Latest news with #AbuDhabi-owned
Yahoo
17 hours ago
- Business
- Yahoo
UAE oil giant circling BP gas fields
A state-backed oil giant from the United Arab Emirates is positioning itself for a swoop on BP's energy empire. Adnoc, the Abu Dhabi-owned group, has been considering a move for BP's key assets and looking to partner with another bidder to buy some of the FTSE 100 group's divisions, Bloomberg reported. The Middle Eastern company, which is run by Sultan Ahmed Al Jaber, the UAE's energy minister, is said to be most interested in BP's liquefied natural gas (LNG) fields, rather than taking over the entire company. Adnoc recently started an international unit, XRG, which is on the hunt for gas and chemicals deals as it targets a big jump in LNG capacity. It is understood that XRG's discussions about a possible bid are at an early stage with no decisions made. No BP assets have been announced as being for sale. Adnoc has been a longstanding suitor for BP, with The Telegraph last year reporting that Adnoc had explored a full-blown takeover of the UK group, which has long suffered from a depressed stock market valuation. Deliberations did not advance after Adnoc concluded that BP was not the right fit for its strategy. The company was also concerned about the politics of any bid. A takeover of BP would almost certainly draw UK government involvement because of its significance to Britain. Sultan Al Jaber, who has run Anoc since 2016, is also the chairman of UAE media company IMI, which has been involved in funding a bid to buy The Telegraph. Adnoc's possible interest comes as BP battles to turn around its fortunes after a string of missteps in recent years. Murray Auchincloss, the chief executive, is trying to reset that with a return to oil and gas, and a plan to sell assets. Elliott, the US activist investor, also recently took a significant stake in the group and has been pushing for changes to improve performance and shareholder value, including spending cuts and asset sales, BP and Adnoc already have a long history of working together on projects. The London-headquartered company helped discover oil in Abu Dhabi more than half a century ago. Last year BP also took a 10pc stake in an LNG plant under construction in the emirate and the companies also struck a deal to form a joint venture focused on production from two vast Egyptian gas fields. Under the deal, BP transferred interests in three gas fields to the joint venture as well as exploration rights. Adnoc put cash into the joint venture helping BP raise funds to further expand in the Middle East. The move was part of BP's attempts to battle a prolonged underperformance stemming in large part from its previous focus on a net zero strategy. Other oil companies have also been exploring opportunities at BP, whose market value has fallen by a third in just over a year to below £60bn. Adnoc referred questions to XRG, which declined to comment. A BP spokesman said the group refused to comment on 'rumour and speculation'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Daily Mirror
31-05-2025
- Sport
- Daily Mirror
Champions League final predictions see clear favourites for PSG vs Inter emerge
PARIS SAINT-GERMAIN VS INTER MILAN: This season's Champions League final takes place in Munich on Saturday and our writers have weighed in with their predictions for the biggest game in European football So, it all comes down to this, the Champions League final. After a record 188 games in the competition's new format, we're potentially 90 minutes away from crowning the kings of Europe. The road to Munich has been a marathon and the only two teams left coming towards the finish line are Paris Saint-Germain and Inter Milan. Both sides are fuelled by pain of losing a final in recent memory; one much-changed team and the other very much the second coming. PSG no longer rely on the superstars who failed to fire them to glory in Lisbon five years ago, as Luis Enrique has reshaped them in his own image after bouncing back from the tragedy of his nine-year-old daughter's death. Inter, meanwhile, haven't had to change course, as this could be the defining moment of Simone Inzaghi's trophy-laden tenure ahead of his potential farewell. But who'll lift the trophy at the Allianz Arena on Saturday? We asked Mirror Football's writers for their predictions. John Cross Paris Saint-Germain will win the Champions League. And my argument is simple: they are the best team I have seen in European competition this season. They have beaten Arsenal, Liverpool and Aston Villa on the way to the final. Plus Manchester City in the league phase. It's not just because they are better than English opposition. Luis Enrique's team have been exceptionally well organised, exciting in every department - from full-backs Achraf Hakimi and Nuno Mendes to forwards Ousmane Dembele and Khvicha Kvaratskhelia - and brilliant in midfield, especially Vitinha. This feels like, at long last, PSG's time. Enrique has made it about the team. No more megastar names, a sense of togetherness and, after all the money spent, they look ready to deliver. It would be crazy to write off Inter Milan as some sort of