Market Chatter: Eni's Libya Oil and Gas Business Draws Interest From ADNOC's XRG

MT Newswires Live10-22 20:54

Eni (E) is in early-stage talks with XRG, the international investment arm of Abu Dhabi National Oil, on a potential sale of a stake in its oil and gas business in Libya, Reuters reported Thursday, citing two people familiar with the matter.

There is no certainty the discussions will lead to a deal, one of the sources said.

XRG aims to expand LNG capacity to 20 million to 25 million metric tons annually by 2035 and already partners with Eni and Argentina's YPF on a multibillion-dollar LNG project, Reuters added.

Eni and XRG did not immediately respond to MT Newswires' request for comment.

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