Latest news with #JonGray
Reuters
7 days ago
- Business
- Reuters
XRG targets gas, LNG capacity of 20-25 million tons per year by 2035
DUBAI, June 3 (Reuters) - XRG, the international investment arm of Abu Dhabi National Oil Company, said on Tuesday it aims to have a gas and LNG business with capacity of between 20 million and 25 million metric tons per annum by 2035. XRG's board, which includes former BP CEO Bernard Looney and Blackstone's Jon Gray, approved a five-year business plan that aims to create an integrated gas and LNG business that included the capacity target, XRG said in a statement. The board also "supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position," XRG said. ADNOC Chief Executive Sultan Al Jaber, who is also XRG's executive chairman, said during U.S. President Donald Trump's visit to Abu Dhabi last month that the enterprise value of ADNOC's energy investments in the U.S. would rise to $440 billion in the next decade from $70 billion. He also said in March that XRG would make a significant investment in U.S. natural gas in coming months. ADNOC had agreed in October to buy German chemicals maker Covestro for 14.7 billion euros including debt. Jaber later said it would sit under XRG. XRG also reached a deal in March with Austria's OMV to merge their petrochemicals businesses Borouge and Borealis to create a firm with an enterprise value of $60 billion. The board on Tuesday "endorsed the company's ambition to create a top three global chemicals platform," XRG said. XRG had said that along with gas and chemicals, low carbon energies would be its other major focus. Its statement on Tuesday, pointing to artificial intelligence-linked demand for power, particularly in the U.S., said the board directed XRG's Energy Solutions platform to "expand its investments across the energy value chain while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles."
Yahoo
08-05-2025
- Business
- Yahoo
Blackstone's Gray on Trade Deals, Real Estate, Inflation
Blackstone President Jon Gray says he expects some countries will strike trade deals with the US "fairly soon," and the effective tariff rate will be around 10%. Gray says the uncertainty around a trade war is likely to slow down GDP growth. He also talks about the AI revolution, real estate and inflation in the US. He speaks to Bloomberg's Sonali Basak at the Milken Conference.
Bloomberg
07-05-2025
- Business
- Bloomberg
Blackstone's Jon Gray Gives $125 Million to Tel Aviv Medical School
Blackstone Inc. President Jon Gray and his wife Mindy have donated $125 million to Tel Aviv University's medical school, the largest gift ever to the school and among the largest to an academic institution in Israel. The Grays' donation to the medical school, which will now bear their name, will enable Tel Aviv University to increase the number of students there by about 25% a year to more than 400. Israel has been grappling with a shortage of physicians, mainly due to too few spots in the country's institutions.
Yahoo
07-05-2025
- Business
- Yahoo
Blackstone's Gray Dispels Myths About Private Equity
Blackstone's Jon Gray says the myth of private equity buying and deconstructing companies, as propagated in the 1990 movie Pretty Woman, is just not the way to make money. He also talks about the explosion of private credit during a panel discussion at the Milken Conference.
Bloomberg
06-05-2025
- Business
- Bloomberg
Blackstone's Gray on Trade Deals, Real Estate, Inflation
Blackstone President Jon Gray says he expects some countries will strike trade deals with the US 'fairly soon,' and the effective tariff rate will be around 10%. Gray says the uncertainty around a trade war is likely to slow down GDP growth. He also talks about the AI revolution, real estate and inflation in the US. He speaks to Bloomberg's Sonali Basak at the Milken Conference. (Source: Bloomberg)