defensive threat. Did you see the semi-final with Barcelona? Inter boss Simone Inzaghi has also built a team rather than a squad of superstars. They have big game experience. And have been upsetting the odds all the way. But the romantic in me says PSG. PSG 3-1 Inter Milan Who'll win the Champions League final - PSG or Inter Milan? Give us your score prediction in the comments section. Neil McLeman Like for Manchester City in 2023, this is finally Paris Saint-Germain's time to win the Champions League after losing their first final. It took 15 years for the Abu Dhabi-owned club, bought in 2008, to finally win European football's biggest club trophy after falling to Chelsea in 2021. PSG, bought by Qatar in 2011, lost to Bayern Munich in the 2020 Covid final with a forward line of Kylian Mbappe, Neymar and Angel Di Maria. Lionel Messi joined the following year but the superstar team did not work. Current coach Luis Enrique has still been able to spend - PSG bought Khvicha Kvaratskhelia from Napoli for €70million (£59m) in January - but he has built a young, hard-working team of future stars. Ousmane Dembele has been outstanding while Gigio Donnaruma proved with his saves against Liverpool, Arsenal and Aston Villa that he is the best keeper in the world. Inter Milan have more experience - and two excellent strikers in Lautaro Martinez and Marc Thuram - but PSG will prevail. PSG 2-1 Inter Milan Mike Walters Everyone knows the biggest football match this weekend is Oldham and Southend's National League play-off final at Wembley. If you want 5ft Christmas trees in the forest to grow into mighty Scots pines, you have to look after the saplings. So no offence to Paris Saint-Germain or Internazionale, but their little tiff in Munich is on the undercard. Having said that, PSG beat all four English clubs on their crusade to the Champions League final. They were too good for Manchester City, magnificent against Liverpool, clung on in a storm at Villa Park and clinical against Arsenal, a body of work which suggests they will at last land the finest holy grail money can buy. Inter's semi-final romps with Barcelona were spellbinding, and they will not come quietly in the court of Harry Kane. It's as much a toss-up as the big one between Shrimpers and Latics, but I have a sneaking feeling that joie de vivre will just about pip la dolce vita and it's PSG's time to shine. PSG 2-1 Inter Milan Simon Mullock It's the Premier League killers against the team that refuses to die - and the 2025 Champions League final has all the ingredients to be a cracker. Paris Saint-Germain are the bookies' favourites to become the 24th club to have their name engraved on the trophy with the big ears after beating Manchester City in the group stages and then eliminating Liverpool, Aston Villa and Arsenal on the road to Munich. The French champions have grown as a team since ditching the baggage carried by Kylian Mbappe and Neymar, yet still have individual brilliance in the guise of Ousman Dembele, Khvicha Kvaratskhelia and Desire Doue. But it's impossible to write off an Inter team bidding to become European champions for the fourth time after the way they came back from the dead to beat Barcelona in the game of this or any tournament in the semi-finals. I'm taking the young pretenders to prevail over European royalty. PSG 3-2 Inter Milan Oli Gamp I'm backing PSG to win their first ever Champions League title this weekend. It should be a very tight affair in Munich between two teams that weren't picked by anyone to get to this stage. But I can see PSG edging it to complete what has been a rollercoaster journey to winning Europe's elite competition, the trophy they have craved since Qatar Sports Investments took over in 2011. After 14 years, the club could finally realise their dream - without superstars like Neymar, Lionel Messi and Kylian Mbappe in the side. Luis Enrique has simplified things by giving his side balance - developing stars like Bradley Barcola and Desire Doue. Meanwhile, Khvicha Kvaratskhelia is quickly becoming one of the world's most exciting talents and Ousmane Dembele is flourishing too. They come into this game off the back of winning Ligue 1 and the French Cup and that momentum will be crucial. Inter have won this competition three times and lost the final in 2023. They're a top side and have done superbly to get here once again, but I think it will be PSG's night. PSG 1-0 Inter Milan Tom Victor With the exception of the odd half-hour spell here and there, Paris Saint-Germain have looked untouchable in the knockout stages of the Champions League. Even when they were beaten at home by Liverpool, they put in the kind of performance that would lead to victory nine times out of 10. Inter Milan's great strength in the early part of the competition came in defence, but this is something they'll find it hard to replicate against an attack as stacked as that of their opponents. Their best bet might be embracing full chaos, as they did against Barcelona in the semis. Ultimately, though, it's hard to look past that PSG frontline. Ousmane Dembele has arguably been the standout player in the competition, and Champions League