Reported about 11 hours ago
ADNOC has moved its U.S. investments into a new international investment arm called XRG, which aims to focus on lower carbon energy and chemical projects. This includes stakes in an ExxonMobil hydrogen plant and NextDecade's LNG facility. Announced in November, XRG is expected to be valued at over $80 billion and will also acquire a majority stake in Covestro, a German chemicals company. ADNOC's CEO emphasized the need for a diverse energy portfolio to meet future demands influenced by emerging technologies and markets.
Source: YAHOO