November 14, 2018 / 9:33 AM / 8 months ago

ADNOC, Mubadala sign framework agreement to explore downstream investments

ABU DHABI, Nov 14 (Reuters) - Abu Dhabi’s ADNOC and Mubadala Investment Company on Wednesday signed a framework agreement to explore potential investment opportunities in downstream.

As part of the agreement the firms will explore the potential for processing crude oil and other hydrocarbons supplied by ADNOC as well as utilising technologies owned by Mubadala with product offtake by other ADNOC companies, a statement by ADNOC said.

ADNOC CEO Sultan al-Jaber told Reuters earlier the firm would seek investment opportunities abroad in liquefied natural gas. (Reporting by Asma AlSharif; writing by Maha El Dahan; editing by Jason Neely)

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