ADNOC Eyes Dangote Deal as Libya Output Hits 2013 High
Insights Dispatch - June 24, 2026
Welcome to the Wednesday edition of Insights Dispatch, our flagship brief of the latest developments bridging Africa and the Gulf
NIGERIA: Dangote Group and ADNOC Explore Strategic Collaboration
WHAT HAPPENED?
Aliko Dangote, head of the Dangote Group, met with Sultan Ahmed Al Jaber, Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC), in Abu Dhabi. The meeting focused on exploring energy and industrial partnership opportunities between Dangote Group and ADNOC.
WHY IT MATTERS?
The UAE has increasingly expanded its African investment reach beyond just the Northeast region, with Nigeria becoming the core of its West African strategy. The recent meeting not only advances this strategy but also reflects the widening importance of Africa-Gulf partnerships, particularly in energy.
WHAT’S NEXT?
Expect a round of new partnership deals between Dangote Group and ADNOC in the coming months, which could spur other Gulf states to follow suit.
SUDAN: Central Bank of Sudan Liquidates Abu Dhabi Islamic Bank’s Sudan Branch
WHAT HAPPENED?
The Central Bank of Sudan issued an administrative decision liquidating the Sudanese branch of Abu Dhabi Islamic Bank (ADIB). The decision was made at the request of ADIB’s headquarters, due to limited economic viability in Sudan as a result of the war.
WHY IT MATTERS?
Sudan’s war has devastated the country’s foreign investment landscape. Despite recent mining deals with both Saudi Arabia and Qatar, ADIB’s liquidation signals how intertwined counterparty and FX risk remain in Khartoum.
WHAT’S NEXT?
Other Gulf banking institutions will continue to monitor the war in Sudan closely. As the conflict’s effects continue to spread to neighboring countries, such as Ethiopia, other institutions may follow in ADIB’s footsteps.
LIBYA: Libya Hits Highest Oil Production Since 2013
WHAT HAPPENED?
Libya’s National Oil Corporation (NOC) announced that crude oil production hit 1.4 million barrels per day (bpd), approaching the NOC’s official target of 1.5 million bpd. It marks the highest level of production since 2013.
WHY IT MATTERS?
Libya’s oil rebound has increasingly positioned it as a key alternative source for energy buyers amid disruption in the Strait of Hormuz. The result has been a spree of energy contracts with foreign companies, including Oman’s OQ Exploration and Production and QatarEnergy.
WHAT’S NEXT?
The NOC’s announcement is likely to spur a further slate of oil deals as investor confidence rises, with Gulf energy companies among the most interested in partnering with Libya.