Adnoc has announced its plan to acquire a 35% stake in ExxonMobil's blue hydrogen and ammonia production facility in Baytown, Texas. The joint announcement by the two companies highlighted the intention to proceed with the project, contingent on supportive government policies and regulatory approvals, with the aim of making a Final Investment Decision in 2025 and commencing operations in 2029. The agreement, signed by Adnoc CEO Sultan al-Jaber and ExxonMobil CEO Darren Woods, was witnessed by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, indicating high-level support for the collaboration. This partnership signifies a significant step towards sustainable energy production, with a focus on hydrogen. Adnoc and ExxonMobil have a history of collaboration, with ExxonMobil already having a stake in Abu Dhabi's oil concession. The alliance underscores the importance of international partnerships in driving energy transition initiatives and underscores the positive sentiment towards hydrogen as a key component of the future energy landscape.