Company Insights Borouge Petrochemicals Borouge News Markets Fees and procedures make UAE IPOs more complex UAE companies seeking to go public must undertake complex and often costly procedures to complete an initial public offering, although fees remain reasonable by international standards because of competition among advisers, according to experts. This decade, Abu Dhabi and Dubai have part-privatised many government-owned companies, sparking an IPO flurry that runs counter to slowdowns in […] June 26, 2024 Industry Adnoc makes final bid for German chemicals maker German chemical company Covestro AG has confirmed that it has started “concrete negotiations” over a $12.5 billion offer from Abu Dhabi National Oil Company (Adnoc). Covestro said in a statement that Adnoc had offered €62 ($67) a share as a starting point for the negotiations, which are subject to the completion of due diligence. In […] June 25, 2024 Industry Borouge profit rises to $273m despite revenue fall Petrochemicals major Borouge said its net profit for the first quarter of 2024 rose 37 percent to $273 million amid stronger price premium on high-value products. The Abu Dhabi-listed company said revenue fell 6 percent year on year to $1.3 billion on planned feedstock-related operational maintenance. Average sales prices increased quarter on quarter by 4 […] April 30, 2024 Video length: 03:31 VIDEO Industry Borouge to treble production despite lacklustre demand The UAE petrochemicals company Borouge is to treble annual production capacity at its $6 billion polyolefin complex, despite forecasts of an oversupply in the sector. Once completed next year, Borouge 4 will be the world’s largest single-site producer of polyolefins, plastics mainly obtained from oil and natural gas. Borouge’s CEO, Hazeem Al Suwaidi, told AGBI […] March 25, 2024 Opinion Finance Grey list removal is milestone for investor confidence Coming off the FATF list is testament to UAE's willingness to improve overall governance March 1, 2024 Energy Adnoc buys 25% of Austrian chemical group OMV Abu Dhabi state oil company Adnoc has formally closed the acquisition of a 25 percent stake in Austrian energy and chemicals group OMV. The energy giant bought the stake from UAE sovereign wealth fund Mubadala Investment Company. Financial details were not disclosed. Österreichische Beteiligungs AG, an Austrian independent holding company, holds 31 percent in OMV, […] March 1, 2024 Oil & Gas Adnoc faces hurdles in completing ambitious European deals Abu Dhabi state oil company Adnoc is facing challenges to a duo of major European deals it is trying to get over the finish line, according to media reports. Talks with Austrian energy group OMV have been put on hold to allow parties to navigate a series of disagreements, the Financial Times reported on Friday. […] February 23, 2024 Opinion Oil & Gas Adnoc’s acquisition strategy could lead to something major Abu Dhabi's oil giant is keeping watch as European supermajors shed assets February 19, 2024 Industry Borouge’s 2023 profit falls 29% on produce price drop Abu Dhabi-listed petrochemicals major Borouge said net profit fell 29 percent to $1 billion in 2023 from $1.41 billion in 2022. The slide in profit was attributed to a 16 percent decline in average selling prices as global polyolefins demand reduced from peak levels in 2022. This was partially offset by a one percent increase […] February 1, 2024 Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024 Posts navigation Previous 1 2 3 4 … 6 Next
Markets Fees and procedures make UAE IPOs more complex UAE companies seeking to go public must undertake complex and often costly procedures to complete an initial public offering, although fees remain reasonable by international standards because of competition among advisers, according to experts. This decade, Abu Dhabi and Dubai have part-privatised many government-owned companies, sparking an IPO flurry that runs counter to slowdowns in […] June 26, 2024
Industry Adnoc makes final bid for German chemicals maker German chemical company Covestro AG has confirmed that it has started “concrete negotiations” over a $12.5 billion offer from Abu Dhabi National Oil Company (Adnoc). Covestro said in a statement that Adnoc had offered €62 ($67) a share as a starting point for the negotiations, which are subject to the completion of due diligence. In […] June 25, 2024
Industry Borouge profit rises to $273m despite revenue fall Petrochemicals major Borouge said its net profit for the first quarter of 2024 rose 37 percent to $273 million amid stronger price premium on high-value products. The Abu Dhabi-listed company said revenue fell 6 percent year on year to $1.3 billion on planned feedstock-related operational maintenance. Average sales prices increased quarter on quarter by 4 […] April 30, 2024
Video length: 03:31 VIDEO Industry Borouge to treble production despite lacklustre demand The UAE petrochemicals company Borouge is to treble annual production capacity at its $6 billion polyolefin complex, despite forecasts of an oversupply in the sector. Once completed next year, Borouge 4 will be the world’s largest single-site producer of polyolefins, plastics mainly obtained from oil and natural gas. Borouge’s CEO, Hazeem Al Suwaidi, told AGBI […] March 25, 2024
Opinion Finance Grey list removal is milestone for investor confidence Coming off the FATF list is testament to UAE's willingness to improve overall governance March 1, 2024
Energy Adnoc buys 25% of Austrian chemical group OMV Abu Dhabi state oil company Adnoc has formally closed the acquisition of a 25 percent stake in Austrian energy and chemicals group OMV. The energy giant bought the stake from UAE sovereign wealth fund Mubadala Investment Company. Financial details were not disclosed. Österreichische Beteiligungs AG, an Austrian independent holding company, holds 31 percent in OMV, […] March 1, 2024
Oil & Gas Adnoc faces hurdles in completing ambitious European deals Abu Dhabi state oil company Adnoc is facing challenges to a duo of major European deals it is trying to get over the finish line, according to media reports. Talks with Austrian energy group OMV have been put on hold to allow parties to navigate a series of disagreements, the Financial Times reported on Friday. […] February 23, 2024
Opinion Oil & Gas Adnoc’s acquisition strategy could lead to something major Abu Dhabi's oil giant is keeping watch as European supermajors shed assets February 19, 2024
Industry Borouge’s 2023 profit falls 29% on produce price drop Abu Dhabi-listed petrochemicals major Borouge said net profit fell 29 percent to $1 billion in 2023 from $1.41 billion in 2022. The slide in profit was attributed to a 16 percent decline in average selling prices as global polyolefins demand reduced from peak levels in 2022. This was partially offset by a one percent increase […] February 1, 2024
Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024
