Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Our Strategy
Financials
Overview
Quarterly Reports 2010
Annual Report 2009
Annual Report 2008
Annual Report 2007
Annual Report 2006
Annual Report 2005
Annual Report 2004
Annual Report 2003
Annual Report 2001
Previous Quarter Results
Pillar Disclosures
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Investor Relations
Financial News
FinancialNews
19-02-23
Abu Dhabi state gas firm ADNOC to trade 4 percent of stakes in IPO
(MENAFN) The Abu Dhabi National Oil Company’s gas processing company stated on that Friday it prepares to traded 4 percent of its stakes to domestic financers in the most recent initial public proposing to be established by a state-run energy firm in the Middle East, as shown by AP.
The move comes after a similar IPO by the Saudi oil giant Aramco in 2019 that increased an amount of USD30 billion, and comes months ahead the UAE is prepared to hold this year’s UN climate talks.
The UAE, which is home to Abu Dhabi and Dubai, chose Sultan Al-Jaber, the cehif executive of ADNOC, who also manages renewable energey ventures, to rule the COP28, angering climate change campaigners.
ADNOC has admission to 95 percent of the UAE’s natural gas reserves, the world’s seventh biggest. It provides gas to over 60 percent of the domestic market and shipment to over 20 nations. The firm had a net revenue of USD4.2 billion in the opening 10 months of last year, rising USD3.6 billion on a yearly basis.
It prepares to register more than 3 billion stakes on the Abu Dhabi stock exchange for buying by domestic financers beginning Feb. 23.
“Natural gas is central to the energy transition,” Khaled Al Zaabi, acting group head financial officer of ADNOC, stated in a press release. Adding, “ADNOC Gas is well-positioned to responsibly harness our significant natural gas resources, while driving efficiencies, delivering value, and reliably supplying this key fuel to meet the world’s growing energy needs.”
MENAFN19022023000045014228ID1105597091
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us