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New oil firm set up by Abu Dhabi

: Tuesday, April 29 - 2014 @ 00:07

The government of Abu Dhabi has decided to set up a new firm for petroleum operations, Wam has reported. According to the decision, 60% of Al Yasat Company for Petroleum Operations LLC is owned by the Abu Dhabi National Oil Co (Adnoc), while CNBC International Hong Kong owns the rest. Al Yasat will carry out the development of onshore and offshore areas in the emirate approved by the Supreme Petroleum Council.

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Tuesday, April 29- 2014 @ 0:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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