Volume 121, Issue 7d

July 31, 2023 | ADNOC and OMV Group have entered formal negotiations to potentially form a new jointly owned petrochemicals company via the proposed merger of the operators’ existing individual interests in their Borealis AG and Borouge PLC ventures. OMV holds a 75% majority interest in Borealis, with ADNOC holding the remaining 25% stake. Borouge is owned by ADNOC (54%) and OMV (36%). Photo from Borouge PLC.