Abu Dhabi National Oil Company (ADNOC) is planning an initial public offering (IPO) in December for its retail operations, sources told Reuters.

The company’s retail division, ADNOC Distribution, sells gasoline in the UAE market.

The company has been considering listing more than a 10% stake in ADNOC Distribution for up to $14 billion, media sources previously reported.

ADNOC is the state oil company of Abu Dhabi.