By: AGBI

The six listed subsidiaries of Abu Dhabi National Oil Company (Adnoc) plan to distribute AED158 billion ($43 billion) in dividends between 2025 and 2030.

The amount is double the AED86 billion the subsidiaries have cumulatively paid since fuel and conveniences retailer Adnoc Distribution first listed on the Abu Dhabi Securities Exchange (ADX) in 2017, Adnoc said in a statement.

The other listed subsidiaries are Adnoc Drilling, Adnoc Gas, Adnoc Logistics & Services, Borouge and Fertiglobe.

The six listed companies account for more than AED550 billion of market capitalisation and nearly 40 percent of the annual dividends paid on the ADX.

The state-owned oil company said Adnoc Distribution, Adnoc Gas and Adnoc L&S would join Adnoc Drilling in paying quarterly dividends, offering more frequent returns to investors.

The statement also said Adnoc’s gas subsidiary had signed a 20-year supply agreement with Ruwais LNG valued at AED147 billion. Feedstock will be provided to the UAE’s LNG plant, which is expected to begin output in 2028. The facility will more than double Adnoc’s LNG capacity.

The merger of Adnoc’s Borouge and Austrian energy group OMV’s Borealis to create Borouge Group International (BGI) is on track and will be completed by the first quarter of 2026, with the majority of pre-completion regulatory approvals received, Adnoc confirmed.

Financing from global banks for the deal, worth AED56.6 billion, has been secured, including for the acquisition of Nova Chemicals.

Adnoc and OMV expect annual benefits of AED1.8 billion from the BGI deal, with the new entity set to become the world’s fourth-largest polyolefins group, the statement said.