ADNOC Distribution to Acquire Shell Downstream South Africa

ENEOS to Acquire Chevron’s Downstream Refining, Marketing and Retail Assets in Southeast Asia and Australia

May 14, 2026

Oil & Gas

ENEOS Holdings, via a newly established special purpose vehicle, has entered into share purchase agreements with indirect Chevron subsidiaries to acquire Chevron’s interests in downstream refining, marketing and retail assets across Southeast Asia-Pacific and Australia for $2.17 billion. The portfolio includes Chevron’s stake in Singapore’s Jurong Island refinery (Singapore Refining Co.), along with Caltex-branded retail and lubricants businesses in Vietnam, Malaysia, the Philippines and Indonesia, and Australia downstream marketing interests. The transaction is expected to close in 2027, subject to regulatory approvals and closing conditions.

ADNOC and OMV to Create Borouge Group International via Acquisition of Nova Chemicals

March 4, 2025

Manufacturing

Abu Dhabi National Oil Company (ADNOC) and OMV announced they will merge to form Borouge Group International, a new polyolefins chemicals group. As part of the transaction, Borouge Group International will acquire Nova Chemicals from Mubadala for $13.4 billion, with the overall deal expected to close in the first quarter of 2026.

SNDL Acquires Remaining Minority Interest in Nova Cannabis

October 21, 2024

Consumer Products

SNDL Inc. completed the previously announced plan of arrangement under which it acquired all of the remaining issued and outstanding shares of Nova Cannabis Inc. that it did not already own, representing about 34.8% of Nova. Under the deal, Nova shareholders received $1.75 per Nova share in cash, with an option to receive SNDL shares in lieu of cash for up to half of the aggregate consideration.

ADNOC Acquires OCI's 50% Stake in Fertiglobe

October 15, 2024

Manufacturing

Abu Dhabi National Oil Company (ADNOC) has completed the purchase of OCI Global’s entire 50%+1 equity stake in Fertiglobe for USD 3.62 billion on a cash-free debt-free basis, increasing ADNOC's ownership in Fertiglobe to 86.2%. The transaction marks OCI's full exit to monetize its investment; Fertiglobe's board re‑appointed Ahmed El‑Hoshy as CEO effective 15 October 2024 and the ADX free float remains at 13.8%.

ADNOC Drilling / Alpha Dhabi JV (Enersol) Acquires 25% Stake in Gordon Technologies

January 9, 2024

Energy

ADNOC Drilling and Alpha Dhabi have incorporated a joint venture (Enersol) at Abu Dhabi Global Market and completed the JV's inaugural strategic investment by transferring Alpha Dhabi’s 25% equity stake in US-based Gordon Technologies into the JV (valued at roughly $180 million). The move gives the JV an equity position in a leading measurement-while-drilling (MWD) technology provider and is intended to accelerate capability expansion in tech-enabled energy services and optimise drilling operations for ADNOC Drilling.

TotalEnergies Acquires BP's Retail, Wholesale and Logistics Fuel Assets in Mozambique

January 31, 2022

Oil & Gas

TotalEnergies has agreed to acquire BP's Mozambique retail network of 26 service stations, its wholesale fuel business and BP's 50% stake in SAMCOL terminals, strengthening TotalEnergies' downstream footprint in the country. The deal augments TotalEnergies' existing network of service stations and B2B customers, positioning the company as the leading petroleum retailer in Mozambique.