ADNOC plans to allocate its ownership stake of  24.9% in OMV AG (OMV) to XRG P.J.S.C. (XRG), its fully owned international investment arm. This planned transfer is pending regulatory approvals.It is expected to support ADNOC’s strategy to centralize its global investment activities under XRG.

ADNOC is also moving forward with plans to establish Borouge Group International, aiming to become one of the world’s top four producers of polyolefins. ADNOC’s proposed 46.94% shareholding in the new entity is expected to be held by XRG upon completion of the transaction, subject to regulatory approvals.

Through XRG, ADNOC remains dedicated to its strong, ongoing partnership with OMV and reiterates its commitment to supporting OMV’s future development and achievements.

XRG P.J.S.C. is a wholly owned international investment platform launched by ADNOC in 2024 to consolidate and grow its global portfolio across chemicals, gas, and low-carbon energy. The company plays a key role in ADNOC’s international strategy, managing major global assets and partnerships, while supporting the energy transition and long-term value creation.