ADNOC announced today that it has formally closed the acquisition of a 24.9% shareholding in OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company (Mubadala). The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor. Financial details were not disclosed.
ADNOC and bp today announce that they have agreed to form a new joint venture (JV) in Egypt. The JV (51% bp and 49% ADNOC) will combine the pair’s deep technical capabilities and proven track records as it aims to grow a highly competitive gas portfolio.
ADNOC has won the Sheikh Hamdan Bin Zayed Environmental Award in the “Environmental Performance” category, which recognizes outstanding initiatives supporting the UAE’s attainment of the UN’s sustainable development goals for 2030.