UAE state oil giant Adnoc on 27 November announced “the launch of XRG, a groundbreaking international lower-carbon energy and chemicals investment company, with an enterprise value of over $80bn.”
XRG, which “will formally commence activities in 1Q 2025,” “aims to more than double its asset value over the next decade by capitalizing on demand for low-carbon energy and chemicals driven by three megatrends: the transformation of energy, exponential growth of AI, and the rise of emerging economies,” Adnoc says. (CONTINUED - 212 WORDS)