ADNOC to acquire a 35% stake in low-carbon hydrogen facility from ExxonMobil.

ADNOC, a state-owned oil company, agreed to acquire a 35% stake in low-carbon hydrogen facility from ExxonMobil, an international petroleum and petrochemical company. Financial terms were not disclosed. "This strategic investment is a significant step for ADNOC as we grow our portfolio of lower-carbon energy sources and deliver on our international growth strategy. We look forward to partnering with ExxonMobil on this low carbon-intensity and technologically advanced project to meet rising demand and help decarbonize heavy-emitting sectors,” Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO.