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 and Costa Rica sign economic partnership deal
The UAE and Costa Rica have signed a Comprehensive Economic Partnership Agreement (CEPA) to improve bilateral trade and investment ties, President His Highness Sheikh Mohammed bin Zayed Al Nahyan said on Thursday.
Dubai-based Telegram app to hit 1 billion users 'within a year'
The Telegram messaging app, one of the most popular social media platforms, will likely cross one billion active monthly users within a year as it is spreading like "forest fire", its billionaire founder Pavel Durov said on Tuesday.
Microsoft invests $1.5 billion in Abu Dhabi AI company G42
G42, the leading UAE-based artificial intelligence (AI) technology holding company, has announced a $1.5 billion investment from Microsoft to strengthen it's expansion into new markets across the globe.
Spinneys announces intention to float on Dubai Financial Market
Spinneys Holding has announced its intention to proceed with an initial public offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market.
DXB remains world's busiest international airport
Dubai International Airport (DXB) has been ranked the world's busiest hub for international passengers for a tenth consecutive year.
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Chris & Robbie bring you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.
John Lyons of Espace Real Estate says there is a slight slowdown in the property market during summer. So we asked him, does this mean prices are negotiable during the summer months?
Lawyer Rebecca Kelly of Clyde & Co. explained why UAE judicial authorities are setting up new offices to deal with financial crime, including money laundering.
Airalo - an eSim company disrupting telco's roaming revenues, has raised $60 million in funding including investment from our own e&.
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.
