Abu Dhabi, UAE | Sep 12, 2025 (The Arabian Wall Street) — The Abu Dhabi National Oil Company (Adnoc) has announced the transfer of its equity stakes in several of its listed subsidiaries to XRG, the company’s wholly-owned international energy investment arm. The strategic move is aimed at consolidating Adnoc’s assets under a single platform while reinforcing its long-term value creation strategy.
Despite the transfer, Adnoc emphasized that it will retain ultimate ownership and control of the firms through its 100% shareholding of XRG. The company reaffirmed that the administrative share transfers will not affect the day-to-day operations, leadership teams, or strategic direction of the listed subsidiaries. Dividend policies will also remain unchanged, maintaining Adnoc’s consistent record of delivering predictable and sustainable returns.
The transfers are designed to bolster XRG’s size and financial position, enhancing its capacity for long-term development through access to stable dividend streams. These streams are supported by the listed companies’ disciplined growth and robust capital return frameworks.
The companies included in the transfer are:
- Adnoc Distribution (Abu Dhabi National Oil Company for Distribution)
- Adnoc Drilling Company
- Adnoc Gas
- Adnoc Logistics and Services
In addition, Adnoc confirmed that its entire stake in Fertiglobe is already held through XRG. Once regulatory approvals are secured, the planned combination of Borouge and Borealis AG into the newly formed Borouge Group International (BGI) will also fall under XRG’s umbrella. BGI is expected to acquire NOVA Chemicals, further strengthening Adnoc’s international portfolio.
The share transfers of Adnoc Distribution, Adnoc Gas, and Adnoc Logistics & Services were executed via off-market transactions on the Abu Dhabi Securities Exchange (ADX). The transfer of Adnoc Drilling will follow pending regulatory clearance.
Adnoc highlighted that these changes reflect its commitment to capital discipline, sustainable growth, and long-term value creation, while positioning XRG as a stronger global investment platform to lead its future international energy ventures.
