ADNOC Weighs IPO of Logistics and Services Unit Next Year, Sources Say

Gulf oil producers are looking at sales of stakes in energy assets, capitalizing on a rebound in crude prices to attract foreign investors.

Hadeel Al Sayegh, Reuters

State oil firm Abu Dhabi National Oil Co. (ADNOC) is weighing an initial public offering (IPO) of its marine services, logistics and shipping arm next year, two sources familiar with the matter told Reuters.

ADNOC Logistics & Services (ADNOC L&S) has been selected for a potential float in Abu Dhabi in 2022, said the sources, declining to be named as the matter is not public.

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