glory would feel deserved for someone who has embraced his status as the main man since Kylian Mbappe's exit. Inter should find a way to get on the scoresheet, but their opponents have the goods to keep coming at them for as long as they need to get the job done. PSG 3-1 Inter Milan Scott Trotter Paris Saint-Germain have been the standout, most exciting attacking team in the competition... well if you ignore a certain semi-final between Inter Milan and Barcelona. The Serie A giants went from being stingy in defence to to offering more goalscoring drama than two legs can handle as they battled for a place in the final. And despite some difficultis against Aston Villa, perhaps its the French side who have proven more resolute in their backline during the knockout stages. Regardless, quite the clash awaits. And the question is do you back a team of expensively assembled youth against a side that includes some players the Premier League had long ago written off? Unfortunately, I don't think a repeat of Inter's clash against Barca awaits, but there should still be some brilliant football. Seeing how Simeone Inzaghi looks to counter the fluidity offered by PSG's forwards and the space created to them will be fascinating. But it might, finally, be PSG's time. PSG 2-1 Inter Milan Daniel Orme Inter Milan have been here before: un-fancied in a Champions League final. And they've actually ended up winning it. But it's not quite been that way recently having lost their last two European finals. Of course, PSG have never managed to get the crown but it might potentially be their turn this season. If the irresistible Ousmane Dembele is on top form, it's really tricky seeing Inter Milan keeping him quiet. Of course, the Italians are more than capable of finding the net having been named top scorers in Serie A. But PSG have been the best side in the Champions League this season - and they should have enough to get over the line. PSG 3-1 Inter Milan Nathan Ridley Reading through these predictions, we've got a clear favourite in the house: PSG. But while I understand every argument, I'm sticking to my guns and going Inter Milan. I've backed Simone Inzaghi and Co. since the start of the competition and my confidence has grown at every stage. They've got the know-how, intelligence and quality from back to front to win the biggest matches, and if not for Romelu Lukaku's blunders in Istanbul, they could've beaten Manchester City two years ago. And while it feels like PSG's year to many, don't forget that the Nerazzurri also seem to believe that their name is on the trophy - and for good reason. Francesco Acerbi's stoppage-time equaliser against Barcelona was the stuff of dreams and I think they're in for another magical night in Munich, leaving PSG heartbroken once again. PSG 0-1 Inter Milan
Khaleej Times
20-05-2025
- Business
- Khaleej Times
How Haider Rafique is putting crypto exchange OKX on the map
Call him a dealmaker, a rainmaker, or even a power broker – but Haider Rafique gets things done. As the managing partner and chief marketing officer at OKX, he is helping put one of the world's biggest crypto exchanges on the global map. One of the ways he's doing this is by wrangling high-profile partnerships and sponsorship deals that range from the football pitch to the racetrack, to the world of the arts. Rafique is a busy man, and KT LUXE caught up with him in the back of his chauffeur-driven ride to a major crypto conference in Dubai recently. OKX scored a massive win there as one of the main sponsors. Not only was it the biggest crypto event to ever take place in the emirate, but Eric Trump, son of US President Donald Trump, took to the OKX stage at one point, giving the brand another major boost. Rafique went to school in Abu Dhabi and has seen the UAE progress at a rapid pace over the past two decades. Coming full circle, he drove the sponsorship deal that put OKX on the shirt sleeves of Abu Dhabi-owned Manchester City FC. The football club was bought by Sheikh Mansour bin Zayed Al Nahyan, UAE Vice-President and Deputy Prime Minister via his Abu Dhabi United Group (ADUG). Its head coach is Pep Guardiola. The team has experienced unprecedented success, winning multiple Premier League titles, domestic cups, and the UEFA Champions League, while expanding into a global football enterprise through the City Football Group. 'I think we can do a lot more with Man City, because I think people living here feel Man City is a [beacon of] national pride for them. We need to do more to help them celebrate their wins,' he said. Rafique talked about advertising the club's successes with huge billboards along Sheikh Zayed Road and bringing the team here. 'I want to bring Pep here and do a session. I want (star striker Erling) Haaland to kick a ball from one tower to another. Yeah, crazy stunts. I want people to be excited and energised.' The club has not achieved its recent high standards this season, and missed out on the chance to win five Premier League titles in a row this year. 