Arab oil producers in the Gulf are turning increasingly to foreign partners for new technologies. REUTERS/Stringer/File Photo
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Goldman Sachs Group Inc. and HSBC Holdings PLC are advising Abu Dhabi's government-owned oil company on the possible sale of a stake in its $20 billion refining unit, according to people with knowledge of the matter. Abu Dhabi National Oil Co. is reviewing offers from potential partners who could buy as much as 40 percent of its refining business, said the people, who asked not to be identified because the discussions are private. Goldman Sachs and HSBC declined to comment.Adnoc also wants a partner to help it operate a trading business for crude and refined fuels, the people said.
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