XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is in preliminary discussions to acquire a stake in Eni's oil and gas business in Libya, according to sources familiar with the matter. [2, 3, 4] The talks are at an early stage, and no deal is certain. [3, 5]
Eni has operated in Libya since 1959. [3, 4, 5] Libya accounted for roughly 10% of Eni's total production last year, at 162,000 barrels of oil equivalent per day. [3, 4, 5]
The potential acquisition aligns with ADNOC's strategy to expand its international energy portfolio. Both Eni and XRG declined to comment. [3, 4]