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ADNOC Update on Potential Polyolefin Opportunities

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Abu Dhabi, UAE – February 1, 2025: Abu Dhabi National Oil Company (ADNOC) P.J.S.C. (“ADNOC”) confirms 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.

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Release Details

February 01, 2025
Abu Dhabi

Media Inquiries:

For media inquiries, please contact: media@adnoc.ae