The President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, has appointed a distinguished group of international business leaders to the board of ADNOC’s new investment arm, Abu Dhabi National Oil Company (ADNOC) XRG. This strategic move aims to bolster ADNOC’s global reach and expand its influence in energy and financial investments.
Among the key appointees is Jonathan Gray, President and COO of Blackstone, reflecting the strategic partnership between ADNOC and Blackstone. Other prominent figures joining the board include Huda Al Suwaidi, a respected expert in financial strategy, and several industry veterans from global financial and industrial institutions.
The ADNOC XRG board’s primary objective is to guide the company’s strategic investments globally, focusing on energy, sustainability, and emerging markets. This comes at a time when ADNOC is heavily investing in transformative initiatives, including hydrogen projects and renewable energy ventures, aligning with the UAE’s long-term vision for energy diversification and economic sustainability.
Jonathan Gray emphasized the importance of the UAE’s role in the global energy transition, stating, “This is an extraordinary opportunity to contribute to a transformative strategy. ADNOC is positioned to lead in sustainable and impactful investments globally.”
The establishment of ADNOC XRG is part of the company’s broader strategy to position itself as a leader in global investments. ADNOC is already a significant player in the oil and gas industry, but with this initiative, it seeks to expand its influence across sectors such as technology, renewable energy, and infrastructure.
The new board’s combined expertise is expected to drive innovative and strategic investment decisions, further solidifying ADNOC’s position as a global leader in energy and investments
