led consortium has been awarded offshore block 5 in Abu Dhabi’s second...

Published 01 Sep, 2021 03:33am

Business & Finance

Pakistani E&P consortium awarded oil block in Abu Dhabi

In a major development for Pakistan, a consortium of the country’s major E&P Companies has been awarded...

Published 31 Aug, 2021 06:06pm

Business & Finance

Pakistan's E&P consortium to incorporate special purpose vehicle

Consortium shall incorporate a company in Abu Dhabi Global Market or Pakistan, says notice to PSX

Published 24 Jun, 2021 06:00pm

Markets

Asian LNG prices rise on strong demand

SINGAPORE: Asian spot prices for liquefied natural gas (LNG) rose for a second consecutive week and touched their...

Published 05 Jun, 2021 04:08am

Markets

Real estate helps Dubai outperform big Gulf bourses

DUBAI: The Dubai stock market closed higher on Sunday, buoyed by gains in property shares, while strong ...

Published 24 May, 2021 04:03am

World

UAE attracts FDI of $20bn in 2020

DUBAI: Foreign direct investment (FDI) into the United Arab Emirates rose to $19.88 billion in 2020, up 44.2% from...

Updated 16 May, 2021 10:40am

Business & Finance

UAE attracts foreign investments of $20bn in 2020

Contributing to this figure were large deals carried out by the state-run Abu Dhabi National Oil Co (ADNOC), state news agency WAM said, without giving any further details.

Published 15 May, 2021 05:20pm

Markets

UAE to help Sudan secure all petroleum needs through flexible agreement

KHARTOUM: The United Arab Emirates has committed to supplying Sudan’s full requirements of petroleum products...

Published 13 May, 2021 03:10am

Markets

Saudi Arabia expected to cut June crude prices for Asia: survey

SINGAPORE: Top oil exporter Saudi Arabia is expected to cut its official selling prices (OSPs) for Asia in June,...

Published 05 May, 2021 04:01am

Business & Finance

ADNOC, Dutch-listed OCI set to pick Citi, FAB, HSBC for JV IPO

The line up of banks is still not finalised and ADNOC may add more advisors to the deal, said two of the sources, who declined to be named as the matter is not public.
ADNOC, HSBC, OCI and Citigroup declined to comment. First Abu Dhabi did not immediately respond to a request for comment.

Published 26 Apr, 2021 06:24pm

Markets

Abu Dhabi's ADNOC, Dutch-listed OCI weigh IPO of fertiliser joint venture

The firms submitted bids last week for the deal, which could raise at least $1 billion, they said.

Published 12 Apr, 2021 01:45pm

Business & Finance

UAE's ADNOC deepens supply cuts to Asia in June in 'fragile' market

The supply reduction will apply to the four grades of crude that ADNOC sells to Asia, namely Murban, Das, Umm Lulu and Upper Zakum, they said.
"Allocated volumes of Murban are in line with the figures reported in the ADNOC Onshore 'Murban Export Availability Forecast Report'," he added.

Published 25 Mar, 2021 05:50pm

Business & Finance

Italy's Snam pens hydrogen deal with Mubadala

Mubadala, which manages a $232 billion investment portfolio, recently set up the Abu Dhabi Hydrogen Alliance, with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi state holding company ADQ, to build a hydrogen industry for the UAE.
Snam, Europe's biggest gas transport group, is investing in green hydrogen and has said 70% of its natural gas grid is made up of "hydrogen ready" pipes.

Published 22 Mar, 2021 06:44pm

Markets

India, UAE vow to strengthen energy cooperation

UAE is a key oil supplier to India and a partner in an Indian joint venture that plans to build a 1.2 million barrels per day (bpd) refinery and petrochemical complex on the country's west coast.
India imports more than 80% of its oil needs, a significant amount of which comes from the Middle East.

Published 17 Mar, 2021 08:58pm

Markets

Middle East Crude-Dubai slips; ADNOC to maintain supply cuts in Feb

Upper Zakum crude supplies will be reduced by 18% in February, they said.

Published 24 Dec, 2020 12:20pm

Markets

Italy's Eni, Thailand's PTTEP win offshore exploration license in UAE

The concession expires in 35 years if the exploration phase, which can last for up to nine years, is successful.

Published 21 Dec, 2020 03:58pm

Markets

UAE's ADNOC to cut January crude oil term supplies

The cuts were down from a 20% reduction in crude oil term supplies by ADNOC in December.

Published 08 Dec, 2020 12:29pm

Business & Finance

UAE’s ADNOC, India’s Adani chemical complex project put on hold amid COVID

The planned location at Mundra located in the western state of Gujarat is owned by India’s multinational conglomerate Adani,

Published 09 Nov, 2020 10:16am

Business & Finance

Abu Dhabi Pension Fund, ADQ to invest $2.1bn in ADNOC gas assets

ADQ, which was established in 2018, owns assets such as Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX.

Published 15 Oct, 2020 06:22pm

Markets

UAE's ADNOC to explore clean energy expansion, CEO says

He said that even in the most fast-pace energy transition scenarios, the world would continue to get more than half of its energy needs from oil and gas for many decades to come.

Published 14 Oct, 2020 06:04pm

Business & Finance

ADNOC and Apollo-led consortium close $5.5 billion real estate investment partnership

The closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion, the company said in a statement.

Published 29 Sep, 2020 04:07pm

Business & Finance

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

The cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken. Key OPEC+ ministers hold talks next week.
ADNOC has notified its customers of its plans to cut crude oil nominations for August by 5% for all grades in line with OPEC+ pact to reduce oil supplies.

Published 07 Jul, 2020 09:29pm