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UAE giant Adnoc set to offload stake in pipeline network

Abu Dhabi National Oil Company (Adnoc) is expected to sell a stake in its pipeline network to a group of investment firms from the United States, including BlackRock and KKR. According to press reports, the deal could be signed before the end of February, although at the time of writing there had been no official confirmation. If it goes ahead, the deal will mark a further step in Adnoc’s efforts to draw in more international investors – a process which has recently seen it sell a 35% stake in its refining and international marketing businesses to Italian major Eni and Austria’s OMV.

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