International Resource News-January 28, 2019--Abu Dhabi National Oil signs new strategic equity collaborations with Eni and OMV
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International Resource News - 28 January 2019
The Abu Dhabi National Oil Company, the United Arab Emirates' state-owned oil company, has signed two new strategic equity collaborations with Eni and OMV, including both ADNOC Refining and a new trading joint venture, which will be jointly established by the three partners.
Eni and OMV will acquire 20 percent and 15 percent shares in ADNOC Refining respectively, with ADNOC owning the remaining 65 percent. As a further part and condition of this contract, the partners will also establish a trading joint venture, in which Eni and OMV...