ADNOC Transfers Listed Company Stakes to XRG in Major Restructuring

Abu Dhabi National Oil Company (ADNOC) has transferred its equity stakes in several of its listed subsidiaries, including ADNOC Distribution, ADNOC Gas, ADNOC Logistics & Services, and ADNOC Drilling, to XRG P.J.S.C., its wholly owned international energy investment arm. ADNOC retains full control and ownership through its 100% stake in XRG, ensuring no changes to the day-to-day operations, leadership, strategic direction, or dividend policies of these companies. This internal restructuring aims to enhance XRG’s scale, financial position, and long-term growth by leveraging stable dividend streams from the listed firms. XRG, launched in late 2024, focuses on global lower-carbon energy and chemicals investments and plans to expand its asset base significantly over the next decade. ADNOC also plans to transfer its stakes in Fertiglobe and the upcoming Borouge Group International (BGI)—a merger of Borouge and Borealis acquiring NOVA Chemicals—to XRG, subject to regulatory approvals. The move is part of ADNOC’s broader strategy to strengthen its investment platform while maintaining capital discipline and long-term value creation for shareholders and the UAE economy.