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.
UAE calls for enhanced trade cooperation at BRICS meeting
At the 14th BRICS Trade Ministers Meeting in Moscow, the UAE reiterated its call for stronger cooperation among member nations.
80 nations strike deal over e-commerce, but lack US backing
Around 80 countries reached an agreement on Friday on rules governing global digital commerce including recognition of e-signatures and protection against online fraud, but failed to bring the United States on board.
Abu Dhabi Customs wins six Harvard Business Council International Awards
Abu Dhabi Customs has won six gold awards at the 2024 Harvard Business Council International Awards, based in New York City, for its excellence in applying the best international practices and standards of quality and institutional excellence.
Dubai Taxi reports AED 1.09 billion revenue in 2024
Dubai Taxi Company (DTC) has reported its financial results for the six months (H1) ending June 30, 2024, showing a 14 per cent year-on-year revenue growth to AED 1.09 billion.
CrowdStrike says over 97 per cent of Windows sensors back online
More than 97 per cent of Windows sensors are back online, CrowdStrike's CEO George Kurtz said on Thursday, nearly a week after a software update by the cybersecurity firm triggered a global outage.
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Dubai Duty Free executive vice chairman and CEO, Colm McLoughlin, announced that he will be stepping down from his role after 55 years in the travel retail industry and 41 years of leadership at Dubai Duty Free. Colm joined the Business Breakfast to reflect on his epic career.
78% of AI users are now bringing their own AI tools to work, but what does this mean for employers? Zubin Chagpar, Senior Director and Business Group Leader, Modern Work and Surface Devices, Microsoft CEMA tells us more.
ADNOC Drilling's CFO, Youssef Salem, Chief Financial Officer, gives us insight into their 26% rise in Q1 net profit.
It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.
The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.
