BP takeover speculation heats up as UAE oil giant ADNOC enters the fray for gas assets https://t.co/Gric32mXdh
BP takeover speculation heats up as UAE oil giant ADNOC enters the fray for gas assets @CNBC https://t.co/yVEhwQm84D
Adnoc's XRG Mulls M&A Deals, Santos in Focus Adnoc is also reportedly considering acquiring BP's LNG and gas assets via XRG. https://t.co/gs0FuZaM02
Abu Dhabi National Oil Company (ADNOC) is evaluating the possibility of acquiring key assets from British Petroleum (BP), including upstream, downstream, liquefied natural gas (LNG), and gas portfolios. This consideration comes amid speculation that BP may break itself up or face pressure to divest more units. BP’s portfolios are heavily weighted toward the US, which is a strategic factor for potential buyers. ADNOC's subsidiary, XRG, is reportedly involved in assessing mergers and acquisitions, with a focus on BP's LNG and gas assets. The prospect of ADNOC entering the market for BP's assets has intensified takeover speculation.