'They're not having the best season. But that's the time when you want to bet on your partners, to show them your support.' That's how Rafique describes OKX's involvement with McLaren; the firm started sponsoring them during a poor period for the racing team. It has massively improved and McLaren continues to lead both the Drivers' and Constructors' Championships. Oscar Piastri and Lando Norris currently occupy the top two positions in the Drivers' standings. Passionate about Formula 1, Rafique counts a number of current and former professional racing car drivers as his friends, including McLaren's current line-up. He is also friends with actors through OKX's sponsorship of the Tribeca Film Festival, which was established by actor Robert De Niro, producer Jane Rosenthal, and real estate investor Craig Hatkoff. If that wasn't enough, Rafique headed the deal for OKX to become the first official global sponsor of Majesticks GC, one of the 12 teams in the LIV Golf League. As part of the sponsorship, team members, including Ian Poulter and Lee Westwood, sport the OKX logo on their team kits during tournaments across the US, Europe, the Middle East, and Asia. LIV Golf is owned and funded by Saudi Arabia's Public Investment Fund (PIF), one of the world's largest sovereign wealth funds. It has invested nearly $5 billion (Dh18 billion) into LIV Golf since its inception in 2021. During our plush ride, the shimmering skyscrapers of Dubai's rapidly expanding financial district passed by along with the glistening Museum of the Future, often described as the most beautiful building in the world. Rafique spoke about Eric's presence in Dubai, and plans for a Trump Tower in the city. The skyscraper is expected to be built by 2031. Rafiq mused about building OKX's own tower as he stared out from the taxi at the expanding Dubai skyline. 'Yes, I would love that,' he said.
Daily Mirror
16-05-2025
- Sport
- Daily Mirror
Marc Guehi reveals transfer stance on eve of Crystal Palace's FA Cup final
Crystal Palace are bracing for interest in defender Marc Guehi this summer as he prepares to enter the final year of his contract at Selhurst Park, with Chelsea and Newcastle previously targeting the England international Marc Guehi swerved questions on his future before captaining Crystal Palace in the FA Cup final on Saturday. The England centre-back was a target for Newcastle last summer and now has only one year left on his Palace contract. The South London club will have to sell him at the end of the season if he does not agree to a new deal. But before facing Manchester City at Wembley, Guehi said: "I think the most important thing is just always doing the best that I can for this football club. I come in every day and I try to be the same. "I try to work hard. And you know, this football club has given me a lot. I'm still under contract at this football club, so my focus is always at this football club. So, you know, for me, the most important is just doing the best I can and seeing where the future holds.' Palace are playing their third FA Cup final - and bidding to win a first major trophy in their history. Abu Dhabi-owned City have won the Premier League in the previous four seasons - and 36 trophies in all Asked if winning the FA would mean more to the South London club, Palace manager Glasner said: "I don't know. If something is the first time in your life then maybe it means more to you than when you have it every single year. City, I don't know how many trophies they've won and finals they have played in under Pep. "It's definitely more than Crystal Palace has! But for the players, the manager, the club, winning a title is something great in the season. "I don't expect that they will wave us the white flag and say: 'Okay, it's the first title for Crystal Palace, you should get it.' I think they will fight to win it.' Adam Wharton is fit to play in tomorrow's FA Cup final, Crystal Palace boss Oliver Glasner has confirmed. The England midfielder was subbed off against Nottingham Forest with an ankle ligament injury and missed last weekend's game at Spurs. But speaking before the Manchester City clash, Glasner said: 'Everybody is fit. I have some tough decisions to make but some good decisions. "We all want to enjoy this moment, but I think the last couple of weeks we have been enjoying it. It's a great time for the club, it's a great time for every one of us, it's a great time for our fans. "When I could see the players training, it was just great to watch them. Nobody looked nervous, everybody was focused, but we were laughing, having fun together, because this is why we play football. "There's a lot of attention. We're playing in the biggest stadium in England in front of 90,000 people. There will be, I don't know, about 40,000 Crystal Palace fans, but when we play at home, we have maybe 22-23,000. We all are in this privileged situation that we can experience it, and it's just a lot of joy and positivity about this final." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
Wall Street Journal
05-05-2025
- Business
- Wall Street Journal
Adnoc Gas Posts Higher Net Income, Beats Views
Adnoc Gas posted higher first-quarter net income that beat market views. The Abu Dhabi-owned gas company on Monday posted net income of $1.27 billion for the period, up 7%.
