Adnoc and BP have made a joint offer to buy a 50 per cent stake in Israel-based NewMed Energy.
The non-binding offer would see the company effectively taken private.
Adnoc said the move is part of plans to establish a joint venture with BP with a focus on gas development.
The two companies intend to explore a range of mechanisms for the formation and potential further expansion of their new partnership.
Buying the NewMed stake would be a "significant first step in this direction", added Adnoc.
UAE Central Bank gold reserves rise 26% in five months
The Central Bank of the United Arab Emirates (CBUAE) increased its gold reserves by 25.899 per cent during the first five months of the year to AED 28.933 billion at the end of May, up from AED 22.981 billion at the end of December 2024.
Italian fashion house Valentino hires Riccardo Bellini as CEO
Italian fashion house Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Wednesday, adding he will take up the role at the start of September.
Putin, Modi to meet in Delhi by end of year, Russian embassy official says
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will meet in New Delhi by the end of year, but no dates have been finalised yet, a Russian embassy official in India said on Wednesday.
India, China agree to resume direct flights, boost business links
India and China agreed on Tuesday to resume direct flights and step up trade and investment flows as the neighbours rebuild ties damaged by a 2020 border clash.
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