Abu Dhabi-based energy group XRG has entered into a strategic partnership with BP to establish a joint venture aimed at developing a state-of-the-art natural gas platform. The move marks a significant step in the region’s ongoing efforts to expand its energy infrastructure while aligning with global trends towards cleaner energy solutions.

Bernard Looney, the former chief executive of BP, has joined the board of XRG, a new company created by Abu Dhabi’s national oil company Adnoc to invest in global energy assets.

BP and Abu Dhabi National Oil Company's international investments arm XRG said on Monday they have closed a deal for a new natural gas joint venture in Egypt, as ADNOC expands its efforts to grow abroad.

The concessions assigned to Arcius Energy in Egypt include several key assets. One of these is the Shorouk concession, in which bp holds a 10% interest. This concession contains t

Arcius 51% owned by BP, 49% Adnoc Venture to begin operations in Egypt Former Adnoc VP appointed CEO BP and XRG, the new lower carbon energy and chemicals investment company set up by Abu Dhabi National Oil Company (Adnoc),