HARARE – President Emmerson Mnangagwa has held discussions with ADNOC Trading, the trading arm of the Abu Dhabi National Oil Company, as Zimbabwe seeks deeper energy cooperation with the United Arab Emirates.
ADNOC Trading, a major state-owned and diversified energy group in the UAE, sent a delegation to State House in Harare for a courtesy call earlier this afternoon. According to the Ministry of Information, the meeting focused on exploring potential areas of collaboration, particularly in securing energy supplies, attracting investment, and strengthening strategic partnerships.
In a brief statement, the Ministry said: “A delegation from ADNOC Trading paid a courtesy call on His Excellency, President Emmerson Mnangagwa at State House this afternoon. Discussions centred on potential cooperation in the energy sector.”
ADNOC Trading is headquartered in Abu Dhabi and operates as the commercial and logistics arm of the Abu Dhabi National Oil Company, one of the world’s largest integrated energy producers.
Invictus in Talks to Sell 50% Stake to Qatar’s Al Mansour Holdings
Meanwhile, Australian-listed Invictus Energy Limited has confirmed it is in advanced negotiations with Qatar’s Al Mansour Holdings (AMH) over a potential deal that could see the Gulf investor acquire a 50 percent shareholding in the company.
The talks follow AMH’s landmark US$500 million funding commitment announced in August, aimed at accelerating the commercialisation of Invictus’ Cabora Bassa oil and gas project in Zimbabwe’s Muzarabani district. As part of that funding arrangement, the two parties formed a joint venture, Al Mansour Oil & Gas (AMOG), to acquire and develop oil and gas assets across Africa.
In a statement, Invictus said the ongoing negotiations include a proposed structure that would give AMH—and affiliated Qatari investors—a pathway to acquire half of the company. The structure would require multiple regulatory and governance approvals in Australia and Qatar, including an Independent Expert’s Report for shareholders and possible clearance from Australia’s Foreign Investment Review Board.
If the agreement is finalised, it would set off a sequence of regulatory steps culminating in an Extraordinary General Meeting, where shareholders would vote on the transaction. However, Invictus cautioned that there is currently no guarantee that the deal will be completed.
To accommodate continued negotiations, settlement of the share placement announced on 29 September has been postponed to on or before 27 January 2026. That placement involves the issuance of 398,368,131 new shares at AUD0.095 each, which would give AMH a 19.9 percent stake under the present terms. The company stressed that all other conditions remain unchanged, including resolutions scheduled for its annual general meeting.
