Abu Dhabi National Oil Company (ADNOC)

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06.03.2025 • News

ADNOC and OMV to Create Global Polyolefins Group

OMV and ADNOC agreed to combine their Borealis and Borouge shareholdings into Borouge Group International. ADNOC has also signed a share purchase agreement with Nova Chemicals, an indirect wholly owned subsidiary of Mubadala Investment Company, to acquire 100% of Nova Chemicals for an enterprise value of $13.4 billion. In addition, ADNOC and OMV have agreed for Borouge Group International to take over Nova Chemicals after closing.

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24.07.2024 • News

Borouge, ADNOC, Borealis and Wanhua Chemical Explore China Polyolefins Project

Borouge, in a consortium with ADNOC and Borealis, and China’s Wanhua Chemical, together with Wanrong New Materials, a subsidiary controlled by Wanhua, signed a project collaboration agreement for a feasibility study to develop a 1.6 million t/y specialty state-of-the-art polyolefin complex in Fuzhou, Fujian Province, China.

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04.03.2024 • News

ADNOC Completes Acquisition of 24.9% Stake in OMV

Abu Dhabi National Oil Company (ADNOC) has completed the acquisition of a 24.9% stake in Austrian energy group OMV from Mubadala, the sovereign wealth fund of the United Arab Emirates. Financial details of the transaction, which was announced in December 2022, were not disclosed.

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18.12.2023 • News

ADNOC to Acquire OCI’s Stake in Fertiglobe for $3.6 Billion

Abu Dhabi National Oil Company (ADNOC) has agreed to acquire OCI Global's entire majority stake in fertilizer producer Fertiglobe for $3.62 billion. Fertiglobe is a joint venture established in October 2019 between the state-owned oil company of the United Arab Emirates (UAE) and the Dutch fertilizer and industrial chemicals group.

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23.06.2023 • News

Covestro Said to Reject ADNOC Buyout Offer

German engineering plastics producer Covestro has rejected an initial takeover proposal from Abu Dhabi National Oil Co (ADNOC) as too low, the Bloomberg news agency reports, citing “people familiar with the matter.”

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22.06.2023 • News

Lanxess Warns on Earnings as Buyout Talk Circles Covestro

Two former spinoffs from Bayer were competing for headlines on Jun. 19 and 20, as specialty chemicals company Lanxess issued a profit warning amid rumors that Middle East chemicals and energy behemoth Abu Dhabi National Oil Company (ADNOC) had made a takeover offer for engineering plastics producer Covestro.

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11.05.2023 • News

Braskem and Novonor Confirm Private Equity Bids

Braskem and its controlling shareholder Novonor (formerly known as Odebrecht) have now confirmed a takeover offer from private equity investors Apollo and Abu Dhabi National Oil Company (ADNOC) for Novonor’s shares in the Brazilian petrochemicals and plastics producer.

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30.03.2023 • News

ADNOC Explores Ammonia Opportunities in Germany

Abu Dhabi National Oil Company (ADNOC) has signed a Memorandum of Understanding (MoU) with the government of the German state of North Rhine-Westphalia and site services provider Currenta to explore the creation of a low-carbon ammonia supply chain.

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06.03.2023 • News

ADNOC Raises $2.5 Billion in Gas IPO

Abu Dhabi National Oil Co (ADNOC) has netted $2.5 billion from the initial public offering of its subsidiary ADNOC Gas. The biggest-ever issue in Abu Dhabi, topping the $2 billion Borouge listing in mid-2022, was oversubscribed more than 50 times as investors placed offers worth $124 billion for a 5% stake in the United Arab Emirates-based firm.

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13.02.2023 • News

Masdar and Austria’s Verbund in Green Hydrogen Collaboration

Masdar, a clean energy company based in Abu Dhabi, and Austria’s leading energy utility Verbund have signed a Memorandum of Understanding (MoU) to develop pathways for producing and exporting green hydrogen to Central Europe, specifically Austria and southern Germany.

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23.01.2023 • News

Thyssenkrupp Uhde and ADNOC Sign Hydrogen Pact

German multinational engineering group Thyssenkrupp and Abu Dhabi National Oil Company (ADNOC) have signed a memorandum of understanding (MoU) to explore a long-term partnership to create new markets for hydrogen and promote global clean energy value chains.

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06.01.2023 • News

ADNOC to Take a 24.9% Stake in OMV

In a deal announced shortly before Christmas that only attracted significant attention in the new year, Abu Dhabi National Oil Company (ADNOC) said it is acquiring a 24.9% stake in Austrian energy group OMV from Mubadala, the sovereign wealth fund of the United Arab Emirates.

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27.05.2022 • News

BP Strengthens Partnerships with ADNOC, Masdar

Building on agreements signed last September, BP, Abu Dhabi National Oil Co (ADNOC) and Masdar have inked further agreements to progress their partnerships on blue and green hydrogen projects in both the UK and United Arab Emirates (UAE).

