Abu Dhabi, UAE | Sep 12, 2025 (The Arabian Wall Street) — In a strategic restructuring move, the Abu Dhabi National Oil Company (Adnoc) has announced the transfer of its equity stakes in several listed subsidiaries to its wholly-owned investment arm, XRG (International Energy Investment Company).
Despite the internal reallocation, Adnoc emphasized that it will retain full control and ultimate ownership of the entities through its 100% shareholding of XRG, underscoring its commitment to long-term value creation, capital discipline, and predictable returns.
The internal share transfers, described as administrative in nature, will not affect the day-to-day operations, leadership teams, or strategic direction of the listed companies. Importantly, dividend policies remain unchanged, maintaining Adnoc’s track record of delivering sustainable payouts to investors.
The transfer covers Adnoc’s major listed entities, including:
- Adnoc Distribution
- Adnoc Drilling Company
- Adnoc Gas
- Adnoc Logistics & Services
Additionally, Adnoc reaffirmed that its entire stake in Fertiglobe is already held through XRG. The company also reiterated plans to consolidate its petrochemicals portfolio. Pending regulatory approvals, the upcoming merger of Borouge and Borealis AG into Borouge Group International (BGI) — with BGI set to acquire NOVA Chemicals — will see Adnoc’s full stake in BGI transferred to XRG.
The transfer of majority shareholdings in Adnoc Distribution, Adnoc Gas, and Adnoc Logistics & Services was completed via an off-market transaction on the Abu Dhabi Securities Exchange (ADX). The transfer of Adnoc Drilling shares will follow regulatory approval.
By consolidating its assets under XRG, Adnoc aims to strengthen the investment company’s scale and financial position, providing access to stable dividend streams and supporting long-term development strategies.
Industry observers view this move as part of Adnoc’s broader effort to streamline its global investment portfolio, enhance financial flexibility, and position XRG as a key vehicle for international energy expansion.
