Reuters exclusively reports Abu Dhabi oil giant ADNOC considers IPO of drilling business

Reuters exclusively reported that Abu Dhabi National Oil Company (ADNOC) is considering listing its drilling business on the local stock market, according to three sources familiar with the matter. The oil giant, which supplies nearly 3% of global oil demand, wants the deal to happen this year, according to two of the sources. One of them said discussions were at an early stage, but the IPO size could be more than $1 billion.