ADNOC Eyes BP Assets

This is a BP news story, published by CNBC, that relates primarily to Bloomberg news.

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Abu Dhabi National Oil Company

CNBC

•

Business

Business & Economics

BP takeover speculation heats up as UAE oil giant ADNOC enters the fray for gas assets

Summary

Nutrition label

83% Informative

Abu Dhabi National Oil Company is thought to be weighing up a move for some of BP 's assets.

ADNOC is reportedly most interested in BP 's liquefied natural gas assets, according to Bloomberg .

British rival Shell , as well as U.S. oil giants Exxon Mobil and Chevron , have been touted as possible suitors.

BP is seeking to fend off a prospective takeover by restoring investor confidence.

"BP is under pressure to deliver on its goal to reduce debt, through improved organic cash flow and asset disposals," Mould told CNBC . "ADNOC will be well aware of this, and how the clock may be ticking so far as BP management is concerned, and it will therefore look to drive a hard bargain in the process, should it indeed be interested in some of BP 's assets, as reports suggest," he added..

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful