FINWIRES · TerminalLIVE
FINWIRES

^FADGI

90 stories mentioning ^FADGI

Every FINWIRES story that references ^FADGI, newest first.

Equities

Adnoc Ordered to Fast-track West-East Pipeline Project in UAE

Abu Dhabi National Oil Co., d/b/a Adnoc, was ordered to fast-track the delivery of its West-East Pipeline project in the United Arab Emirates to double its export capacity through Fujairah, according to a Friday release.The decision follows a meeting of the Adnoc board's executive committee, chaired by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, who noted the state-backed oil group's "strong progress" in delivering key growth projects and said the company is "well positioned" as a reliable global energy producer.The pipeline is set to start up in 2027.

^FADGI
Equities

Mubadala Energy-backed Catarus Raises $9.8 Billion Financing for US LNG Project

Mubadala Energy said Friday that Catarus raised $9.8 billion in project financing for a liquefied natural gas export facility in Louisiana, US, and will launch its construction.The Abu Dhabi-based company, which holds a 24.1% stake in the US exploration and production company, also provided equity in the project's financing, alongside its partners ​Kimmeridge and Canada Pension Plan Investment Board.Catarus also secured long-term offtake agreements with global energy and industrial companies, including EQT (EQT.ST), Glencore (GLEN.L, GLN.JO), Mercuria, Petronas, and Saudi Arabian Oil Co.'s (SASE:2222) Aramco Trading.The Commonwealth LNG plant will have a capacity of ​9.5 million tonnes per annum and is expected to start operations in 2030.

^FADGI$EQT.ST$GLEN.L$GLN.JOSASE:2222
Asia Markets

UAE Shares Down as Investors Weigh US-China Talks

Stock trading in the United Arab Emirates closed lower as investors closely monitored the meeting between the US and China, hoping for signs of de-escalation in the Iran war.At the close of Thursday trading, the FTSE ADX General Index ended little changed at 0.006% in the red, while the DFM General Index lost 0.413%.Dominating headlines all over the world are the bilateral talks between US President Donald Trump and his Chinese counterpart, Xi Jinping. Reuters reported, citing a White House readout, that both leaders agreed on the opening of the Strait of Hormuz and Iran not having a nuclear weapon."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran. Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz," ING said.On the oil front, global supply dropped by an additional 1.8 million barrels per day in April, bringing the total losses since February to 12.8 million barrels per day, the International Energy Agency, or IEA, said in its monthly oil market report published on Wednesday."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," IEA commented. "While demand may swing back to growth towards the end of the year if a deal to end the war is agreed that allows flows through the Strait of Hormuz to gradually resume from 3Q26, as is assumed in this Report, supply will likely be slower to recover. As a result, the oil market remains in deficit until the final quarter of the year."Closer to home and on the corporate front, Aldar Properties (ADX:ALDAR) acquired a residential-for-rent community comprising 312 homes in Dubai for 1.1 billion Emirati dirhams. Shares of the real estate closed the session 1.14% lower.Elsewhere, Dubai-listed investment companies Watania International Holding (DFM:WATANIA) and Ekttitab Holding (DFM:EKTTITAB) gained 0.65% and 0.23%, respectively, despite reporting higher attributable losses for the first quarter.

^DFMGI^FADGIADX:ALDARDFM:EKTTITABDFM:WATANIA
Equities

IEA Warns of Further Price Volatility as Middle East War Continues to Disrupt Global Oil Supply, Demand

The International Energy Agency expects to see further price volatility in 2026, with global oil inventories being depleted at a record pace since the Middle East war began in February amid the closure of the Strait of Hormuz.In its May oil market report published Wednesday, the IEA said global oil supply fell to 95.1 million barrels per day in April, while observed global inventories, including oil on water, were drawn down by 4 million barrels a day in March and April.Looking ahead, global supply is anticipated to decline by 3.9 million barrels of oil per day on average in 2026, to 102.2 million barrels per day, under the assumption that flows through the Strait of Hormuz will gradually resume from June.Meanwhile, the IEA now expects oil demand to contract by 420,000 barrels per day on an annual basis this year to 104 million barrels per day, which is 1.3 million-barrels-per-day below its projections before the war.

^DFMGI^FADGIFTSE 100^SSMI^SXXP^TASI
Asia Markets

Emirati Equities Close Mixed as US Inflation Takes Spotlight

United Arab Emirates indices failed to find direction on Wednesday as higher-than-expected US inflation data, driven by higher energy prices due to the continued closure of the Strait of Hormuz, weighed on sentiment.At the close of trading, the FTSE ADX General Index was little changed at 0.06% in the green, while the DFM General Index declined 0.41%."Tuesday saw headline US CPI inflation come in at 3.8% year-on-year for April. It was 2.4% before the war. That's a 140bp uplift, and it's not done. As it is, we're set to hit 4% in May. Core hits 3% down the line. A persistence to the war and we risk adding to that. Getting to 5% inflation is quite probable if it goes on and on. From here, we likely have another week of waiting and watching the war given the China summit distraction, with the Strait remaining shut tight," ING said.On the geopolitical front, US President Donald Trump, ahead of his visit to China, said he does not need China's assistance to end its conflict with Iran and that the war will be won "peacefully or otherwise," Reuters reported Tuesday."The Iran war is likely to be discussed between the two leaders, but we do not expect any changes in China's approach to the war. Trump goes to Beijing with few cards on the hand and to avoid a further loss of face in the war, Trump might not push for any concessions that China is unlikely to give," Danske Bank said in a note. "However, Xi will likely repeat the words by China's Foreign Minister that China is willing to play a 'greater role in restoring peace'.Zooming in at home, the corporate side of the region saw another wave of earnings reports. Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, and Abu Dhabi Ports Co. (ADX:ADPORTS), d/b/a AD Ports Group, both logged higher attributable profits for the first quarter and closed 1.32% and 0.46% in the green, respectively.In Dubai, stocks of Dubai Refreshment (DFM:DRC) closed flat, while United Foods Co. (DFM:UFC) ended 0.15% higher. Both Dubai-listed consumer goods companies recorded higher profits for the three months ended March 31.

^DFMGI^FADGIADX:ADNOCDISTADX:ADPORTSDFM:DRCDFM:UFC
Asia Markets

Abu Dhabi, Dubai Shares End Lower as Corporate Earnings Remain in Focus

Stocks in the United Arab Emirates ended lower as investors dissected the latest earnings reports from the region to assess the impact of ongoing geopolitical tensions on the companies' profits.At the close of Tuesday trading, the FTSE ADX General Index lost 0.905%, while the DFM General Index shed 0.641%.Adnoc Gas (ADX:ADNOCGAS), Lulu Retail (ADX:LULU), and Abu Dhabi Aviation (ADX:ADAVIATION) all recorded lower first-quarter attributable profits. Stocks of Adnoc Gas and Lulu Retail closed the session 2.96% and 3.30% in the red, respectively, while Abu Dhabi Aviation gained 0.58%.Over to Dubai, Deyaar Development (DFM:DEYAAR) and Talabat's (DFM:TALABAT) attributable profits for the period also dropped year over year. Deyaar Development shed 1.10%, while Talabat lost 1% at the close of trading.Conversely, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, logged a higher attributable profit for the quarter and an 8.18% year-over-year growth in revenue. Its shares closed 2.96% in the green."DEWA delivered an exceptional start to 2026, achieving its highest-ever first-quarter revenue, EBITDA, operating profit and net profit. Consolidated net profit for the first quarter increased by nearly 90% compared with the same period last year, while clean energy accounted for 18.5% of total power generated during the quarter. We had a record quarterly revenue of AED 6.45 billion, EBITDA of AED 2.88 billion, operating profit of AED 1.29 billion and net profit of AED 0.94 billion," Dewa's Chief Executive Officer Saeed Mohammed Al Tayer commented.Across the pond, US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, this week. The two leaders are expected to discuss tensions over Iran, Taiwan, nuclear weapons, and artificial intelligence."President Trump warned the ceasefire with Iran is 'on life support' after Tehran's counterproposal. Brent crude is trading around USD105/bbl this morning, extending gains from yesterday's session. Trump is reportedly meeting his national security team to consider next steps, including a possible resumption of military action and a renewed naval mission in the Strait of Hormuz. The conflict is also likely to be on the agenda when he meets President Xi Jinping this week," Danske Bank said.

