The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter have told Reuters.
ADNOC, in contrast, has increased oil and gas production capacity and CEO Sultan al-Jaber is seeking to reshape the state giant in the image of a global oil major. The company, which is not publicly traded, is big enough to consider acquiring the smaller of the oil majors, BP. ADNOC declined to comment for this story. A BP spokesman and a spokesman for Britain's business ministry also declined to comment.
In December, it agreed to buy European chemical producer OCI's stake in ammonia and urea producer Fertiglobe for $3.6 billion. BP chief executive Murray Auchincloss took the top job in January, succeeding Bernard Looney who was dismissed in December for lying to the board over personal relationships with colleagues.
Business BP Oil Companies Abu Dhabi National Oil Company ADNOC
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