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Article Summary
- UAE's oil giant launches $80 billion chemicals and green energy firm
- The new firm aims to boost the country's non-oil economy
- The firm will focus on producing chemicals and green energy projects
- The UAE is seeking to diversify its economy away from oil
- The move signifies a shift towards sustainability and renewable energy Tone: Positive, optimistic about the UAE's efforts to diversify its economy and embrace green energy initiatives.
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UAEs Oil Giant Launches $80-Billion Chemicals And Green Energy Firm
Abu Dhabis oil company ADNOC is launching a new firm, XRG, which will be an international lower-carbon energy and chemicals investment company with an enterprise value of over $80 billion, the company pumping nearly all the oil of the United Arab Emirates (UAE) said on Wednesday. XRG will formally commence activities in the first quarter of 2025. Initially, XRG will focus on transformational gl...
https://oilprice.com/Latest-Energy-News/World-News...
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