Abu Dhabi National Oil Company (ADNOC) said on Thursday it has transferred its shareholdings in several of its listed subsidiaries to XRG, its international investment arm for which it has ambitious growth plans.

The state oil giant said the transfers, including stakes in ADNOC Distribution, ADNOC Drilling, ADNOC Gas, and ADNOC Logistics & Services, will not affect the operations, leadership or strategic direction of the companies, including dividend policies. ADNOC owns a 100% stake in XRG so ultimate control will not change.

"These internal transfers will further strengthen XRG's size and financial position, and drive its long-term development, through access to stable and attractive dividend streams, supported by the listed companies' existing disciplined growth and capital return agendas," ADNOC said.

The transfers of ADNOC's stakes in ADNOC Distribution, ADNOC Gas and ADNOC Logistics & Services were completed earlier on Thursday via off-market transactions on the Abu Dhabi Securities Exchange (ADX). The transfer of ADNOC Drilling will follow pending regulatory approvals.

ADNOC also said its entire stake in fertilizer maker Fertiglobe is already held through XRG. It reiterated plans to transfer its stake in the planned Borouge Group International (BGI) to XRG once the transaction is completed and approved. BGI is a new entity to be formed through the merger of Borouge and Austria's Borealis, which will also acquire Canada's NOVA Chemicals.

Launched in November 2024, XRG is ADNOC's vehicle for international energy investments, with a focus on natural gas, chemicals and scalable energy solutions.