Company Insights Adnoc Oil & Gas Adnoc Overview Abu Dhabi National Oil Company – Adnoc – is the state-owned oil company of the United Arab Emirates. Founded in 1971, Adnoc is the world’s 12th largest oil company by production, producing around 4.85 million barrels capacity of oil each day from its Ruwais and Umm Al Nar refineries. It develops both onshore and offshore gas fields, with access to a total daily gas processing capacity of over 10 billion standard cubic feet. Adnoc operates across the energy value chain via a range of companies including Adnoc Drilling, Adnoc Distribution, Adnoc LNG and Adnoc Gas Processing and including exploration and production, processing and refining, and marketing and distribution. It received significant investments in 2019 from US asset managers BlackRock and KKR, Italian investment firm Eni and Singapore’s sovereign wealth fund GIC. In September 2020 Adnoc completed a $1 billion placement of shares for its fuel and convenience retailer Adnoc Distribution, the largest block placement of a publicly listed GCC company following its 2017 IPO. Adnoc still owns 80 percent of the company. This was followed by Adnoc Drilling going public on ADX in October 2021 and then Adnoc Trading, its gas processing and marketing company, being publicly listed on ADX in March 2023.Then in September 2024 Adnoc launched its first-ever bond sale, raising $4 billion through its wholly-owned primary debt capital market funding vehicle, Adnoc Murban. Adnoc aims to get to zero methane emissions by 2030 and net zero emissions by 2045 by investing in green energy and decarbonisation technologies. Adnoc News Opinion Trade Kaizen meets Vision 2030: Japan’s expanding role in Gulf growth Trade with the GCC is already almost $100 billion in imports and exports December 12, 2024 EXCLUSIVE Construction Masdar City struggles to find contractors for cutting-edge projects Masdar City, Abu Dhabi’s flagship sustainable eco-city project, is facing a shortage of contractors skilled enough to meet the demands of its ambitious projects, a senior executive has warned. Masdar City is under the control of the Mubadala Investment Company but operates within a shareholder structure that also includes Abu Dhabi National Energy Company (Taqa) […] December 12, 2024 Markets ADX ripe for international investment, say asset managers The Abu Dhabi Securities Exchange remains a sleeping giant for international investors despite the huge sums raised from recent ADX listings, speakers said this week at the emirate’s annual financial showcase. There have been 23 notable initial public offerings of UAE companies since the start of 2021 – 14 on the ADX and nine on […] December 11, 2024 Oil & Gas Adnoc Gas strikes LNG supply deal with Petronas State-backed energy major Abu Dhabi National Oil Company (Adnoc) has signed the second sales and purchase agreement for its Ruwais liquified natural gas (LNG) project at Al Ruwais Industrial City. The 15-year contract was signed with Malaysia’s Petronas to supply one million tonnes per annum (mtpa) of LNG. Deliveries are expected to start in 2028 […] December 6, 2024 Oil & Gas Adnoc Gas awards contract for processing project Abu Dhabi National Oil Company (Adnoc) subsidiary Adnoc Gas has awarded an engineering and design contract for its new gas processing facilities at Bab Gas Cap (BGC) to Australia’s Worley Engineering. Part of the UAE’s gas self-sufficiency drive, the new facilities will increase Adnoc Gas’s current processing capacity by 20 percent or 1.8 billion standard […] December 4, 2024 Petrochemicals Adnoc’s XRG to take over Germany’s Covestro XRG, the low-carbon and chemicals investment company founded by Abu Dhabi National Oil Company (Adnoc), is to become a major shareholder of German chemicals producer Covestro. The $16.3 billion takeover offer from Adnoc International Germany Holding, a wholly owned indirect subsidiary of XRG, has exceeded the minimum acceptance threshold, reaching 69.94 percent as of November […] December 3, 2024 Sustainability Adnoc launches $80bn unit for low-carbon transition State-backed energy major Abu Dhabi National Oil Company (Adnoc) has launched a new global lower-carbon energy and chemicals investment company valued at more than $80 billion. XRG will aim to more than double its asset value over the next decade by capitalising on the demand for low-carbon energy and chemicals. The three factors driving demand […] November 28, 2024 Opinion Markets UAE and Saudi capital market reforms are bearing fruit Inbound capital flows were thin on the ground outside traditional sectors November 27, 2024 Renewable Energy Adnoc’s Abu Dhabi CO2 storage site gets