Abu Dhabi National Oil Company (ADNOC) has created a new entity that will sell the first bond of the United Arab Emirates' oil producer as the OPEC member looks to diversify its income away from oil. ADNOC will be the latest national oil company in the Middle East to look to tap into the bond market, after Saudi Aramco and QatarEnergy.
In June last year, Saudi Aramco raised $6 billion via its first Islamic bond denominated in U.S. dollars, orders for which exceeded $60 billion. Later in the same month, QatarEnergy, formerly Qatar Petroleum, raised…Saudi Arabia’s Gas Production Hits Record-High
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