Abu Dhabi National Oil Company(ADNOC) announces the transfer of its 24.9% stake in OMV AG to XRG PJSC, its wholly-owned international investment company. The decision, subject to regulatory approval, is part of the company’s efforts to centralize and optimize its portfolio of global assets under a specialized corporate structure.
ADNOC’s restructured strategy
The move responds to a broader vision of strengthening the position of ADNOC s position in the international market, channeling its investments through XRG, an entity created to manage strategic holdings outside the Emirates. This transfer does not alter Abu Dhabi’s relationship with OMV, because the collaboration will continue under the new scheme, the company confirmed.
At the same time, the company is moving forward with the formation of Borouge Group International, a proposed joint venture that will merge key petrochemical assets and aims to position itself among the top four polyolefins producers worldwide. ADNOC’s 46.94% stake in this new entity is also expected to be managed by XRG, reaffirming its role as the main vehicle for the Emirati group’s international operations.
The integration of holdings under XRG allows ADNOC to maintain a consistent and flexible strategy in international markets. This restructuring offers greater agility in decision making and boosts operational efficiency in the management of energy and petrochemical assets.
XRG consolidates its position as ADNOC’s global growth hub, supporting key initiatives such as the partnership with OMV and the evolution of Borouge, reflecting a systemic approach to expansion and leadership in the polyolefins industry.
With this move, Abu Dhabi is aligning itself with a growing trend in the global energy sector: the use of specialized corporate vehicles to manage complex international investments. The move to XRG not only allows for the centralization of assets, but also facilitates operational synergies and clearer governance for stakeholders.
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Source and photo: ADNOC