go-ahead The UAE has certified the feasibility of Abu Dhabi National Oil Corporation’s (Adnoc) West Aquifier CO2 storage site in Ruwais industrial site. The issuance of the Certificate of Feasibility for the West Aquifer project was issued by Det Norske Veritas (DNV), a global accredited registrar and classification organisation. The DNV said it is the first […] November 27, 2024 Analysis Renewable Energy Trump’s return may alter the future of renewable energy Adnoc’s acquisition in September of a 35 percent stake in ExxonMobil’s low-carbon hydrogen facility in Baytown, Texas, might have been a sign of things to come. The deal between the Abu Dhabi-owned oil company and the US energy major came as interest in clean hydrogen was waning in the US while rising in the Gulf. Former […] November 26, 2024 Posts navigation 1 2 … 38 Next
Opinion Trade Kaizen meets Vision 2030: Japan’s expanding role in Gulf growth Trade with the GCC is already almost $100 billion in imports and exports December 12, 2024
EXCLUSIVE Construction Masdar City struggles to find contractors for cutting-edge projects Masdar City, Abu Dhabi’s flagship sustainable eco-city project, is facing a shortage of contractors skilled enough to meet the demands of its ambitious projects, a senior executive has warned. Masdar City is under the control of the Mubadala Investment Company but operates within a shareholder structure that also includes Abu Dhabi National Energy Company (Taqa) […] December 12, 2024
Markets ADX ripe for international investment, say asset managers The Abu Dhabi Securities Exchange remains a sleeping giant for international investors despite the huge sums raised from recent ADX listings, speakers said this week at the emirate’s annual financial showcase. There have been 23 notable initial public offerings of UAE companies since the start of 2021 – 14 on the ADX and nine on […] December 11, 2024
Oil & Gas Adnoc Gas strikes LNG supply deal with Petronas State-backed energy major Abu Dhabi National Oil Company (Adnoc) has signed the second sales and purchase agreement for its Ruwais liquified natural gas (LNG) project at Al Ruwais Industrial City. The 15-year contract was signed with Malaysia’s Petronas to supply one million tonnes per annum (mtpa) of LNG. Deliveries are expected to start in 2028 […] December 6, 2024
Oil & Gas Adnoc Gas awards contract for processing project Abu Dhabi National Oil Company (Adnoc) subsidiary Adnoc Gas has awarded an engineering and design contract for its new gas processing facilities at Bab Gas Cap (BGC) to Australia’s Worley Engineering. Part of the UAE’s gas self-sufficiency drive, the new facilities will increase Adnoc Gas’s current processing capacity by 20 percent or 1.8 billion standard […] December 4, 2024
Petrochemicals Adnoc’s XRG to take over Germany’s Covestro XRG, the low-carbon and chemicals investment company founded by Abu Dhabi National Oil Company (Adnoc), is to become a major shareholder of German chemicals producer Covestro. The $16.3 billion takeover offer from Adnoc International Germany Holding, a wholly owned indirect subsidiary of XRG, has exceeded the minimum acceptance threshold, reaching 69.94 percent as of November […] December 3, 2024
Sustainability Adnoc launches $80bn unit for low-carbon transition State-backed energy major Abu Dhabi National Oil Company (Adnoc) has launched a new global lower-carbon energy and chemicals investment company valued at more than $80 billion. XRG will aim to more than double its asset value over the next decade by capitalising on the demand for low-carbon energy and chemicals. The three factors driving demand […] November 28, 2024
Opinion Markets UAE and Saudi capital market reforms are bearing fruit Inbound capital flows were thin on the ground outside traditional sectors November 27, 2024
Renewable Energy Adnoc’s Abu Dhabi CO2 storage site gets go-ahead The UAE has certified the feasibility of Abu Dhabi National Oil Corporation’s (Adnoc) West Aquifier CO2 storage site in Ruwais industrial site. The issuance of the Certificate of Feasibility for the West Aquifer project was issued by Det Norske Veritas (DNV), a global accredited registrar and classification organisation. The DNV said it is the first […] November 27, 2024
Analysis Renewable Energy Trump’s return may alter the future of renewable energy Adnoc’s acquisition in September of a 35 percent stake in ExxonMobil’s low-carbon hydrogen facility in Baytown, Texas, might have been a sign of things to come. The deal between the Abu Dhabi-owned oil company and the US energy major came as interest in clean hydrogen was waning in the US while rising in the Gulf. Former […] November 26, 2024
