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Market Chatter: UAE's Adnoc Eyes Upstream, LNG Investment Opportunities in Canada

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The Abu Dhabi National Oil, also known as Adnoc, is looking for opportunities in Canada's upstream and liquefied natural gas sectors via its international arm, XRG, according to a Reuters report citing Musabbeh Al Kaabi, the company's CEO of upstream operations.

Speaking at the Global Energy Show in Calgary on Tuesday, Al Kaabi said that he was encouraged by Ottawa's renewed focus on energy development, without specifying actual figures.

This comes as the UAE increasingly pursues energy investments overseas, while Canada looks to diversify its main export markets amid tariff threats from US President Donald Trump.

Late last year, Canadian Prime Minister Mark Carney made an official visit to the UAE, which, according to Al Kaabi, "set the tone for more collaboration in the near future."

Neither Adnoc nor the Canadian Ministry for Energy and Natural Resources immediately responded to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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