UAE's ADNOC plans to establish trade office in US as part of global expansion

Abu Dhabi National Oil Company (ADNOC) is planning to set up a trading desk in the US as part of the United Arab Emirates-backed oil and gas producer's global expansion efforts, several sources familiar with the matter told Reuters.

The company has recently held talks to recruit senior energy traders to oversee the US expansion effort, the sources said.

The sources requested anonymity to discuss confidential details and cautioned that ADNOC could still change its plans to focus elsewhere.

ADNOC declined to comment.

Reuters