Saturday 15 Feb 2025 Abu Dhabi UAE
Prayer Timing
Today's Edition
Today's Edition
Business

ADNOC updates on potential polyolefin opportunities

ADNOC achieves industry-leading carbon intensity at Shah oil field enabled by AI
1 Feb 2025 14:02

ABU DHABI (WAM)

Abu Dhabi National Oil Company (ADNOC) P.J.S.C. (“ADNOC”) has confirmed that negotiations with OMV AG (“OMV”) about the potential creation of a new global polyolefins group, through the proposed combination of their existing shareholdings in Borouge plc (“Borouge”) and Borealis AG (“Borealis”) are ongoing in a constructive and positive manner, while contemplating the acquisition of Nova Chemicals Corporation (“Nova”) from Mubadala Investment Company (“Mubadala”) and contribution to the combined entity.

The transactions are subject to respective agreements, regulatory approvals and customary conditions.

ADNOC will update the market as and when appropriate.

Copyrights reserved to Aletihad News Center © 2025