Adnoc and BP have made a joint offer to buy a 50 per cent stake in Israel-based NewMed Energy.
The non-binding offer would see the company effectively taken private.
Adnoc said the move is part of plans to establish a joint venture with BP with a focus on gas development.
The two companies intend to explore a range of mechanisms for the formation and potential further expansion of their new partnership.
Buying the NewMed stake would be a "significant first step in this direction", added Adnoc.
US-India trade deal could be signed in 3-4 months, US official says
A long-awaited US-India trade agreement could be signed within the next three to four months, a senior US official said on Wednesday, indicating negotiations between the two sides have been virtually completed.
Google hit with $1 billion EU fine, first under landmark rules
Alphabet's GOOGL.O Google was fined a total of €890 million ($1 billion) on Thursday for flouting European Union rules aimed at reining in the power of Big Tech, the European Commission said.
Trump announces 50% tariffs on wide range of Canadian imports
US President Donald Trump has announced sweeping new tariffs of up to 50 per cent on a broad range of Canadian imports, opening a new front in the trade dispute between the neighbouring countries.
Fitch assigns Invest Bank long-term credit rating of 'BBB+'
Fitch Ratings has assigned Invest Bank (INB) its first long-term credit rating of BBB+ with a stable outlook, marking the institution’s strong financial profile and positioning the bank for sustainable long-term growth.
ADNOC approves $6.2bn investment to expand UAE gas production
ADNOC has approved a $6.2 billion (AED22.6 billion) investment to develop the Umm Shaif Gas Cap project, as it steps up plans to expand the UAE's natural gas production and liquefied natural gas (LNG) exports.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!
