{"id":82714,"date":"2024-11-28T00:00:00","date_gmt":"2024-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/"},"modified":"2024-11-28T00:00:00","modified_gmt":"2024-11-28T00:00:00","slug":"adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/","title":{"rendered":"Adnoc launches XRG to invest in low-carbon energy and chemicals"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc launches USD 80 bn investment company: <\/strong>Abu Dhabi National Oil Company (Adnoc) launched XRG, an international investment company focused on lower-carbon energy and chemicals, with an investment value over USD 80 bn, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2024\/adnoc-launches-xrg\" style=\"\" rel=\"noopener\">press release<\/a>. The company plans to double its asset value over the next decade, and will hold a global strategy day sometime next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>XRG is set to begin operations in 1Q 2025 <\/strong>and will focus on developing three core platforms: <\/p>\n<ul>\n<li><strong>The chemicals platform<\/strong> aims to position XRG among the top five global chemicals producers, targeting a 70% increase in global demand for chemical and specialty products by 2050;<\/li>\n<li><strong>The international gas <\/strong><strong>platform <\/strong>will develop an integrated gas portfolio, anticipating a 15% increase in global natural gas demand over the next decade and a 65% increase in liquefied natural gas demand by 2050;<\/li>\n<li><strong>The low carbon energies platform<\/strong> will invest in solutions for low-carbon energies and decarbonization technologies, backed by forecasts for the low-carbon ammonia market to reach between 70-90 mn tonnes per annum by 2040, up from near-zero levels currently.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Adnoc has been expanding its chemicals and low-carbon energy business in recent months:<\/strong> The state-run oil giant finalized its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1518b3be-ab9f-4fa0-8564-6afaf3eb94a0\/adnoc-completes-acquisition-of-oci-global%25e2%2580%2599s-stake-in-fertiglobe,-with-el-hoshy-set-to-stay-on-as-ceo\" style=\"\" rel=\"noopener\">USD 3.62 bn<\/a> acquisition of OCI Global's 50%+1 stake in the chemical producer Fertiglobe last month. It also made a public takeover offer earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7949741c-a0d2-4436-bf55-3edd518bd8e6\/adnoc-seals-covestro-takeover-in-largest-investment-from-middle-east-player-in-europe\" style=\"\" rel=\"noopener\">October<\/a> to acquire German chemicals company Covestro for EUR 14.7 bn, which is expected to close soon. The company is also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4712abb5-5e8f-4d08-82b0-c44edac0dea7\/adnoc,%253cmark%253e-borouge%253c%2Fmark%253e-to-develop-polyolefins-complex-in-china\" style=\"\" rel=\"noopener\">merge<\/a> its plastics unit Borouge with Austria-based integrated oil and gas company OMV\u2019s Borealis, but the transaction is facing delays. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adnoc launches USD 80 bn investment company: Abu Dhabi National Oil Company (Adnoc) launched XRG, an international investment company focused on lower-carbon energy and chemicals, with an investment value over USD 80 bn, according to a press release. The company plans to double its asset value over the next decade, and will hold a global [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[183,44,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82714","post","type-post","status-publish","format-standard","hentry","category-investment-watch","tag-adnoc","tag-investment-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"caab9352-d19d-4c4a-a14e-3cd5837a1d25","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/559.jpgbr!_StoryDek_!%20XRG%20will%20aim%20to%20double%20its%20asset%20value%20from%20the%20current%20USD%2080%20bn%20over%20the%20next%20decade","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc launches XRG to invest in low-carbon energy and chemicals","related_issue":[82709],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.a22d9bff-dd2e-4131-b09d-c6200bf61157.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Adnoc launches XRG to invest in low-carbon energy and chemicals - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adnoc launches XRG to invest in low-carbon energy and chemicals\" \/>\n<meta property=\"og:description\" content=\"Adnoc launches USD 80 bn investment company: Abu Dhabi National Oil Company (Adnoc) launched XRG, an international investment company focused on lower-carbon energy and chemicals, with an investment value over USD 80 bn, according to a press release. The company plans to double its asset value over the next decade, and will hold a global [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\" \/>\n<meta property=\"og:site_name\" content=\"Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-28T00:00:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Adnoc launches XRG to invest in low-carbon energy and chemicals\",\"datePublished\":\"2024-11-28T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"keywords\":[\"Adnoc\",\"INVESTMENT WATCH\",\"UAE\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/adnoc-launches-xrg-to-invest-in-low-carbon-energy-and-chemicals\/\",\"name\":\"Adnoc launches XRG to invest in low-carbon energy and chemicals - 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