Eni and OMV are taking 35% of Adnoc Refining, marking the first step in Abu Dhabi’s ambitious downstream expansion plans. The move will bring additional expertise, and add a level of transparency to Abu Dhabi’s refining sector.

Adnoc has brought Italy’s Eni and Austria’s OMV into its refining unit Adnoc Refining. In a move announced 27 January, Eni will take 20% and OMV 15%, with Adnoc retaining 65%. The deal is planned to close in Q3.

Adnoc Refining has throughput...