Abu Dhabi’s ADNOC considering IPO in some services

Abu Dhabi National Oil Co (ADNOC) is considering an initial public offering of minority stakes in some of its services, its chief executive Sultan Ahmed Al Jaber said on Tuesday.

“Strategic partnerships are key to optimising our entire value chain and growing market share,” he said at the Oil and Money conference in London.

“We are considering potentially an IPO of minority stakes in our services … ADNOC will remain wholly owned by one single shareholder, the Abu Dhabi government.”