Credit: ADNOC (file photo)
Abu Dhabi’s ADNOC board has approved plans to advance the expansion of the company’s five million barrels per day oil production capacity through 2027, the company said in a statement. a press release on Monday.
ADNOC’s gas processing and LNG businesses will be consolidated to create ADNOC Gas, and ADNOC will list a minority stake in the new company on ADX next year, the statement added.
(Reuters – Reporting by Maha El Dahan and Alaa Swilam; Writing by Maha El Dahan; Editing by Jan Harvey)