^DFMGI^FADGIADX:ADAVIATIONADX:ADNOCGASADX:LULUDFM:DEWADFM:DEYAARDFM:TALABAT
Asia Markets

UAE Stocks in Red as US Rejects Iran's Response to Peace Plan

Markets in the United Arab Emirates closed lower on Monday as the FTSE ADX General Index fell 0.526%, while the DFM General Index declined 1.39%.Oil prices climbed after US President Donald Trump said in a social media post that he did not like Iran's response to the US peace proposal and deemed it "totally unacceptable." According to reports, Iran's counterproposal included compensation for war damages, full sovereignty over the Strait of Hormuz, and lifting of all sanctions, among others."While optimism for an imminent deal is fading, there remains a glimmer of hope that talks between Trump and Chinese President Xi later this week could yield positive results on Iran. The hope is that China can use its influence over Iran to push it closer towards a peace deal. Clearly, this is easier said than done," ING said.As of 3:43 pm UAE time, the Brent crude oil futures stood at nearly $103.92 per barrel, up 2.60% from the previous day.On the economic front, the US Bureau of Labor Statistics will release the consumer price index report for April on Tuesday, with analysts expecting a 0.5% monthly and a 3.6% annual increase in headline inflation. Core CPI is expected to increase to 0.3% monthly and 2.6% on an annual basis.Back home and on the corporate front, Adnoc Drilling (ADX:ADNOCDRILL) recorded a 5% year-over-year growth in revenue for the first quarter, supported by increased oilfield services and offshore segment activities. Shares of the offshore drilling company closed the session 0.32% in the red.Emaar Development (DFM:EMAARDEV) and Emaar Properties (DFM:EMAAR) shed 2.11% and 1.78%, respectively, despite recording higher attributable profits. Salik (DFM:SALIK), on the other hand, lost 1.71% after its attributable profit and revenue for the period declined year over year.

^DFMGI^FADGIADX:ADNOCDRILLDFM:EMAARDFM:EMAARDEVDFM:SALIK
Asia Markets

Emirati Stocks End Week Downbeat as Fresh US-Iran Attacks Weigh on Market Sentiment

Markets in the United Arab Emirates ended Friday's trading session in negative territory as investors turned cautious amid renewed attacks between the US and Iran.At the close of trading, the FTSE ADX General Index fell 0.370%, while the DFM General Index was 0.50% in the red.Iran attacked three US warships in the Strait of Hormuz, and the US Central Command retaliated with attacks on Iranian military facilities involved in the strikes, diminishing markets' hopes for a peace deal and a stable ceasefire.The exchange of attacks follows reports that Iran is reviewing a US proposal and is expected to respond through Pakistan. US President Donald Trump also said in a social media post on Friday that the US will knock Iran "a lot harder, and a lot more violently" if a deal is not signed."Market optimism is fading again, after some military skirmishes in the Strait of Hormuz and the US restarting its escorting programme. There is still some hope that a deal will be agreed before the 14-15 May US-China summit, but risks are clearly very binary for USD crosses at this stage," ING said. "If this proves to be another episode of misplaced optimism on a US-Iran deal, not only does the dollar have plenty of upside room to recover, but there's a good chance investors will prove more cautious and won't jump as aggressively into de-escalation trades without concrete progress in negotiations."Closer to home, the UAE's Ministry of Defence said in a Friday statement that the country's air defense systems engaged two ballistic missiles and three unmanned aerial vehicles from Iran.On the corporate side, Emirates Driving Co. (ADX:DRIVE) rebranded to Emirates Mobility Co. as part of its strategic transformation into an integrated mobility ecosystem. Shares of the driving school operator closed the session 1.59% lower.Over in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU), d/b/a du, closed 3.13% in the green. The telecommunications company appointed BHM Capital Financial Services (DFM:BHMCAPITAL), whose shares closed the session flat, as its liquidity provider.

^DFMGI^FADGIADX:DRIVEDFM:BHMCAPITALDFM:DU
Equities

Adnoc Joins UAE's AED1 Billion Industrial Resilience Fund

Abu Dhabi National Oil Co., or Adnoc, joined the United Arab Emirates' 1 billion-Emirati-dirham National Industrial Resilience Fund.Managed by Emirates Development Bank, the fund aims to strengthen industrial value chains across multiple sectors, according to a Friday release.Under the agreement, the Industry Ministry will identify projects, the bank will provide financing, and Adnoc will support supplier localization and demand through long-term contracts.

^FADGI
Equities

Adnoc Tankers Shut Signals to Cross Hormuz

Abu Dhabi National Oil Co., or Adnoc, LNG tankers reportedly switched off signals to cross the Strait of Hormuz.Bloomberg News reported Thursday, citing analysis of vessel-tracking data and sources, that at least two Adnoc tankers crossed the strait by going dark.Adnoc did not immediately respond to a request for comment from.

^FADGI
Asia Markets

UAE Indices Gain Amid Corporate Earnings Buzz

Stock trading in the United Arab Emirates closed higher as investors digested a fresh batch of corporate earnings from the region.At the close of Thursday trading, the FTSE ADX General Index was little changed at 0.016% in the green, while the DFM General Index was up 0.567%.The Emirati bourses saw the release of first-quarter earnings reports from companies operating across various industries, such as International Holding Co. (ADX:IHC), d/b/a IHC, Bank of Sharjah (ADX:BOS), Burjeel Holdings (ADX:BURJEEL), and Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower.IHC declined 0.49% despite a 33.2% year-over-year growth in revenue. Bank of Sharjah delivered a record performance for the quarter, backed by growth in net interest income and solid credit risk management, but closed the session 1.55% in the red.Meanwhile, Burjeel Holdings and Emirates Central Cooling Systems both reported higher attributable profits and revenue and ended flat and 7.19% higher, respectively.The UAE and Japan agreed to hold ministerial talks on expanding joint crude oil stockpiles in the country and increasing UAE crude supplies, Reuters reported, citing the Japanese industry ministry.On the geopolitical front, Iran said it was reviewing a US proposal and will respond through Pakistani mediators. US President Donald Trump also said in a social media post that a deal will open the Strait of Hormuz for everyone, including Iran, and that the latter will face attacks at a "much higher level and intensity" if an agreement is not reached."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices. However, the physical market does not run on political timelines. Even under an optimistic scenario involving a 30-day phased reopening of the Strait of Hormuz, meaningful volume recovery would happen in June at the earliest, with processing port arrivals lagging by an additional four to six weeks after that," Rystad Energy's Chief Oil Analyst Paola Rodriguez-Masiu commented. "Global markets should not mistake a ceasefire headline for a supply headline."

^DFMGI^FADGIADX:BOSADX:BURJEELADX:IHCDFM:EMPOWER
US Markets

Italy's UniCredit Set to Divest Part of Russian Unit to UAE Investor

UniCredit (UCG.MI) reached a nonbinding deal to sell part of its Russian subsidiary to a "well-established private investor" in the United Arab Emirates, as part of plans to refocus its operations in Russia around international payments.Under the terms of the potential transaction, the Italian banking group intends to spin off part of AO Bank's activities into a new separate entity, which UniCredit would fully own, according to a Thursday release. Meanwhile, the remaining operations would be sold to the unspecified buyer, who has "long standing ties to the local institutional and business community" in the UAE.UniCredit expects the divestment to result in a cumulative negative impact of between 3 billion euros and 3.3 billion euros on its net income. However, the bank noted that this will not affect its shareholder distribution or its net profit targets for the 2028 to 2030 period.The group added that the deal is anticipated to boost its overall capital position with a 35 basis-point improvement."The transition has been structured and shall be executed to ensure continuity and stability for clients and employees. Customers utilizing UniCredit's payment solutions to and from Russia will maintain access to the current set of operations throughout the process," the group said.UniCredit noted that both parties will work together to finalize the structure of the planned divestment. The deal is expected to close in the first half of 2027, subject to both parties reaching a binding agreement, the implementation of the spin-off of part of AO Bank's activities, and relevant regulatory approvals.

