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17 October, 2017

Abu Dhabi's oil company ADNOC considering IPO in some services -CEO

A worker injects a car with fuel at an ADNOC petrol station in Abu Dhabi, United Arab Emirates July 10, 2017. Image for illustrative purpose.

A worker injects a car with fuel at an ADNOC petrol station in Abu Dhabi, United Arab Emirates July 10, 2017. Image for illustrative purpose.

REUTERS/Stringer

Strategic partnerships are key to optimising our entire value chain and growing market share, says Sultan Ahmed Al Jaber


LONDON- Abu Dhabi National Oil Co (ADNOC) is considering an initial public offering of minority stakes in some of its services, its chief executive Sultan Ahmed Al Jaber said on Tuesday.

"Strategic partnerships are key to optimising our entire value chain and growing market share," he said at the Oil and Money conference in London.

"We are considering potentially an IPO of minority stakes in our services ... ADNOC will remain wholly owned by one single shareholder, the Abu Dhabi government." (Reporting by Julia Payne and Ron Bousso; Editing by Dale Hudson)

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