Adnoc’s $80bn XRG subsidiary is due to formally start operations by the end of next month. But, while a framework for its operations has been gradually emerging, the exact remit of what Adnoc says will be a “groundbreaking international lower-carbon energy and chemicals investment company” remains undefined. Work is ongoing behind the scenes.
XRG’s board was approved in December (MEES, 13 December 2024), but there has yet to be an announcement on who will be CEO. Musabbeh al-Kaabi, Adnoc’s erstwhile Executive Director of its Low Carbon Solutions & International Growth Directorate, had appeared a frontrunner before he was appointed Adnoc’s Upstream CEO on 1 January. (CONTINUED - 1750 WORDS)
