Loading...
Market
Story
ADNOC Forms Investment Unit Amid $12.6B Covestro Bid, $30B OMV Merger Plans
Nov 27, 2024, 12:26 PM
ADNOC, the largest oil producer in the UAE, has announced the formation of a new investment company focused on international natural gas, chemicals, and low-carbon energy operations. This move aligns with ADNOC's broader strategy to expand its presence in the energy sector, including a $12.6 billion bid for Covestro and a potential $30 billion merger with OMV. Additionally, ADNOC is leveraging recent natural gas discoveries to enhance OMV's appeal. ADNOC has officially launched the new unit as part of its growth initiatives.
View original story
Similar markets
Increased market share in chemicals • 25%
Technological advancements • 25%
Geographic expansion • 25%
Cost synergies • 25%
Solar energy • 25%
Wind energy • 25%
Hydrogen energy • 25%
Other • 25%
Shell • 25%
TotalEnergies • 25%
BP • 25%
Mitsui • 25%
Highways • 25%
Airports • 25%
State-of-the-art manufacturing • 25%
Other • 25%
Lithium • 25%
Cobalt • 25%
Nickel • 25%
Other • 25%
AI • 25%
Private Markets • 25%
Cryptocurrencies • 25%
Other • 25%
35% • 25%
More than 35% • 25%
Less than 35% • 25%
No stake • 25%
Eni • 25%
BP • 25%
TotalEnergies • 25%
Other • 25%
Transmission upgrades • 25%
Renewable energy capacity addition • 25%
Extreme weather protection • 25%
Other • 25%
