Adnoc To Buy 35% Stake In ExxonMobil’s Blue Hydrogen Plant

Abu Dhabi-based energy company Adnoc has agreed to acquire a 35% equity stake in Exxon Mobil's (NYSE:XOM) proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, according to various media reports.  The project is set to become the “world’s largest” of its kind, with a production capacity of up to 1 billion cubic feet daily of blue hydrogen, with about 98% of carbon dioxide removed, as well as more than 1 million tonnes of low-carbon ammonia per year, Adnoc revealed in a statement on Wednesday. The…