TotalEnergies and Adnoc have agreed to work together on supplying UAE diesel to France as part of a new strategic partnership agreement.
The agreement also includes jointly evaluating opportunities for new oil and gas developments in the UAE and assessing the possibility of a carbon capture, utilisation and storage (CCUS) project in the Mideast Gulf country.
The deal with TotalEnergies will give Adnoc an opportunity to capture more market share in Europe, where it fiercely competes with Saudi Arabia. Most of the UAE’s refined product exports head to Africa at the moment.
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