ADNOC retains full ownership while ensuring stable dividends and long-term strategic continuity.
Strategic Share Transfers
Abu Dhabi National Oil Company (ADNOC) has transferred its equity stakes in several of its listed subsidiaries to XRG, the international energy investment company it launched in November 2024. The move is aimed at enhancing XRG’s scale and financial strength.
The companies transferred include ADNOC Distribution, ADNOC Drilling, ADNOC Gas, and ADNOC Logistics & Services. On Thursday, ADNOC’s majority stakes in ADNOC Distribution, ADNOC Gas, and ADNOC L&S were moved via an off-market transfer on the Abu Dhabi Securities Exchange (ADX). The transfer of ADNOC Drilling shares will follow pending regulatory approvals.
Future Inclusion of Borouge Group International
ADNOC also confirmed that its full stake in Borouge Group International (BGI) will be held under XRG once the entity is formed. BGI will emerge from the planned merger of Borouge plc and Borealis AG, along with the acquisition of NOVA Chemicals, subject to approvals.
Despite the transfers, ADNOC will continue to retain ultimate control through its 100 per cent ownership of XRG.
Stability in Strategy and Returns
The internal administrative share transfers will not affect the day-to-day operations, leadership teams, or long-term strategies of the listed companies. Dividend policies remain unchanged, maintaining ADNOC’s reputation for predictable and sustainable returns.
In its statement, ADNOC highlighted: “These internal transfers will further strengthen XRG’s size and financial position, and drive its long-term development, through access to stable and attractive dividend streams, supported by the listed companies’ existing disciplined growth and capital return agendas.”
Capital allocation frameworks, indebtedness targets, and M&A strategies will also remain consistent.
