UAE’s Adnoc Targets More Chemicals Growth After Mega OMV Deal
The $60 billion company formed by the merger of Adnoc and OMV AG’s chemical units is targeting a more than 50% boost in profits, and remains open for further deals or building new plants.
Adnoc, OMV Reach Deal to Form $60 Billion Petrochemical Giant
Abu Dhabi’s Adnoc and Austria’s OMV reached an agreement to combine their petrochemical businesses and subsequently acquire Canada’s Nova Chemicals to form a giant with a combined value of about $60 billion.
Adnoc, OMV to Combine Borouge, Borealis to Form Petrochemicals Giant
Adnoc and OMV will create Borouge Group International through an all-share combination of Borouge and Borealis, the companies said Tuesday. OMV will inject 1.6 billion euros ($1.68 billion) in cash into the business to put its shareholding on par with Adnoc, they said.
ADNOC and OMV to merge petrochemical firms to create $60 billion giant
By Gursimran Mehar, Yousef Saba, Federico Maccioni and Abinaya V (Reuters) -Abu Dhabi National Oil Company and Austria's OMV will merge their polyolefin businesses to create a chemicals powerhouse with a $60 billion enterprise value,
Adnoc and OMV announce deal to combine petrochemical assets
Adnoc and OMV said Borouge Group International, which they valued at $60bn plus, would be the fourth-largest polyolefins player. As the world’s appetite for gasoline and diesel begins to be eroded by the rise of electric vehicles,
Adnoc and OMV will create a $60 billion chemicals joint venture
Austria's OMV and Abu Dhabi's National Oil Company will create a $60 billion chemicals joint venture after two years of talks.
Abu Dhabi's Adnoc and OMV agree terms to create $60bn chemicals champion
Abu Dhabi’s state-owned energy company Adnoc has agreed terms of a binding agreement with Austria’s OMV to merge their polyolefins business and create a $60 billion global champion. Under the framework agreement,
Al-Monitor12h
UAE’s ADNOC, Austria’s OMV merge businesses to create $60B plastics firm
Following the acquisition, the new firm, called Borouge Group International (BGI), will be the world’s fourth-largest ...
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Right place, wrong time: Abu Dhabi’s first oil drilling misfire 75 years ago is now a gas bonanza
One of Abu Dhabi’s newest luxury resorts, The Anantara Santorini hotel, is just 45 minutes from the capital along the E11 ...
Abu Dhabi’s Adnoc Seeks $2.8 Billion in Gas Unit Stake Sale
Abu Dhabi’s state energy company is seeking to raise 10.4 billion dirhams ($2.84 billion) from a secondary offering in its ...
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What ADNOC and OMV’s Merger Means for the Energy Industry
ADNOC and OMV create a US$60bn polyolefins giant following a merger, reshaping petrochemicals amid the energy transition ...
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Abu Dhabi National Oil Co
February 27, 2025 ADNOC signs 15-year LNG supply deal with Japan's Osaka Gas Abu Dhabi National Oil Company said on Thursday it had signed a 15-year sales and purchase agreement to supply Japan's ...
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Abu Dhabi Department of Energy hosts Energy and Water Forum
Featuring 6 Specialized Workshops Attended by Representatives from Government and Private Sector Organizations ...
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Abu Dhabi's ADNOC to Boost Liquidity of Gas Business
ADNOC has launched a share offering of 4% of its ADNOC Gas business to boost liquidity and the free float of its gas unit.
Dubai eases on profit-taking, Abu Dhabi marginally down
Dubai index fell on Friday, as investors continued to encash on the profits gained in previous sessions, while Abu Dhabi ...
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Abu Dhabi state oil giant to offer 3.1bln shares of ADNOC Gas
Abu Dhabi state-backed oil giant ADNOC has announced its intent to offer approximately 3.1 billion shares of ADNOC Gas of ...
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ADNOC Signs 15-Year SPA with Osaka Gas for Ruwais LNG Project
Abu Dhabi National Oil Company (ADNOC) has signed a Sales and Purchase Agreement (SPA) with Osaka Gas, one of Japan’s largest ...