ADNOC in Talks to Acquire Stake in Eni's Libya Assets

Key Facts

1ADNOC's XRG unit is in discussions to acquire a stake in Italian firm Eni's oil and gas operations in Libya.

ADNOC's XRG unit is in discussions to acquire a stake in Italian firm Eni's oil and gas operations in Libya. Reuters reported that the negotiations involve the purchase of a minority stake in Eni's upstream portfolio, marking a significant step in the UAE firm's international growth.

The move aligns with ADNOC's broader strategy for international expansion, while Eni continues its model of divesting stakes in mature or developing assets to fund new projects. No confirmed valuation has been disclosed for the potential transaction involving these energy assets.