DUBAI, United Arab Emirate, Aug 1 (NNN-WAM) – The Abu Dhabi National Oil Company (ADNOC), on Wednesday announced, it has finalised landmark strategic equity partnerships, with Italian Eni and Austrian OMV companies, in the oil refining field.
The agreement, which had been announced in Jan, includes one of the world’s largest-ever refinery transactions.
According to the deal, Eni and OMV acquired 20 percent and 15 percent shares, respectively, in ADNOC Refining, which undertakes refining over 9.82 million barrels per day of crude and condensate, at its Ruwais and Abu Dhabi refineries.
ADNOC, Eni and OMV have now incorporated a new trading venture, ADNOC Global Trading, at Abu Dhabi Global Market.
ADNOC Global Trading will focus on direct sales of products from the refinery to customers, primarily in Asia and emerging markets.– NNN-WAM