^DFMGI^FADGI$UCG.MI
Japan

UAE Shares Gain as US-Iran Deal Hopes Lift Sentiment

Emirati shares ended Wednesday's trading session in the green, buoyed by increasing hopes that the US and Iran are close to making a deal.At the close of trading, the FTSE ADX General Index gained 0.855%, while the DFM General Index added 2.956%."Oil prices are under renewed pressure as the ceasefire between the US and Iran appears to be holding despite recent escalation in the Persian Gulf. Meanwhile, the market sold off further in early morning trading today after President Trump paused 'Project Freedom' as the US seeks a deal to end the war with Iran. Trump said 'great progress' has been made towards a 'complete and final agreement'," ING said.Reuters also reported, citing a Pakistani source, that the US and Iran are closing in on a one-page memorandum to end the war. The latest developments eased oil supply concerns and led to a decline in prices as Brent crude oil futures stood at nearly $97.82 per barrel at 3:06 pm UAE time, down 10.97% from the previous day.Back home and on the corporate front, shares of Dana Gas (ADX:DANA) closed 2.49% higher as it partnered with British advanced materials company Levidian to establish the Sharjah Graphene Park to boost the supply of high-quality graphene regionally.Elsewhere, Emirates Central Cooling Systems (DFM:EMPOWER), resumed trading on the Dubai bourse following a temporary suspension due to its board meeting. Shares of the cooling services company closed flat when it last traded on Tuesday.

^DFMGI^FADGIADX:DANADFM:EMPOWER
Equities

Market Chatter: Adnoc Reportedly Completes Second LNG Shipment through Strait of Hormuz

UAE's Abu Dhabi National Oil Co., or Adnoc, completed its second liquefied natural gas shipment through the Strait of Hormuz, Bloomberg News reported Wednesday, citing ship-tracking data.The state-owned oil group's Mraweh tanker reportedly brought the fuel through the strait, which has been largely affected by the Middle East conflict since the end of February. The tanker was last seen loaded with cargo near northern Indonesia on Wednesday.Adnoc did not immediately respond to requests for comment from.(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.)

^FADGI
Asia Markets

Abu Dhabi, Dubai Shares Slide as Non-oil Private Sector Growth Slows

Markets in the United Arab Emirates closed lower on Tuesday as investors assessed the latest data from the country's non-oil private sector.At the close of trading, the FTSE ADX General Index shed 0.303%, while the DFM General Index lost 0.879%.The S&P Global UAE PMI declined to 52.1 in April from 52.9 in the prior month, marking the softest improvement in operating conditions since February 2021. New order growth for non-oil businesses and export orders slowed down amid the ongoing conflict in the Middle East, while overall input costs rose the sharpest since July 2024."The UAE non-oil private sector signalled a further loss of momentum in April, with operating conditions showing their weakest performance for more than five years. Heavy restrictions on key shipment routes resulted in a marked drop in exports, while rising cost pressures placed businesses under additional strain," S&P Global Market Intelligence senior economist David Owen said. "The subsequent uplift in selling prices - the fastest in nearly 15 years according to the survey data - underlined the growing inflation risks to the non-oil sector."On the geopolitical front, the UAE reported new missile and drone attacks leading to a fire at the Fujairah Oil ​Industry Zone. The Ministry of Defence also confirmed in a Monday statement that a total of 12 ballistic missiles, three cruise missiles, and four unmanned aerial vehicles were engaged by the country's air defense systems.Over to corporates, Alpha Dhabi Holding (ADX:ALPHADHABI) reported a higher attributable profit and an 8% year-on-year growth in revenue. Shares of the investment holding company closed the session 0.68% lower.Meanwhile, in Dubai, Ekttitab Holding (DFM:EKTTITAB) secured the Kuwaiti Capital Markets Authority's approval to reduce its capital to fully offset its accumulated losses. The investment company's stocks were 4.04% in green at trading's close.

^DFMGI^FADGIADX:ALPHADHABIDFM:EKTTITAB
International

S&P: UAE Non-oil Private Sector Growth Softens in April

The United Arab Emirates' non-oil private sector expanded at a slightly slower pace in April as rising costs and supply disruptions triggered by the ongoing Middle East conflict continue to compress margins and push up selling prices.The S&P Global UAE PMI fell for a second straight month to 52.1 from 52.9 previously, S&P Global said Tuesday. The reading indicated the softest improvement in operating conditions since February 2021.

