DMEA: ADNOC withdraws from Wataniya deal

The Abu Dhabi National Oil Co. (ADNOC) has withdrawn from bidding on Egypt’s Wataniya Petroleum as the deal was ending, according to sources with inside knowledge of the event.

The sources remarked that certain investors who had expressed interest in Wataniya were now moving focus to an upcoming ChillOut stations offering, also noting that the Egyptian government could take until next March to examine all offers submitted, review applications, and select the winning bid.