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UAE: ADNOC to list subsidiaries

Abu Dhabi National Oil Company (Adnoc) has become the latest state-owned oil company to eye up local stock markets. Adnoc is planning to list minority stakes in some of its service company subsidiaries, according to a statement issued on 10 July. As yet, no specific units have been named as candidates, but any listings appear likely to go ahead on the Abu Dhabi Securities Exchange. Adnoc’s move follows similar plans previously announced for Saudi Aramco and Oman Oil Company.

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