ADNOC acquires 35% stake in ExxonMobil's low-carbon hydrogen and ammonia facility in Texas.

The Abu Dhabi National Oil Company (ADNOC) will acquire a 35% stake in ExxonMobil's proposed low-carbon hydrogen and ammonia facility in Baytown, Texas. Projected to be the world's largest of its kind, it aims to produce 1 million tons of low-carbon ammonia annually and remove 98% of carbon dioxide. The final investment decision is expected in 2025, with production slated for 2029, aligning with ADNOC's commitment to lower-carbon energy sources.

September 04, 2024
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