Borouge

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.

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.

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.

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.

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.

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.

Tecnimont Wins EPC Contracts Worth $3.5 Billion from Borouge

Italian contractor Tecnimont has signed three contracts with Borouge for engineering, procurement construction (EPC) services on the polyolefins expansion in Ruwais, Abu Dhabi. The value of the turnkey contracts, which Tecnimont said were awarded on the basis of a competitive bidding process, totals about $3.5 billion.

Axens Wins Borouge 4 Contract

WorleyParsons Wins Borouge Contract

Tecnimont Wins Borouge 4 FEED Contract

Expansion Plan for Borouge Sealed

Neste Jacobs Selected as FEED Contractor on Borouge Project

Surge in Q2 Profit for Borealis

Borealis Extends CEO Garrett’s Contract Until 2019

Borealis Records Improved Net Profit in Q1 2014

Borealis Announces a Q1 Net Profit of €61 Million

Borealis Continues to Deliver Strong Results in 2012

Borealis Delivers Solid Profits in a Difficult Market Environment

Borealis Q1 Profit Down

Saudi Arabia: Rise of a Global Chemical Hub

Agility Opens Borouge Logistics Hub in Shanghai

UAE's Borouge Awards EPC Contracts Worth $2.6 Billion