Gate News message, April 16 — XRG, the global investment arm of state-backed Abu Dhabi National Oil Company (Adnoc), is exploring merger and acquisition opportunities in Europe, according to Rainer Seele, president of XRG’s chemicals platform. The company previously completed a three-way merger to establish Borouge Group International, a $60 billion petrochemical giant with the world’s fourth-largest nameplate production capacity (total installed production capacity of a facility).
Seele stated that XRG remains positive about Europe’s long-term outlook despite widespread investor skepticism. Higher natural gas prices have pressured European petrochemical manufacturers’ profitability, forcing production cutbacks. In March, Adnoc suspended operations at the Ruwais refinery as a precautionary measure following a drone strike linked to the Iran conflict that caused a fire in the vicinity. Most products will be stored until the conflict concludes, though some shipments have already departed from Ruwais.
XRG is targeting 20-25 million metric tonnes per year of LNG (liquefied natural gas) capacity by 2035. The Adnoc subsidiary, established to pursue acquisitions in natural gas, chemicals, and energy sectors, previously acquired Germany’s Covestro for $17 billion.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin falls below $78,000, as negotiations between the U.S. and Iran again hit a stalemate, pushing up oil prices
Bitcoin slipped below $78,000 during Asian early trading on Monday, April 27; meanwhile, with the U.S.-Iran second round of peace talks falling through again, the price of Brent crude oil rose 1% to $106.50 per barrel. U.S. crude oil (WTI) rose in tandem by 1% to $95.40 per barrel. Ether was quoted at $2,335.24, and Ripple was quoted at $1.4230.
MarketWhisper1h ago
IEA: AI infrastructure spending has already surpassed investment in oil and gas production, and is expected to increase another 75% in 2026
According to analysis and market data published by the International Energy Agency (IEA) on April 26, the combined capital expenditures of the world’s top five technology companies in 2025 exceed $400 billion, with most of the spending going toward building AI infrastructure. The scale has already surpassed the annual investment level of global oil and natural gas production. The IEA estimates that the related capital expenditures may further increase by 75% in 2026.
MarketWhisper1h ago
U.S. Treasury Yields Rise Amid Middle East Tensions; Fed Rate Decision Looms This Week
Gate News message, April 27 — U.S. Treasury yields climbed during Asian trading hours on April 27, with the 2-year yield rising 2.3 basis points to 3.798% and the 10-year yield gaining 1.4 basis points to 4.323%, according to Tradeweb data. Persistent Middle East tensions kept oil prices elevated, w
GateNews1h ago
The Panama Canal Effect of the Port of Hormuz: Companies pay up to $4 million to get ahead of the Panama Canal
Since the stalemate in the Strait of Hormuz, global shipping companies have increasingly rerouted through the Panama Canal; without a reservation, participation must be won through auction bidding, with the highest bid reaching about $4 million. Case examples show that a ship originally bound for Europe with fuel was rerouted to Singapore, resulting in additional costs of up to $4 million. The insurance industry also classifies Hormuz as a high-risk war zone, making it difficult to return to the 2025 level in the near term; Panama has also protested Iran’s detention of MSC Francesca.
ChainNewsAbmedia2h ago
Citigroup Raises 2026 Brent Crude Price Forecasts, Eyes $150/Barrel if Hormuz Disruptions Persist
Gate News message, April 27 — Citigroup raised its price forecasts for Brent crude oil (the international benchmark for crude oil pricing) for the remainder of 2026 on Sunday evening. The bank now projects average prices of $110 per barrel for Q2, $95 per barrel for Q3, and $80 per barrel for
GateNews4h ago
Whale Deposits $2M USDC to HyperLiquid, Opens Leveraged Short Positions on Oil
Gate News message, a whale deposited $2 million USDC into HyperLiquid and opened short positions of 21,000 BRENTOIL and 19,000 CL with 3x leverage.
GateNews5h ago
