ADNOC acquired a minority stake in VTTI.

The Abu Dhabi National Oil Company, the state-owned oil company of the United Arab Emirates, acquired a 10% minority stake in VTTI, a fast-growing independent provider of energy storage worldwide. Financial terms were not disclosed. H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “We are delighted to be entering into this strategic investment opportunity in VTTI, alongside Vitol and IFM GIF, which will further complement the development of ADNOC’s integrated global trading platform while also delivering a solid financial return. VTTI’s diverse portfolio of storage assets across key target markets such as Asia, Africa and Europe, provides us with direct access to our customers around the world, a key building block to accelerating ADNOC’s transformation into a more integrated and commercially-minded global energy player.”