Arab Press

بالشعب و للشعب
Sunday, Aug 31, 2025

Abu Dhabi's ADNOC weighs IPO of logistics and services unit next year

Abu Dhabi's ADNOC weighs IPO of logistics and services unit next year

State oil firm Abu Dhabi National Oil Company (ADNOC) is weighing an initial public offering (IPO) of its marine services, logistics and shipping arm next year, two sources familiar with the matter told Reuters.
ADNOC Logistics & Services (ADNOC L&S) has been selected for a potential float in Abu Dhabi in 2022, said the sources, declining to be named as the matter is not public.

A deal could follow after testing investor appetite and market conditions, they said.

ADNOC declined to comment when contacted by Reuters on Sunday.

Gulf oil producers are looking at sales of stakes in energy assets, capitalising on a rebound in crude prices to attract foreign investors.

ADNOC, which supplies nearly 3% of global oil demand, is seeking to extract value from businesses it owns and divest assets seen as non-core businesses.

It is also taking advantage of a rally on the Abu Dhabi equities index (.ADI), which is up about 65% this year, the best-performing market in the Gulf region.

ADNOC in September offered an 11% stake in its drilling business, which raised more than $1.1 billion from investors. ADNOC and chemicals firm OCI (OCI.AS) raised $795 million in October through the public share sale of its fertiliser venture Fertiglobe.

ADNOC L&S delivers crude oil, refined products, dry bulk and liquefied natural gas from Abu Dhabi to its international customers.

It was created in 2016 following a merger between Abu Dhabi National Tanker Co, Petroleum Services Co and Abu Dhabi Petroleum Ports Operating Co.

The unit has a fleet of over 240 owned and chartered vessels, which include tankers and very large crude carriers. It is also the only licensed operator to service all petroleum ports in Abu Dhabi.

The business is an essential unit of ADNOC, which is seeking to boost its crude oil production capacity to 5 million barrels per day by 2030.

The unit also operates feeder vessels that transport cargo on behalf of ADNOC and other customers. Shipping rates for cargo have soared in the past year as the coronavirus pandemic created bottlenecks and disrupted supply chains.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
×