According to “people familiar with the matter,” discussions didn’t progress farther than initial conversations. Along with political factors, ADNOC decided that the $110.3 billion company wouldn’t fit well into its strategy.
Adnoc: At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC).
In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".
In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".
All but one of the firm’s operational rigs are currently deployed in Abu Dhabi, with most serving its parent company. However, by the end of 2024, the company will have enough rigs to deploy outside of the United Arab Emirates too, Salem said. It will spend $750-950 million to acquire 15 rigs this year.
BP plc and the Abu Dhabi National Oil Company (ADNOC) announced on Wednesday that they are forming a joint venture for gas exploration in Egypt. The incorporated joint venture is expected to be establ...
ADNOC wins Sheikh Hamdan bin Zayed Environmental Award webwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webwire.com Daily Mail and Mail on Sunday newspapers.