ExxonMobil has partnered with Abu Dhabi National Oil Company (ADNOC) to build a world-scale low-carbon hydrogen and ammonia production facility in Baytown, Texas. This project, expected to be operational in 2029, will produce enough hydrogen to power millions of homes and signifies ExxonMobil’s commitment to reducing emissions and meeting the growing demand for low-carbon fuels.
An investigation by Global Witness reveals that the UAE’s state-owned oil company, ADNOC, sought nearly $100 billion worth of oil, gas, and petrochemical deals during the COP28 climate summit in Dubai. The report alleges that ADNOC leveraged its prestige as COP host to pursue these deals, including a joint venture with BP and bids for stakes in Braskem and Petrobras. Global Witness warns that this could set a dangerous precedent for future COPs, with the incoming host, Azerbaijan, potentially seeking to emulate UAE’s approach.
