ADNOC Executive Emphasizes Gas-Centric Strategy, Eyes Egypt Market Potential
(Reuters) — A top executive of state-owned Abu Dhabi National Oil Company (ADNOC) on Monday said the company's strategy was anchored around gas output and that Egypt has been identified as a market with a lot of potential.
Musabbeh Al Kaabi, ADNOC's executive director for low-carbon solutions and international growth, made his remarks at an energy conference in Cairo.
ADNOC, the UAE's oil giant, has an international growth strategy that is focused on gas, LNG, petrochemicals and renewables.
ADNOC last week said it would form a joint venture with global oil major BPBP.L in Egypt, focusing initially on natural gas.
ADNOC is seeking to grow its gas business domestically and abroad and has called natural gas a transition fuel to renewable energy sources. BP aims to reduce its oil and gas output by 25% by 2030 from 2019 levels but continues to invest heavily in fossil fuels.
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
Comments