Abu Dhabi National Oil Company (ADNOC) has announced its intention to transfer its 24.9% stake in the Austrian company OMV Aktiengesellschaft (OMV) to its wholly owned subsidiary XRG, which specialises in international investments. This transaction remains subject to the approval of the relevant regulatory authorities and is part of the company’s strategy to centralise its global holdings under the XRG banner to optimise asset portfolio management.
Streamlining international investments
ADNOC states that this transfer does not alter its relationship with OMV, a long-standing partner of the group, and that its commitment to the Austrian company will be maintained through XRG. This repositioning is intended to reinforce the coherence of ADNOC’s shareholding structure at the global level, in line with its strategy of growth and diversification in energy investments. The company indicates that its support for OMV’s future development remains unchanged.
At the same time, ADNOC is making progress in preparing the creation of Borouge Group International, a new entity specialising in polyolefin production, which is expected to be among the world’s top four players in this sector. According to published information, ADNOC’s planned stake in this entity would reach 46.94%, also held through XRG, subject to the necessary regulatory approvals.
Asset consolidation and new projects
The consolidation of ADNOC’s holdings under XRG is taking place in a context of transformation among Gulf national oil companies, which are favouring the creation of dedicated international investment platforms. This approach enables greater flexibility in asset management and speeds up the geographic diversification of portfolios.
The various initiatives announced highlight ADNOC’s intention to increase visibility and control over its strategic assets internationally, while continuing to structure major new industrial projects. Gulf Business reported that the completion of these transactions will depend on obtaining regulatory agreements in the relevant jurisdictions.
According to ADNOC, the partnership with OMV as well as the Borouge Group International project illustrate the company’s ongoing shift towards centralised and structured management of its holdings, supporting its growth ambitions on a global scale.
