UAE Oil Giant Reportedly In Talks to Acquire Gunvor Trading ...Middle East

The UAE’s state-run oil giant is reportedly considering a full or partial acquisition of Gunvor Group commodity trading house, both Bloomberg and Reuters report, citing unnamed sources. The UAE’s Abu Dhabi National Oil Co (ADNOC) has already undergone early-stage talks about buying the commodities house, according to Bloomberg, to merge Adnoc’s trading arm with Gunvor. Reuters likewise cites an unnamed source as saying that talks have been held for the acquisition of Gunvor Group or a stake in the trading house. Neither ADNOC…

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