Shearman & Sterling has advised the Abu Dhabi National Oil Company (ADNOC) on the establishment and launch of its crude oil trading unit: ADNOC Trading, based in Abu Dhabi Global Market (ADGM). The launch of the trading unit represents the next step in ADNOC's expansion of its global presence as it takes steps to increase value through its trading activities. ADNOC Trading has commenced operations, engaging in derivatives trading in crude oil products primarily in ADGM.
ADNOC was advised by a multidisciplinary Shearman & Sterling team that included corporate, regulatory, projects, tax, and finance expertise.
Associates Laleh Shahabi and Kasia Lebiecki also worked on the deal while on secondment to ADNOC.