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23.05.2022 • News

Borouge Plans IPO of Minority Stake

Borouge, the Borealis/Abu Dhabi National Oil Co (ADNOC) joint venture, has announced plans to float a 10% stake in the company on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) will make 3 billion shares available, which could reportedly raise about $2 billion.

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18.05.2022 • News

Shaheen Joins Ta’ziz and Reliance Chlor-alkali Project

Shaheen Chem Holdings Investment, a privately owned company based in the United Arab Emirates (UAE), is joining the proposed Ta’ziz and Reliance Industries joint project that will produce chlor-alkali, EDC and PVC in Ruwais, Abu Dhabi.

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05.05.2022 • News

ADNOC Takes Over Mubadala Stake in Borealis

Abu Dhabi National Oil Co (ADNOC) is taking over Mubadala’s holding in Borealis for an undisclosed sum. Once the transaction, which is subject to the usual conditions and regulatory approvals, is finalized, Borealis will be owned 25% by ADNOC and 75% by Austrian oil, gas and petrochemicals group OMV.

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11.03.2022 • News

ADNOC and Proman Plan UAE’s First Methanol Plant

Abu Dhabi National Oil Company (ADNOC) and leading methanol producer Proman have signed an agreement to develop the United Arab Emirates’ (UAE) first world-scale methanol plant. The facility will be located at the Ta’ziz Industrial Chemicals Zone in Ruwais, Abu Dhabi, and capable of producing up to 1.8 million t/y.

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16.02.2022 • News

Borealis and ADNOC Said Hiring Banks for IPO

Plastics and fertilizer producer Borealis and Abu Dhabi National Oil Co (ADNOC), the United Arab Emirates’ largest oil company, are lining up banks to help arrange a potential listing of their plastics venture Borouge, the Bloomberg news agency has reported.

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18.11.2021 • News

ADNOC and Borealis Give Final Nod on Borouge 4

Abu Dhabi National Oil (ADNOC) and Borealis have signed the final investment agreement for their Borouge 4 complex at Ruwais, Abu Dhabi. The deal confirms their intent to spend $6.2 billion on the project, which will consist of a 1.5 million t/y ethane cracker, two PE plants producing 1.4 million t/y and a 100,000 t/y cross-linked PE plant.

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01.07.2021 • News

ADNOC and Reliance Partner on Ta’ziz Project

Abu Dhabi National Oil Company (ADNOC) and India’s Reliance Industries have entered into an agreement to build a world-scale chlor-alkali, ethylene dichloride (EDC) and PVC complex at the Ta’ziz industrial chemicals zone in Ruwais, Abu Dhabi.

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01.06.2021 • News

ADNOC Awards Ta’ziz Pre-FEED Work to Wood

Abu Dhabi National Oil Company (ADNOC) has awarded design contracts for initial pre-front-end engineering and design (pre-FEED) work for a world-scale blue ammonia plant and six other chemicals projects at the Ta’ziz complex to UK contractor Wood.

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15.03.2021 • News

Petronas Signs Abu Dhabi Collaborations

Malaysian state-owned oil and gas group Petronas has signed Memoranda of Understanding (MoU) with Abu Dhabi National Oil Company (ADNOC) and renewable energy company Masdar, both in the United Arab Emirates (UAE).

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02.02.2021 • News

ADNOC Boosts Downstream Investment Plans

Abu Dhabi National Oil Company (ADNOC) has merged its downstream unit with its trading arm, creating the Downstream Industry, Marketing & Trading Directorate. The company said the new unit will be a critical milestone toward its goal to responsibly deliver energy and energy products, particularly in its core Asian market, where it expects demand for refined and petrochemical products to grow over the next 10 years.

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03.12.2020 • News

ADNOC and Total Ink CO2/Carbon Capture Pact

Abu Dhabi National Oil Company (ADNOC) and French energy group Total have entered into a strategic framework agreement to explore joint research, development and deployment opportunities in reducing CO2 emissions and carbon capture, utilization and storage (CCUS).

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11.11.2020 • News

ADNOC and ADQ Plan Chemical Projects in Abu Dhabi

Ta’ziz, a joint venture between Abu Dhabi National Oil Company (ADNOC) and compatriot holding company ADQ, will invest more than $5 billion in seven chemical anchor projects and related infrastructure within the planned Ruwais Derivatives Park in Abu Dhabi.

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07.08.2020 • News

ADNOC and Wanhua Chemical in Shipping JV

Abu Dhabi National Oil Company (ADNOC)’s shipping and maritime logistics subsidiary ADNOC Logistics & Services (ADNOC L&S) has formed a joint venture with China’s Wanhua Chemical, regarded as the world’s leading producer of polyurethane starting material MDI.

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28.07.2020 • News

ADNOC to Create Chemicals Investment Platform

Abu Dhabi National Oil Company (ADNOC) has signed a joint venture agreement with diversified holding company ADQ to create a new chemicals investment platform for funding and developing industrial projects at the proposed Ruwais Derivatives Park.

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