ADNOC Refining welcomes Eni and OMV

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30 January 2019

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:

  • Document

    ADNOC Refining welcomes Eni and OMV

    PDF 768.55 KB