ADNOC Expands Global Operations with Navig8 Acquisition and Financing

📆 8/01/2025 12:12 p. m.

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ADNOC,OIL,ACQUISITION

Abu Dhabi National Oil Company (ADNOC) continues to grow its international presence through ADNOC Logistics and Services (ADNOC L&S). ADNOC L&S completed a $1.08 billion acquisition of an 80% stake in UK-based Navig8, a product tanker operator, gaining control of a 32-tanker fleet and expanding into commercial pooling and bunkering services. ADNOC L&S plans to acquire the remaining 20% of Navig8 by mid-2027. The company also secured $2 billion in financing to support its growth, including a $1.1 billion Hybrid Capital Instrument. Meanwhile, ADNOC Drilling pursues international projects and aims to leverage ADNOC's global expansion for drilling contract pre-qualification.

Abu Dhabi's national oil company

L&S control of a modern fleet of 32 tankers and expands its portfolio to include commercial pooling and bunkering services. Additionally, L&S has committed over $5 billion to investments, with its share price surging by over 175%. The HCI was arranged by Socit Gnrale, with participation from several major banks. Navig8, with its fleet and operations across five continents, strengthens

's international expansion to accelerate pre-qualification processes for drilling contracts.

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