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Adnoc struck the deal to buy Germany's Covestro, its biggest-ever acquisition, last October

EU to decide on Adnoc’s Covestro deal by May 12

European Union (EU) antitrust regulators will decide by May 12 whether to clear Abu Dhabi state oil major Adnoc’s €15.9 billion ($17.2 billion) takeover of German chemicals company Covestro, a regulatory filing on the European Commission website showed. Adnoc struck the deal for its biggest-ever acquisition last October as Middle East countries seek to reduce their […]

ZRG Rovuma basin

Adnoc’s XRG seals a 10% stake in African gas projects

XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has completed its acquisition of a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique. The Rovuma basin, one of the largest gas discoveries in the past 15 years, offers XRG access to liquefied natural […]

Masdar said it "has no current plans to go public", adding it did not comment on "market speculation"

Masdar weighs IPO on Abu Dhabi stock exchange

Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […]

Taqa chairman Mohamed Hassan Alsuwaidi recently met with Spain's Criteria to discuss a potential Naturgy stake purchase deal

Taqa in talks to buy stake in Spanish utility Naturgy

Abu Dhabi National Energy Company (Taqa) is reportedly in talks with Spanish private equity group CriteriaCaixa to acquire a stake in Naturgy Energy Group. Taqa chairman Mohamed Hassan Alsuwaidi recently met with an unnamed Criteria executive to discuss a potential deal, Bloomberg reported. Criteria, which holds 26.7 percent of €24 billion ($26 billion) Naturgy, has […]

In 2024, Masdar completed acquisitions in Greece, Spain and the US

UAE’s Masdar expands renewable energy footprint

Abu Dhabi renewable energy company Masdar invested nearly AED30 billion ($8.2 billion) in equity last year and secured more than AED16.5 billion in project financing across nine countries. The company, which is targeting a renewable energy portfolio capacity of 100 gigawatts by 2030, has developed and partnered in projects in more than 40 countries, the […]

A Russian oil tanker transits the Bosphorus. Russia’s share of India’s naphtha imports has grown by 15 percentage points to more than 50 percent

UAE loses out as India opts for cheaper Russian naphtha

The UAE, led by Abu Dhabi, has lost its position as India’s biggest supplier of the refined crude oil product naphtha as discounted Russian cargoes flood the market. Naphtha has many uses including as a precursor to gasoline and other liquid fuels, and as solvents or diluents for paints and the rubber industry. India is […]

Following high-level meetings with President Donald Trump and Vice President JD Vance, a $1.4 trillion, 10-year US investment agreement was reached

UAE commits to $1.4trn investment framework in US

The United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, a White House official said on Friday. The new framework will “substantially increase the UAE’s existing investments in the US economy” in AI infrastructure, semiconductors, energy and American manufacturing, the […]

Du’s shares are up 8.3% this year, outperforming Dubai’s index, which is down 0.6%

Abu Dhabi’s Mubadala considers selling stake in du

Abu Dhabi sovereign fund Mubadala may sell its stake in du, the UAE’s second-largest telecom operator by subscribers, which if added to the free float would boost the stock’s chances of being included in emerging market indexes. Admittance to the MSCI and FTSE emerging market benchmarks means that exchange-traded funds which track these measures must […]