Insight
ADNOC Refining welcomes Eni and OMV
Report summary
ADNOC has sold a 35% stake in its refining business to Eni and OMV in a deal valued at US$5.8 billion. Eni acquired a larger stake, 20%, for US$3.3 billion, whilst OMV took 15%, valued at US$2.5 billion. ADNOC will retain 65%. The deal likely commits Eni and OMV to contribute capex for Ruwais' future development. It's clear, from the size of the investment, that both companies see a platform for material growth at the site, and in strategic partnership with ADNOC.
Table of contents
- Evolution of the integrated platform
- What's next?
Tables and charts
This report includes 2 images and tables including:
- Middle East EBITDA-by-asset, top 20 sites
- Refinery capacity vs. production, pre- and post-deal
What's included
This report contains:
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