UAE oil giant ADNOC has joined the fray of firms said to be circling some of BP
’s highly prized assets, as takeover speculation for the embattled energy major kicks into overdrive.
Abu Dhabi National Oil Company is thought to be weighing up a move for some of the London-listed firm’s assets, should the oil major break up or seek to divest more units, Bloomberg reported Wednesday, citing unnamed sources familiar with the matter.
ADNOC is reportedly most interested in BP’s liquefied natural gas (LNG) assets, although it is also said to have considered a full takeover of the company. It is understood by Bloomberg that any prospective deal would likely take place via ADNOC’s international unit, XRG.
Spokespeople at BP, ADNOC and XRG declined to comment on the speculation when contacted by CNBC.
