Abu Dhabi’s ADNOC Gas shares up 18% over IPO price

  Shares of ADNOC Gas jumped about 18% over its listing price in the Abu Dhabi market debut on Tuesday. ADNOC Gas’ shares traded at 2.8 dirhams ($0.7625) apiece, versus its initial public offering price of 2.37 dirhams. State-backed oil giant Abu Dhabi National Oil Co (ADNOC) had earlier this month, raised about $2.5 billion […]

UAE’s ADNOC to pilot carbon mineralising project in Fujairah

  Abu Dhabi National Oil Company (ADNOC) has partnered with Fujairah Natural Resources Corporation (FNRC), Abu Dhabi Future Energy Company (Masdar) and Omani environmental organization 44.01 to pilot technology that permanently mineralises carbon dioxide (CO2) within rock formations found in Fujairah. The project, set to begin this month, will use 44.01’s Earthshot prize-winning Carbon Capture […]

Adnoc’s $15bn investment in low carbon strategy is another step on a long road to net zero

From Europe, it appears as dilemma, a paradox, a contradiction. From the Gulf, it seems much simpler. What road must oil companies travel as an energy-hungry world seeks a climate-friendly destination?  Adnoc announced Dh55 billion ($15 billion) of investments to 2030 in its low-carbon activities. This follows three other important transactions: in December, it bought Mubadala’s 24.9 […]

Adnoc’s new gas subsidiary begins operations

Adnoc’s new gas processing and marketing company, Adnoc Gas, began operations on January 1. Adnoc intends to proceed with an initial public offering (IPO) of a minority stake in Adnoc Gas on the Abu Dhabi Securities Exchange (ADX) during the course of this year, the state-run energy company said in a statement on Tuesday. A […]

Abu Dhabi’s ADNOC invites banks to pitch for gas business IPO -sources

    Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said a request was sent to a select number of banks last week for […]