The UAE’s biggest oil producer is pushing to build its fledgling trading operations into a multibillion-dollar business this decade by bolstering its presence in Europe and Africa, and expanding in other forms of energy.

In a bid to catch up with long-established rivals, Abu Dhabi National Oil Co. wants to take advantage of the hole left by Europe’s pivot from Russian fuels, according to people with knowledge of the company’s plans. It is pursuing term contracts for crude, refined fuels and liquefied natural gas and supplying those volumes to the region, they said, asking not to be named because the plans aren’t public.

Read more: rigzone.com

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