ADNOC internally transfers its shares in several companies to XRG

The companies included in the transfer are Abu Dhabi National Oil Company for Distribution (ADNOC Distribution), ADNOC Drilling Company, ADNOC Gas and ADNOC Logistics and Services.

The transfer of ADNOC’s majority shareholdings in ADNOC Distribution, ADNOC Gas, and ADNOC Logistics & Services was effected on Thursday, through an off-market transfer on the ADX, with the share transfer of ADNOC Drilling to occur following regulatory approvals.

ADNOC internally transfers shares to XRG

ADNOC’s entire stake in Borouge Group International (BGI) – the company that will be formed after the planned combination of Borouge plc and Borealis AG (Borealis) upon receipt of regulatory approvals, as well as the acquisition of NOVA Chemicals – will also be transferred to and held by XRG.

ADNOC will continue to retain control and ultimate ownership of the listed companies through its 100 per cent shareholding of XRG.

The internal administrative share transfers will have no impact on the day-to-day operations, leadership teams, or strategic direction of the listed companies.

The dividend policies of the listed companies also remain unchanged, consistent with ADNOC’s track record of delivering predictable and sustainable returns.

In a statement, ADNOC said: “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.”

The listed companies’ capital allocation frameworks, indebtedness targets and M&A strategies remain unchanged.

Launched in November 2024, XRG is wholly owned by ADNOC and aims to become a transformative international energy investment company, focused on natural gas, chemicals and scalable energy solutions to help power AI and industry globally.