What Is ADNOC and Who Owns It? Ownership, Leadership and Production

Last updated: November 11, 2026

The Abu Dhabi National Oil Company (ADNOC) is the state-owned oil and gas company of the Emirate of Abu Dhabi and one of the largest energy producers in the world. Wholly owned by the Abu Dhabi government, ADNOC operates across the full hydrocarbon value chain — upstream exploration and production, gas processing, refining, petrochemicals, shipping, and low-carbon investment — and is central to the United Arab Emirates’ role as a top-10 global oil producer.

Overview

Ownership & Shareholders

ADNOC itself is wholly owned by the Abu Dhabi government and is not publicly traded. However, several of its operating subsidiaries have been partially listed on the Abu Dhabi Securities Exchange (ADX) since 2017, with ADNOC retaining majority — typically 70–90% — voting control in each. Listed units include ADNOC Distribution, ADNOC Drilling, ADNOC Gas, and ADNOC Logistics & Services. Ultimate decision-making authority over ADNOC sits with Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA), which has held that role since a 2020 restructuring.

Leadership

As of September 2026:

Dr. Al Jaber also serves concurrently as UAE Minister of Industry & Advanced Technology, Executive Chairman of ADNOC’s investment arm XRG, and Chairman of clean-energy company Masdar — a set of overlapping roles that place him at the center of the UAE’s energy, industrial, and climate policy apparatus.

Subsidiaries & Business Areas

ADNOC operates through a group of specialized subsidiaries and joint ventures spanning the full energy value chain:

• ADNOC Onshore / Offshore / Sour Gas — upstream exploration and production
• ADNOC Drilling — drilling and well services (ADX-listed)
• ADNOC Gas — integrated gas processing and sales, ADX-listed with a market capitalization exceeding $70 billion, led by CEO Fatema Mohamed Al Nuaimi
• ADNOC Refining and the Ruwais refining and petrochemicals complex
• ADNOC Distribution — fuel retail, ADX-listed, roughly $9.4 billion in annual revenue and 13,000 employees
• ADNOC Logistics & Services — shipping and marine logistics (ADX-listed)
• ADNOC Global Trading — crude, products and LNG trading joint venture
• TA’ZIZ — chemicals and derivatives investment platform
• XRG — ADNOC’s international low-carbon energy, gas and chemicals investment vehicle, launched in 2024 with an initial enterprise value above $80 billion and reported to have grown past $150 billion in value by 2026
• Masdar — clean-energy investment company, chaired by Dr. Al Jaber (covered separately by TDE)

Countries of Operation

ADNOC’s core production base is the Emirate of Abu Dhabi, UAE, but its footprint extends internationally through XRG and joint ventures — including a stake in the Rio Grande LNG export project in the United States and a Turkmenistan gas field partnership alongside Malaysia’s Petronas.

