UAE's ADNOC confirms negotiations with Austria's OMV for new polyolefins JV
ReutersFeb 1, 2025 8:04 AM
Feb 1 (Reuters) - Abu Dhabi National Oil Company (ADNOC) confirmed on Saturday negotiations with Austria's OMV OMVV.VI to set up a new global polyolefins group.
It said in a statement negotiations to merge their Borouge and Borealis companies were going in a "constructive and positive manner".
The proposed merger would create a global polyolefin group, which would combine Canada's Nova Chemicals, Borealis and Borouge.
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