June 23, 2020 / 7:11 AM / 18 days ago

UAE's ADNOC to keep tight lid on cost amid market downturn, CEO says

DUBAI, June 23 (Reuters) - Abu Dhabi National Oil Company will keep a tight lid on its cost amid low oil prices and a gradual recovery in global energy demand, the company’s chief executive told Reuters.

Sultan al-Jaber also said that ADNOC will continue to work with strategic investors to attract foreign capital and focus on maximizing value from its resources.

ADNOC said on Tuesday it has signed a deal with a consortium of infrastructure investors who will invest in select ADNOC gas pipeline assets valued at $20.7 billion. (Reporting by Rania El Gamal, editing by Louise Heavens)

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