Chinese oil companies have emerged as major investors in Abu Dhabi overnight, splashing a combined $2.65 billion to become the largest foreign stakeholders in the Persian Gulf emirate’s prized onshore fields.
Abu Dhabi National Oil Company (Adnoc) awarded an 8% stake in Abu Dhabi Company for Onshore Petroleum Operations (Adco) on Sunday to state-owned China National Petroleum Corporation (CNPC) for $1.77
