UAE’s ADNOC and China National Offshore Oil Corporation (CNOOC) announced on 25/7/2024 a strategic cooperation in oil and gas exploration and development.
In recent years, CNOOC has increased its collaboration with countries taking part in the China-led Belt and Road Initiative (BRI).
This note delves into the following key aspects:
- The nature of cooperation between ADNOC and CNOOC
- ADNOC’s views regarding yuan based pricing
- Abu Dhabi’s views on the U.S. dollar oil trade