Major Projects & Current Investments

• 5 million bpd capacity expansion — ADNOC is investing to lift sustainable crude production capacity from roughly 4.85 million bpd to 5 million bpd, targeted before 2027.
• XRG international expansion — XRG holds equity across all five trains under construction at NextDecade’s Rio Grande LNG terminal in Texas (an initial indirect 11.7% stake in Phase 1, Trains 1–3, plus an additional 7.6% in Trains 4 and 5 acquired via a transaction completed July 2, 2026), alongside a 38% stake (with Petronas) in a Turkmenistan gas field and ADNOC’s own 20-year, 1.9 mtpa Henry Hub-indexed LNG offtake agreement for Rio Grande Train 4. See TDE’s full Rio Grande LNG project profile.
• Absheron Full Field Development (Azerbaijan) — XRG holds a 30% stake alongside operator TotalEnergies (35%) and SOCAR (35%) in a Caspian Sea gas and condensate expansion sanctioned via FID in September 2026, targeting 6 bcma of gas by 2029. See TDE’s full Absheron project profile.
• Ruwais LNG — a $5.5 billion, 9.6 mtpa LNG export terminal under construction at Al Ruwais, 60% owned by ADNOC alongside 10% stakes each for Shell, bp, TotalEnergies and Mitsui & Co; first train targeted for second half of 2028. See TDE’s full Ruwais LNG project profile.
• Ruwais Diyab Unconventional Gas Development — ADNOC’s first large-scale unconventional gas project, sanctioned via FID on November 2, 2026 at ADIPEC 2026; targeting 345 MMscfd of raw gas from 2029, scalable toward 1 Bcfd, with TotalEnergies holding a minority interest. See TDE’s full Ruwais Diyab project profile.
• Hail and Ghasha Sour Gas Development — ADNOC’s offshore sour gas megaproject in the Ghasha concession, sanctioned via FID in October 2023 with ~$16.94 billion in EPC contracts awarded; targeting more than 1.5 bcfd of gas (long-term guidance toward 1.8 bcfd) from year-end 2029, with Eni and PTTEP (via Seela Energies B.V.), OMV and Lukoil holding minority stakes. See TDE’s full Hail and Ghasha project profile.
• North West Shelf (NWS) LNG stake acquisition (Australia, pending) — XRG subsidiaries agreed on November 3, 2026 to acquire Shell’s 16.67% non-operated interest in Australia’s Woodside-operated North West Shelf LNG venture for a $1.45 billion base consideration plus a milestone-linked contingent payment; the deal has an effective date of January 1, 2026 and is expected to close in 2027, subject to regulatory approvals. It would be XRG’s first Australian asset.

Status label: Under construction / expanding for the 5 million bpd program (as of September 2026); verify current phase against ADNOC’s official releases before citing in a financial context.

Careers

ADNOC and its listed subsidiaries recruit across engineering, drilling, HSE, digital and corporate functions, primarily through each entity’s own careers portal. TDE tracks open roles separately — see our Investments and company hubs for the latest verified openings as they are published.

Recent News

See TDE’s ongoing coverage of ADNOC and the wider UAE energy sector in our Oil & Gas and Companies sections.

Related Entities

• Saudi Aramco — regional peer and fellow OPEC+ national oil company
• OPEC — the UAE is a member state and ADNOC production factors into OPEC+ quota compliance
• LNG — background on the liquefied natural gas market ADNOC is expanding into via Ruwais LNG and Rio Grande LNG
• XRG — ADNOC’s international investment arm (profile forthcoming on TDE)
• Masdar — chaired by ADNOC Group CEO Dr. Sultan Al Jaber (profile forthcoming on TDE)
• Ruwais Diyab Unconventional Gas Development — ADNOC’s first large-scale unconventional gas project, FID taken November 2026
• Hail and Ghasha Sour Gas Development — ADNOC’s offshore sour gas megaproject in the Ghasha concession

Sources

• ADNOC — Official Leadership Page
• ADNOC — XRG Launch Press Release
• AGBI — ADNOC 5 million bpd target
• Argus Media — ADNOC capacity coverage
• Gulf News — XRG Turkmenistan stake
• Oil & Gas Journal — ADNOC takes FID on Ruwais Diyab unconventional gas development
• Offshore Engineer — Shell to exit Australia’s North West Shelf project in $1.45B deal with XRG

Frequently Asked Questions

Who owns ADNOC?

ADNOC is 100% owned by the Government of the Emirate of Abu Dhabi. It is not a publicly traded company, though several of its subsidiaries have minority stakes listed on the Abu Dhabi Securities Exchange.

Who is the CEO of ADNOC?

Dr. Sultan Ahmed Al Jaber has been Managing Director and Group CEO of ADNOC since 2016.

How much oil does ADNOC produce?

ADNOC’s sustainable crude oil production capacity is approximately 4.85 million barrels per day as of 2026, with a target of 5 million bpd by 2027.

What is XRG?

XRG is ADNOC’s international investment arm for low-carbon energy, gas, and chemicals, launched in 2024 with an initial enterprise value above $80 billion.

Illustrative image. Photo: giggel, CC BY 3.0, via Wikimedia Commons — source