Abu Dhabi National Oil Company P.J.S.C. (ADNOC) and OCI Global, announced that they have entered into a sale and purchase agreement for the acquisition by ADNOC of OCI’s entire majority shareholding in Fertiglobe plc. Fertiglobe is listed on the Abu Dhabi Securities Exchange and is the world’s largest seaborne exporter of urea and ammonia … Read more
Abu Dhabi National Oil Company (ADNOC) is reportedly contemplating the acquisition of European energy firm Wintershall Dea, signaling a strategic move to bolster its international presence, as reported by Bloomberg, citing informed sources. Wintershall Dea, valued at potentially over €10 billion ($11 billion), has garnered interest from various entities, including UK-listed Harbour Energy. German chemical … Read more
In response to the expressed interest from the Abu Dhabi National Oil Company (Adnoc), the Board of Management at Covestro AG has taken a significant step by initiating open-ended discussions with Adnoc. The outcome of these discussions, including the form and potential conditions of any agreement, remains uncertain and contingent upon the course of the … Read more
Abu Dhabi National Oil Company (ADNOC) has officially announced its commencement of formal negotiations with OMV AG to explore the possibility of creating a new combined petrochemicals holding entity. The proposed merger aims to integrate their respective existing shareholdings in Borouge plc and Borealis AG. Currently, Borouge is listed on the Abu Dhabi Securities Exchange … Read more
Abu Dhabi National Oil Co. (ADNOC) has reportedly made a significant offer exceeding €10 billion ($10.9 billion) to acquire Covestro AG, a leading chemicals giant. The news of the potential takeover caused Covestro’s stock to surge, with shares jumping by double digits. ADNOC, traditionally an oil and gas producer, aims to diversify its portfolio and … Read more
Braskem, the Brazilian petrochemical company, has received a joint non-binding offer from Apollo Global Management and Abu Dhabi National Oil Company (ADNOC). However, the terms of the offer have divided opinion in the market, with creditor banks not unanimous on the figures, and doubts remain as to whether Petrobras will agree to sell its stake … Read more
ADNOC announced that it will explore opportunities to support the climate-neutral transformation of industry through the creation of a low-carbon ammonia value chain with state government and industry representatives in Germany’s North Rhine-Westphalia. The announcement was made following the signing of a memorandum of understanding (MoU) between the Government of North Rhine-Westphalia, ADNOC and Currenta … Read more
BP has collaborated with Abu Dhabi National Oil Company (ADNOC) and Masdar of Abu Dhabi for its planned hydrogen projects in Teesside, UK. The collaboration builds on strategic framework agreements signed by the companies in September last year. ADNOC will make its first investment in the UK to acquire a 25% stake in the design … Read more
Borouge, a joint-venture between The Abu Dhabi National Oil Company (ADNOC) and Borealis Group AG (Vienna, Austria), has announced the successful start-up of its new fifth polypropylene unit (PP5) in Ruwais. The new unit will contribute to boosting the UAE’s production of polypropylene to meet the growing global demand for manufactured products in the recyclable … Read more
Abu Dhabi National Oil (ADNOC) and Borealis have signed the final investment agreement for their Borouge 4 complex at Ruwais, Abu Dhabi. The deal confirms their intent to spend $6.2 billion on the project, which will consist of a 1.5 million t/y ethane cracker, two PE plants producing 1.4 million t/y and a 100,000 t/y … Read more
Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new worldscale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. The agreement capitalizes on growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and … Read more
Abu Dhabi National Oil Company and industrial holding company ADQ are looking to collaborate on $5 billion worth of projects in the Ruwais Derivatives Park. The two companies signed a deal to form the JV in July to invest in chemical projects, with ADNOC holding a 60% equity stake and ADQ having the remaining 40%. … Read more
BASF said on Thursday that its plans to build a petrochemicals complex in India worth up to $4 billion with partners had been put on hold due to the economic uncertainty caused by the pandemic. As part of four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (ADNOC), Adani … Read more
Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) are still committed to investing in the planned $44 billion west coast refinery-cum-petrochemical project, the Chairman of India’s Indian Oil Corp (IOC) said on Thursday. Saudi Aramco’s talks to buy a 20% stake in Reliance Industries Ltd’s oil-to-chemical business for $15 billion, coupled with a crash … Read more
The Abu Dhabi National Oil Company (ADNOC) signed a framework agreement with Reliance Industries to explore development of an Ethylene Dichloride facility in Ruwais. The agreement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOC’s Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director. Under the terms of the agreement, ADNOC and RIL … Read more
The cost of oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at … Read more
ADNOC (Abu Dhabi National Oil Co.) said Tuesday it signed an agreement with China’s Rongsheng Petrochemicals Co. to explore local and international opportunities which will support the delivery of its 2030 smart growth strategy. Both companies will look into opportunities for ADNOC’s sale of refined products to Rongsheng, downstream investments in both China and the … Read more
Abu Dhabi National Oil Company (ADNOC), Adani Group, BASF SE and Borealis AG have signed a Memorandum of Understanding (MoU) to engage in a joint feasibility study to further evaluate a collaboration for the establishment of a chemical complex in Mundra, Gujarat, India. This is the next step of BASF’s and Adani’s investment plans as … Read more
India has increased the cost estimate of the planned refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, as reported by Business Today. The 1.2 million bpd coastal refinery in the western state … Read more
Eni and ADNOC, said they closed their strategic partnership, announced in January, through which Eni acquired a 20 percent equity interest in ADNOC refining. The partners – which include Austria’s OMV – also set up a new trading joint venture. ADNOC Refining refines in excess of 922,000 barrels per day of crude at its Ruwais … Read more