Abu Dhabi’s national oil company ADNOC continues to expand its global footprint in both upstream and downstream sectors. ADNOC Logistics and Services (L&S) announced the completion of a $1.08 billion acquisition of an 80% stake in UK-based product tanker operator Navig8. This acquisition gives ADNOC L&S control of a modern fleet of 32 tankers and expands its portfolio to include commercial pooling and bunkering services. Additionally, ADNOC L&S revealed that it will acquire the remaining 20% of Navig8 by mid-2027 for a deferred…
