UAE's ADNOC wants to rival oil majors as it expands in refining, gas | Reuters:
Abu Dhabi National Oil Co (ADNOC) will remain wholly owned by the Abu Dhabi government and has no plan to go public, but the firm aspires to compete with Big Oil by expanding in refining and gas, ADNOC’s CEO told Reuters.
ADNOC, which announced two gas deals with France’s Total and Italy’s Eni this week, will strike more agreements in that sector and seek investment opportunities abroad in liquefied natural gas (LNG), Sultan al-Jaber said.
“ADNOC will continue to be wholly owned by one and only one shareholder, and that is the Abu Dhabi government,” al-Jaber said.
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