Abu Dhabi National Oil Company (ADNOC) has transferred its equity stakes in several listed subsidiaries to XRG, its wholly-owned investment arm. The companies affected are ADNOC Distribution, ADNOC Gas, ADNOC Logistics & Services, and ADNOC Drilling, though the transfer of ADNOC Drilling awaits regulatory approval.
ADNOC remains the ultimate owner through its complete ownership of XRG. It confirmed that the changes will not alter the daily operations, leadership structures or strategic direction of the listed firms. Dividend policies will stay in place.
The transfer of stakes in Distribution, Gas and Logistics & Services was carried out via off-market transactions on the Abu Dhabi Securities Exchange (ADX).
The move is part of ADNOC’s wider strategy to consolidate its investment portfolio under XRG, improve asset and capital management, and strengthen access to steadier dividend income streams. ADNOC also said its stake in Fertiglobe is already held through XRG. Once the proposed Borouge Group International (BGI) transaction, combining Borealis AG, Borouge, and NOVA Chemicals, is complete and receives approvals, ADNOC’s full stake in BGI will also move into XRG.
