Abu Dhabi state firm Adnoc announced on 8 December that its second trading subsidiary, Adnoc Global Trading (AGT), has begun trading refined products worldwide. The launch follows the start of crude oil derivatives trading by its Adnoc Trading (AT) subsidiary.
AGT is a JV between Adnoc (65%), Eni (20%) and OMV (15%), and will trade products from Adnoc Refining’s 922,000 b/d fleet of refineries. The shareholdings in Adnoc Refining and AGT are identical. (CONTINUED - 322 WORDS)