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's economy leads growth in Gulf region in 2025: IMF
The Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), on Monday, said the UAE economy posted the best performance among GCC countries in 2025.
Nakheel awards contract for Palm Crown development on Palm Jumeirah
Nakheel, a member of Dubai Holding Real Estate, has awarded a AED400 million contract to Shapoorji Pallonji Mideast for the construction of 38 Crown Garden Villas, an exclusive collection of grand residences at Palm Crown on Palm Jumeirah.
DP World to develop strategic border facilities in Afghanistan
DP World has signed a landmark agreement with Afghanistan to develop and operate the country’s most important land border facilities at Torkham and Hairatan.
Maktoum bin Mohammed chairs DREC Board meeting
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Dubai Real Estate Corporation (DREC), chaired a meeting of the DREC Board of Directors, during which he reviewed the 2025 performance of Wasl Group.
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