November 7 (Reuters) - Bloomberg reported on Friday that ADNOC Global Trading CEO Ahmed bin Thalith said the company plans to increase handling volumes by about two-thirds over the next few years as part of its international expansion.

ADNOC Global Trading is the trading arm of Abu Dhabi National Oil Company (ADNOC), which has been intensifying its global expansion in recent years to find new sources of income for the Gulf state, including engaging in trading operations since 2018.

Bin Thalith said in an interview with Bloomberg published today that the government-owned ADNOC sees trading as a way to obtain greater value from selling fuel produced in the emirate and elsewhere.

He added, "In just five years, we have established offices in Singapore, Geneva, and soon in the United States."

Reuters reported last year that ADNOC planned to establish a trading office in the United States as part of the global expansion efforts of the UAE-backed oil and gas producer.

Bin Thalith told Bloomberg that the next phase of ADNOC Global Trading’s expansion will be an office in Houston in 2027.

ADNOC conducts its trading activities through two divisions: ADNOC Trading, which focuses on crude oil, and ADNOC Global Trading, a joint venture with Italy’s Eni and Austria’s OMV, which focuses on refined products.

(Prepared by Ahmed Hisham for the Arabic Bulletin - Edited by Mahmoud Salama)