ADNOC awards 4pc interest in onshore concession to China ZhenHua

DUBAI: Abu Dhabi's ADNOC awarded China ZhenHua a 4 percent stake in its onshore oil concession, previously held by CEFC China Energy Company Limited, it said in a statement on Sunday.

China ZhenHua Oil is 100 percent indirectly owned by the Assets Supervision and Administration Commission of the State Council, a Chinese government agency that supervises and manages over a hundred state-owned assets and enterprises in a variety of sectors, including oil and petrochemicals and transport, it said.