ADNOC Completes Acquisition of Austrian Company Shares

The Abu Dhabi National Oil Company (ADNOC) announced in a statement today, Thursday, that it has completed the acquisition of a 24.9% stake in the Austrian company "OMV" from the Mubadala Investment Company. ADNOC stated in the announcement: "This deal contributes to accelerating ADNOC's strategy for global expansion in the chemicals sector and solidifies its position as a responsible and long-term partner and investor focused on achieving growth." ADNOC is showcasing its strength and competing with global oil companies and Gulf rivals in its pursuit of acquiring energy assets outside the United Arab Emirates.