Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

Borealis last week issued a force majeure declaration for its Stenungsund steam cracker in Sweden. A spokesperson from the company said that on 8th of April the company declared force majeure for its cracker operations in Stenungsund due to a “technical incident”. The cracker in Stenungsund can produce 625,000 metric tons of ethylene per annum. … Read more Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

OMV in Talks with Mubadala over Borealis Stake

Austria’s OMV is in talks with Abu Dhabi’s Mubadala Investment Company to acquire a controlling stake worth $4.68 billion in Borealis. The deal— which would increase OMV’s current shareholding in Borealis from 36% to 75%— is said to be potentially record-breaking and would shift OMV’s focus to petrochemicals. “The potential transaction would expand the value … Read more OMV in Talks with Mubadala over Borealis Stake

Borealis Reports Increase in Profit for Q4 2019

Borealis announces a net profit of EUR 138 million ($151.8 million) for the fourth quarter of 2019, compared to EUR 94 million ($103.4 million) in the same quarter of 2018. While the 2018 result was impacted by a one-off impairment charge of EUR 92 million ($101.2 million), the result in the fourth quarter of 2019 … Read more Borealis Reports Increase in Profit for Q4 2019

Borealis AG to Acquire NOVA Chemicals Share in Novealis Joint Venture

Borealis AG and NOVA Chemicals Corporation announced last Thursday that they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC. Formed in 2018, Novealis is the joint venture between affiliates of Borealis and NOVA Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total … Read more Borealis AG to Acquire NOVA Chemicals Share in Novealis Joint Venture

BASF, Adani, Borealis, ADNOC Sign MoU to Study Joint Development of $4-bn Petrochemical Complex

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 BASF, Adani, Borealis, ADNOC Sign MoU to Study Joint Development of $4-bn Petrochemical Complex

Borealis Inaugurates Polypropylene (PP) Compounding Plant in US

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced the start of its new polypropylene (PP) compounding plant in Taylorsville, US. The 50,000 sq. ft. facility, with rail siding in place, adds an initial 30,000 MT of capacity to strengthen Borealis’ and Borouge’s global supply capability for … Read more Borealis Inaugurates Polypropylene (PP) Compounding Plant in US

Borealis and ADNOC Sign MOUs to develop Polyolefin Industry

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers and the Abu Dhabi National Oil Company (ADNOC) signed a Memorandum of Understanding (MoU) agreement to explore potential growth opportunities within the polyolefin industry in key geographical markets that both parties view as key demand centers in the future. … Read more Borealis and ADNOC Sign MOUs to develop Polyolefin Industry