^DFMGI^FADGI
Asia Markets

Emirati Equities Gain Amid Key Economic Data Focus; Adnoc Drilling Soars

Shares in the United Arab Emirates kicked off the week higher as the FTSE ADX General Index added 0.320%, while the DFM General Index gained 0.226% at the close of Monday trading.Investors will await the release of the UAE's S&P Global PMI data for April on Tuesday to get insights into the country's non-oil private sector activity. The metric dropped to 52.9 in March from 55 in February.On the oil front, OPEC+ agreed to raise oil output in June by 188,000 barrels per day following the UAE's exit from the group and amid supply disruptions caused by the continued closure of the Strait of Hormuz."The exit of OPEC's third-largest producer substantially weakens the organisation and raises questions over its survival as an effective cartel. As the UAE increases output outside OPEC, the group's share of global supply will decline, reducing its ability to manage prices. If the UAE successfully raises output and revenue outside the cartel, it could also undermine the value of membership for other producers with large reserves or ambitions to raise output, such as Venezuela," Oxford Economics said in a note.On the corporate side, Adnoc Drilling (ADX:ADNOCDRILL) was the Abu Dhabi bourse's most traded by value and closed the session at 9.17% in the green. The offshore drilling company concluded the purchase of an 80% stake in the drilling and oilfield services joint venture MB Petroleum Services.Dubai-listed Parkin Co. (DFM:PARKIN) secured a multi-year parking enforcement services deal from Emaar Properties (DFM:EMAAR) unit Emaar Mall Management. Parkin's stocks ended 1.54% lower while Emaar Properties closed the session 1.70% higher.On the geopolitical front, US President Donald Trump launched "Project Freedom" to guide ships and crews safely out of the Strait of Hormuz, while also adding that his representatives are having "very positive" discussions with Iran."After a volatile week, the oil market is steadier as the market digests President Trump's plan to get vessels through the Strait of Hormuz," ING said. "Reports indicate that, for now, the plan won't involve the US Navy escorting vessels. Even if this allows vessels to leave the Persian Gulf, we're likely to see little inbound traffic. This would only amount to temporary relief, as floating storage leaves the Persian Gulf.

^DFMGI^FADGIADX:ADNOCDRILLDFM:EMAARDFM:PARKIN
US Markets

Adnoc to Award AED200 Billion in Contracts Until 2028 in Post-OPEC Expansion Drive

State-owned Abu Dhabi National Oil Co., or Adnoc, is looking to spend 200 billion Emirati dirhams in projects for 2026 to 2028, now that the United Arab Emirates' exit from the Organization of the Petroleum Exporting Countries has created room to accelerate investment.Adnoc laid out its plans at a forum with contractors and local manufacturers on Sunday, two days after the UAE officially left OPEC and OPEC+. Some members of the expanded group, including Saudi Arabia and Russia, announced the same day that they would boost production in June by 188,000 barrels of oil per day.The planned project awards form a part of the oil group's five-year capital expenditure plan approved last year and are intended to boost production capacity to meet rising global energy demand.Speaking at another forum held Monday, Sultan Al Jaber, the UAE's minister of industry and advanced technology and Adnoc's managing director and group chief executive officer, said the country's departure from OPEC is part of a broader vision to reshape its economy and not a decision directed ​against anyone."It serves our national interests and long-term strategic objectives, aligns with our industrial, economic, and developmental ambitions, and gives us greater ability to accelerate investment, expand, and create value," Bloomberg reported Al Jaber as saying.

^FADGI
Equities

Update: Market Chatter: Repsol to Sell 49% Stake in Spanish Renewables Portfolio to Masdar

(Updates to add Repsol's statement)Repsol (REP.MC) will sell a 49% interest in a 706-megawatt portfolio of renewable energy assets in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, Spanish newspaper Cinco Días reported Monday, citing unnamed sources.The Spanish oil and gas company expects to sign the agreement with the renewable energy company in the coming weeks, according to the report.The portfolio, dubbed the Minerva project, is valued at 850 million euros and comprises 13 wind farms and six solar parks.Repsol toldit has no comment on Cinco Días' report.(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.)

^FADGI$REP.MC
Equities

Market Chatter: Repsol to Sell 49% Stake in Spanish Renewables Portfolio to Masdar

Repsol (REP.MC) will sell a 49% interest in a 706-megawatt portfolio of renewable energy assets in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, Spanish newspaper Cinco Días reported Monday, citing unnamed sources.The Spanish oil and gas company expects to sign the agreement with the renewable energy company in the coming weeks, according to the report.The portfolio, dubbed the Minerva project, is valued at 850 million euros and comprises 13 wind farms and six solar parks.Repsol did not immediately respond to a request for comment from.(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.)

^FADGI$REP.MC

Showing 41-60 of 90