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Abu Dhabi National Oil Company: Difference between revisions
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=== Foreign direct investment === | === Foreign direct investment === | ||
Major investments were made to ADNOC in 2019 by US asset managers [[BlackRock]] and [[Kohlberg Kravis Roberts|KKR]] and Italian investment firm [[Eni]]. The US firms acquired about 40% of ADNOC's pipeline assets for about $4 billion while Eni SpA took a 20% stake in Abu Dhabi Oil Refining Company for over $3 billion.<ref>{{cite web|last=Abbas|first=Waheed|title=UAE becomes largest FDI recipient in the Middle East|url=https://www.khaleejtimes.com/business/economy/uae-becomes-largest-fdi-recipient-in-the-middle-east|access-date=December 20, 2020|website=Khaleej Times|language=en|archive-date=July 16, 2020|archive-url=https://web.archive.org/web/20200716035655/https://www.khaleejtimes.com/business/economy/uae-becomes-largest-fdi-recipient-in-the-middle-east|url-status=live}}</ref> [[Austria]]'s [[OMV]] also invested about $2.8 billion, about 15% in ADNOC's refining business in partnership with Eni.<ref name="Reuters Staff">{{Cite news|date=January 15, 2020|title=Factbox: Abu Dhabi's ADNOC attracts billions from foreign investors|language=de|work= | Major investments were made to ADNOC in 2019 by US asset managers [[BlackRock]] and [[Kohlberg Kravis Roberts|KKR]] and Italian investment firm [[Eni]]. The US firms acquired about 40% of ADNOC's pipeline assets for about $4 billion while Eni SpA took a 20% stake in Abu Dhabi Oil Refining Company for over $3 billion.<ref>{{cite web|last=Abbas|first=Waheed|title=UAE becomes largest FDI recipient in the Middle East|url=https://www.khaleejtimes.com/business/economy/uae-becomes-largest-fdi-recipient-in-the-middle-east|access-date=December 20, 2020|website=Khaleej Times|language=en|archive-date=July 16, 2020|archive-url=https://web.archive.org/web/20200716035655/https://www.khaleejtimes.com/business/economy/uae-becomes-largest-fdi-recipient-in-the-middle-east|url-status=live}}</ref> [[Austria]]'s [[OMV]] also invested about $2.8 billion, about 15% in ADNOC's refining business in partnership with Eni.<ref name="Reuters Staff">{{Cite news|date=January 15, 2020|title=Factbox: Abu Dhabi's ADNOC attracts billions from foreign investors|language=de|work=Reuters|url=https://de.reuters.com/article/us-emirates-adnoc-strategy-factbox-idINKBN1ZE16Z|access-date=December 20, 2020}} {{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}}</ref><ref>{{cite web|title=Adnoc closes refining deal with Eni and OMV and establishes trading joint venture|url=https://www.thenationalnews.com/business/energy/adnoc-closes-refining-deal-with-eni-and-omv-and-establishes-trading-joint-venture-1.892947|access-date=December 20, 2020|website=The National|date=July 31, 2019|language=en|archive-date=November 24, 2020|archive-url=https://web.archive.org/web/20201124121102/https://www.thenationalnews.com/business/energy/adnoc-closes-refining-deal-with-eni-and-omv-and-establishes-trading-joint-venture-1.892947|url-status=live}}</ref> | ||
Singapore's sovereign wealth fund [[GIC (Singaporean sovereign wealth fund)|GIC]] completed a deal with ADNOC in May 2019 that gives GIC a 6% share in ADNOC's pipeline infrastructure. The deal is valued at $600 million.<ref name="Reuters Staff"/><ref>{{Cite news|date=September 4, 2019|title=UAE's ADNOC signs $600 million agreement with Singapore's GIC|language=en|work=Reuters|url=https://www.reuters.com/article/us-adnoc-gic-infrastructure-idUSKCN1VP0M6|access-date=December 20, 2020|archive-date=September 24, 2019|archive-url=https://web.archive.org/web/20190924143436/https://www.reuters.com/article/us-adnoc-gic-infrastructure-idUSKCN1VP0M6|url-status=live}}</ref> | Singapore's sovereign wealth fund [[GIC (Singaporean sovereign wealth fund)|GIC]] completed a deal with ADNOC in May 2019 that gives GIC a 6% share in ADNOC's pipeline infrastructure. The deal is valued at $600 million.<ref name="Reuters Staff"/><ref>{{Cite news|date=September 4, 2019|title=UAE's ADNOC signs $600 million agreement with Singapore's GIC|language=en|work=Reuters|url=https://www.reuters.com/article/us-adnoc-gic-infrastructure-idUSKCN1VP0M6|access-date=December 20, 2020|archive-date=September 24, 2019|archive-url=https://web.archive.org/web/20190924143436/https://www.reuters.com/article/us-adnoc-gic-infrastructure-idUSKCN1VP0M6|url-status=live}}</ref> | ||