GLOBAL AMBITIONS

ADNOC dealmaking goes straight to top amid Covestro negotiations

A $150 billion five-year capital spending plan approved by MBZ has provided the support for dealmaking efforts

UAE President Mohamed bin Zayed delivers a speech during the opening of the High Level Summit of the 2022 United Nations Climate Change Conference COP27 in Cairo. (Getty Images)

The decision by the UAE’s national oil company ADNOC to move from operating simply as a domestic oil producer to taking the reins as an international dealmaker comes straight from the top – and progress this week on a $12.5...