September 2019, Vol. 246, No. 9

Global News

UAE’s ADNOC Pipeline Investment Deal Reaches Nearly $5 Billion

Singapore’s sovereign wealth fund (GIC) is investing $600 million in Abu Dhabi National Oil Company’s (ADNOC) crude pipeline infrastructure, raising total outside investment in the newly formed ADNOC Oil Pipelines to $4.9 billion. The GIC deal follows a combined investment of $4 billion by BlackRock and KKR and an additional $300 million by the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). In exchange for the nearly $5 billion investments, ADNOC is leasing 750 kilometers (465 miles) across 18 of its pipelines over a 23-year period. The combined portion of pipelines being leased move more than 13 MMbpd of crude. ADNOC Oil Pipelines will retain ownership and management of the pipel

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