adnoc has long been the prize behind it.hat makes it interesting is that sort of like saudi arabia and aramco, we are seeing them diversified. it is less about being a one-time big time ipo than it is about how we maximize our asset. they are doing upstream and downstream to cycle chemicals, plastics, but also harness what they have from the oil standpoint. they are finding new partners in india and china, in addition to people like exxon mobil. carol: that is what the story is about, right? contrast. they are both looking beyond the oil economy, but the way they are monetizing their oil stakes is different. joel: that is right. by 2030, oil will be a different world. we don't know which way it will go. there has been a lot of conversation about peak oil. this idea of what happens when we run out? know your maybe looking at something else called peak demand, which is like oversupply. no matter what, the cost of oil will be different in 2030 than it is now. the supply question will be different. which way it is, nobody knows.

it has been the prize behind it, adnoc. arabia andudi aramco, we are seeing diversification.po, more about a big-time then it is maximizing an asset. they are doing upstream and thy foram -- downstream chemicals. but to harness what they have come the oil standpoint. they are finding new partners in india and china, in addition to exxon mobil. carol: this story is a contrast, they are both looking beyond the oil economy, but the way they are monetizing their oil stakes different. ael: by 2030, oil will be different world, and we don't know which way it will go. there has been a lot of conversation about peak oil. what happens when we run out? we have been looking at peak demand, which is oversupply. of oiler what, the cost will be different in 2030 than now. the supply question will be different. which way it is, nobody knows. for a country like uae or saudi arabia, these are about how to play that. jason: it is a fascinating so she ate in -- so sheol economic story under this. if you look at abu dhabi over the past years, they have spent in a norma's amount of money building

first, abu dhabi oil giant mad to refineto invest its chemicals complex -- abu oil giant adnoc plansne in its chemical complex. >> we find the sector to be a very important growing market, and as such we have decided to defund $45 billion u.s. our investments -- u.s. to fund our investments and expand. reporter: part of the unique proposition of your expansion plans is the partnership model, the emphasis on partnerships. give us an idea of what partnerships you might be looking to. >> adnoc is very much known for its commitment to its partners. they are those which authority established artists with adnoc and wish to continue on this journey of value maximization while also staying focused on stretching the dollar from every barrel we produce. providingrward to smart capital access and market toess in the growing market be able to capture new opportunities, as well as accessing technology and innovations with out of the box thinking. this is exactly what we aim to achieve with our partners. reporter: when might we expect to get some news on partnerships? >> it has been about three ye

the sultan told bloomberg that adnoc is considering opportunities including joining saudi aramco to investun energy producer plans to invest $45 billion to as at refining capacity its complex by 65%. clean: china's biggest energy company is offering $11 billion to buy shares it does not own in the portuguese .lectricity giant edp the bid is 5% higher than edp's closing price on friday. a hold 23% of gdp and said it will hold the companies listing on the lisbon stock exchange. betty: walmart may be forced to publicly list flipchart in india. this gives walmart 77% of the e-commerce company and a foothold in one of the world's fastest-growing -- fastest-growing markets. this gives investors as little as 14% the right to acquire walmart to take the company public in as soon as four years. much more ahead. morgan stanley, upbeat. we will talk to them. this is bloomberg. ♪ ♪ yvonne: we are live from bloomberg's asian headquarters. asia.ak australia markets hate into a new week on the back of their best winning streak in two years. energy stocks have led the way. malaysia andns to elastic sister

that is great for you as a producer and for companies like adnoc's, but do you worry there is a pointher prices hit demand? reporter: what we target is not a certain price. we are not always happy when too high.s anything that is not sustainable, that is not a very good target. what we are targeting is a price that incentivizes investors. we are targeting a price that is , that is reached when the markets is stable between supply and demand. is demand, very healthy growth on demand. a year of geopolitics that you mentioned earlier. so i think we need to give the market time and look at that price within a whole year rather than just inside a month or a week. that was the uae energy minister speaking to bloomberg's tracy alloway. for breaking news wherever you are, we have teamed up with twitter to launch tictock by bloomberg. it is the first global news network design for social media, offering hourly updated news reports, verified by us. they sure you follow tictock. ♪ haidi: i am haidi lun in sydney. betty: i am betty liu. you are watching daybreak australia. jack dorsey, snoop dogg

erik: wire the apparent change in attitude toward monetization of assets, the ipo of adnoc, for examplement of -- i remember when i started to do what i am doing right now. the culture almost of these investment companies was about and thening assets the maintaining theml principle of monetization was not really part of the mindset. while as i think the principles evolved. yes, it is about dividends. yes, it is about growth. monetizing.so about that is really the shift that happened over the last couple of years that i tried to push mubadala. not with a view to cash out, but with a view to reinvest. scarlet: that is our exclusive interview with the ceo of move in dollar. of mubadala. this is bloomberg. ♪ scarlet: her efforts have gone globally. >> it is a very simple idea that is incredibly powerful. black people deserve to have the things that all people deserve. this movement has really allowed for multiple ways for people to be involved and to educate themselves and to empower themselves and their communities. that's one of the reasons it has become so powerful. >> can you talk to me

that's great for you as a producer and great for companies like adnoc's.ere's a point where higher prices hit demand? >> what we target is not a certain price. we are not always happy when prices go to high. -- too high. not sustainable is not a very good target. we are targeting a price that is reached when the market is stable. this is a very good year in terms of demand. a very healthy growth in demand. it's a year of geopolitics. we need to look at the price within the whole year rather than a month or a week. the uae's energy minister. tim is still with us. do we know if the market is beginning to get an understanding of what the effect of the iran story will be? will: no because we don't know how much oil this will take out of the market. noe people are saying almost oil will be prevented and some people are saying almost half. knowarket really needs to how the sanctions are going to impact things. what it means for ensuring ships carrying cargo. we don't know what effect lobbying may have from european governments to slightly soften the sanctions. t