Adnoc consolidates listed assets under XRG: Abu Dhabi National Oil Company (Adnoc) transferred its equity stakes in Adnoc Distribution, Adnoc Gas, and Adnoc Logistics and Services to its wholly owned subsidiary XRG, according to an ADX disclosure (pdf). The share transfer of Adnoc Drilling will follow pending regulatory approvals, the company said, adding that the move will not affect the operations, dividend policies, or strategies of the companies involved.

IN CONTEXT- The transfers are part of Adnoc’s strategy to consolidate its listed holdings under XRG, the international energy investment arm it launched in 2024. XRG manages some USD 80 bn in assets and is looking to double that figure over the next decade under a five-year plan — including planned acquisitions of Germany’s Covestro and Australia’s Santos.

More transfers ahead: In July, Adnoc said it would shift its 24.9% stake in Austria’s OMV to XRG. The unit is also set to hold a 46.9% stake in Borouge Group International once the planned merger of Borouge, Borealis, and Nova Chemicals is completed.

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