Adnoc and BP have made a joint offer to buy a 50 per cent stake in Israel-based NewMed Energy.
The non-binding offer would see the company effectively taken private.
Adnoc said the move is part of plans to establish a joint venture with BP with a focus on gas development.
The two companies intend to explore a range of mechanisms for the formation and potential further expansion of their new partnership.
Buying the NewMed stake would be a "significant first step in this direction", added Adnoc.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
The UAE's Federal National Council (FNC) has proposed the creation of a Euro-Mediterranean and Gulf artificial intelligence hub to boost investment, research and cooperation in one of the world's fastest-growing sectors.
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Federal National Council Speaker Saqr Ghobash has called for closer economic and parliamentary cooperation between Euro-Mediterranean and Gulf countries to help address rapid technological and economic change and support sustainable development.
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
The Dubai Gold and Commodities Exchange (DGCX) is set to launch a new same-day gold trading contract on Monday, June 22, in a move aimed at making physical gold transactions faster and more efficient.
AD Ports launches new logistics link between UAE and Iraq
AD Ports Group has launched integrated logistics services connecting Khalifa Port with Umm Qasr Port in Iraq, reinforcing commitment to enhancing regional connectivity and supporting existing trade corridors.
Kuwait plans to boost oil output to 2 million bpd in a week
Kuwait Petroleum Corporation (KPC) has plans to raise the country's oil production to two million barrels per day (bpd) within a week, amid the reopening of the Strait of Hormuz under a US-Iran peace agreement, said KPC's Deputy Chairman and CEO, Sheikh Nawaf Saud Al-Sabah.
In a post to mark Father's Day, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said we remain a reflection of their contributions long after they are gone.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has marked Father's Day by posting a beautiful photography from his childhood, paying special tribute to Founding Father, the late Sheikh Zayed, and saluting "every father who follows in his footsteps".
Four people were killed and 55 more injured in traffic accidents caused by drivers jumping red lights in Dubai since the start of 2026.
