BlackRock and KKR & Co. are in talks to acquire a $4 billion to $5 billion stake in Abu Dhabi National Oil Co.’s (ADNOC) pipeline network, according to the Financial Times.
State-owned ADNOC produces more than 3 million barrels per day of oil, approximately 3 percent of global production, making it one of the world’s largest energy groups.
ADNOC was looking to sell a stake in its multibillion-dollar pipeline infrastructure assets, Reuters had reported in early October.
