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.
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 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-Monitor5h
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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Borouge updates investors on proposed creation of $60bln global petrochemical champion
Borouge will update the market today on the announcements by Abu Dhabi National Oil Company (ADNOC) and OMV ...
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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 ...
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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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 ...