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.
Business leaders affirm strength of Dubai's diversified economic model
Leaders of Business Groups operating under the Dubai Chamber of Commerce say the emirate continues to build on a strong and resilient economic model, driven by diversification, close public-private sector collaboration, and the ability to respond quickly to global change.
WTO advances world’s first digital trade rules despite opposition
A group of World Trade Organisation members agreed on Saturday to sidestep adoption hurdles for the world's first baseline on digital trade rules, opting to bring the agreement into force among consenting participants, the WTO said.
Abu Dhabi boosts transparency, governance in real estate sector
Abu Dhabi’s Department of Municipalities and Transport has issued a package of administrative decisions to strengthen transparency, governance and investor protection across the real estate sector.
Dr. Sultan Al Jaber dedicates leadership award to UAE President, frontline workers
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Executive Chairman of XRG, has received the 2026 Distinguished Global Leadership Award from the Washington D.C.-based Middle East Institute (MEI).
Dubai achieves highest-ever ranking in Global Financial Centres Index
Dubai has achieved its highest ever ranking in the Global Financial Centres Index (GFCI), climbing to seventh place, underscoring the emirate’s rise as one of the world's most influential financial hubs and its importance in the global financial system.
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, strongly condemned attacks on civilian infrastructure in the region, including schools, hospitals, universities, desalination plants, energy facilities, transport hubs and residential areas.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a virtual meeting with US Senator Joni Ernst to discuss UAE–US strategic cooperation and their shared commitment to strengthening ties.
A cabinet meeting, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday approved a series of national strategies and international agreements, to strengthen the country's resilience and global position.
