The national oil company of the United Arab Emirates, led by chief executive Sultan Al Jaber. Together with Saudi Aramco, ADNOC has been on a dealmaking binge: their combined acquisitions rose from $11bn in 2022 to $29bn in 2024.
In 2024 ADNOC established XRG, a division for overseas investments. In June 2025 XRG made a $19bn bid for Santos, an Australian gas producer. It has also acquired liquefied-natural-gas assets in America, Mozambique and Turkmenistan. XRG secured a deal to combine the polyolefin businesses of ADNOC and OMV, an Austrian oil-and-gas company, and acquire Nova Chemicals, a Canadian firm. In October 2024 it bought Covestro, a German specialty-chemicals company, for $16bn.
ADNOC owns about a quarter of Masdar, a clean-energy firm launched and chaired by Mr Al Jaber. It has also invested in Storegga Geotechnologies, a British carbon-capture firm (buying a tenth in 2023), and taken a 35% stake in a low-carbon hydrogen-and-ammonia plant in Texas being developed by ExxonMobil.
AIQ, a joint venture between ADNOC and Presight, an Emirati AI firm, has helped the company develop an AI tool trained on its data to optimise logistics, seismic analysis and other operations.
He moved in a way that suggested he was attempting the world speed record for the nonchalant walk.