By: Amr Adel

Abu Dhabi - Mubasher: The spokesperson of the Abu Dhabi National Oil Company (ADNOC) said that listing some of its subsidiaries in the capital market, by offering some minority stakes, is still under study.

More information will soon be revealed, the spokesperson told Mubasher on Wednesday.

The company’s CEO, Sultan Ahmed Al Jaber, recently said that ADNOC was planning to list several minority stakes in a number of its subsidiaries in the UAE’s stock markets to support growth and expansion in the private sector.

He also noted that ADNOC is considering merging its marine services units by the end of 2017, in an attempt to reduce operating and production costs, adding that the merger was likely to result in major financial and operational gains for the mother company as well as contribute to boosting efficiency and flexibility and to dealing with the market’s ever-changing needs.

Translated by: Moslem Ali