ADNOC Announces Transfer of 24.9% OMV Stake to XRG Unit

The Abu Dhabi National Oil Company (ADNOC) has revealed plans to transfer its 24.9% equity stake in OMV AG to its wholly owned international investment arm, XRG P.J.S.C. This move underscores ADNOC’s intent to restructure its international assets under a unified platform.

Aligning with Strategic International Investment Goals

The planned stake transfer, which awaits regulatory approval, reflects ADNOC’s broader ambition to streamline its overseas investment portfolio. By consolidating global holdings under XRG, ADNOC aims to sharpen its focus on international growth and long-term value creation.

Advancing a Major Global Polyolefins Venture

In parallel with the stake transfer, ADNOC is actively laying the groundwork for the launch of Borouge Group International. Once established, this new company is expected to rank among the top four global producers of polyolefins. Subject to regulatory clearance, ADNOC plans to hold a 46.94% interest in the new venture through XRG, further strengthening its position in the global petrochemicals landscape.

Reaffirming Commitment to Strategic Partnerships

Despite this structural transition, ADNOC remains fully committed to its enduring collaboration with OMV. Through XRG, the company will continue to support OMV’s future growth and strategic direction, reinforcing the strength and continuity of their partnership.