Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
ADNOC Gas and Borouge, both listed on the Abu Dhabi Securities Exchange (ADX), said they remain confident of navigating the present situation following recent incidents at their facilities, underpinned by strong balance sheets, operational flexibility and financial resilience.
In an ADX disclosure on Monday, ADNOC Gas said: “We remain committed to delivering shareholder value. Our balance-sheet strength and capital discipline support the resilience of the company.”
Confirming that an incident at its Habshan complex on April 3 caused damage to certain facilities, ADNOC Gas said: “The affected area was isolated, and a comprehensive assessment of the damage to the Habshan train is ongoing.”
The company said there was no impact on customer supply, adding that domestic demand is being met through its other facilities. It also said it is actively collaborating with international customers and partners where needed.
ADNOC Gas said the incident occurred due to falling debris following the successful interception by air defence systems in the Habshan area.
The company confirmed one death and four injuries.
“Tragically, one contractor, an Egyptian national, lost his life during the evacuation from the site. Four other contractors sustained minor injuries in the same accident and have been released from hospital,” it added.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “We are profoundly saddened by the loss of life and extend our deepest condolences to the family and loved ones of the deceased. Our thoughts are also with the injured colleagues, and we wish them a full and speedy recovery. The safety, security, and wellbeing of our people remains our highest priority.”
In a separate disclosure, Borouge said it retains significant financial resilience to navigate short-term operational disruption, supported by strong cash generation and significant available liquidity.
Borouge also highlighted that it achieved high utilisation rates in the first quarter of 2026 and was able to sell a significant proportion of its production during March via alternative routes, with additional inventories placed in storage ahead of shipment.
It added that a global shortage of polyolefins drove a strong recovery in prices in March, which has continued into April.
The company confirmed that an incident occurred at its production facilities in the Ruwais Industrial Area on April 5, where falling debris following a successful interception by air defence systems caused damage to assets. It said there were no injuries and that resulting fires were brought under control.
Production activity in the affected areas has been suspended while damage assessment and repair works are being carried out.
Both companies said their assessments are based on currently available information and remain subject to revision as circumstances evolve.
