Adnoc Logistics is in talks to acquire a stake in HEA at a $3 billion valuation. The deal would bolster the U.A.E.’s footprint in offshore oil and gas services. This comes months after the country quit OPEC and vowed to aggressively scale up production.
The potential acquisition highlights the U.A.E.'s strategic shift toward expanding its presence in the global energy sector following its departure from the oil cartel.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing