ADNOC Expands Global Operations with Navig8 Acquisition and Financing

📆 1/8/2025 5:12 PM
📰 OilandEnergy

⏱ Reading Time:
26 sec. here
10 min. at publisher
📊 Quality Score:
News: 42%
Publisher: 68%

Business News

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ADNOC's XRG Hits the Market with British JV in EgyptAbu Dhabi's financially backed group XRG and British oil and gas major BP have closed a deal to set up a new natural gas joint venture in Egypt
Source: OilandEnergy - 🏆 34. / 68 Read more »