Company Insights Borouge Petrochemicals Borouge News Markets Abu Dhabi IPO Fund plans up to four listings by 2024-end Abu Dhabi can expect up to four further listings of private companies by the end of 2024, according to Bassel Khawaja, advisory head of the Abu Dhabi IPO Fund. Speaking on the sidelines of Abu Dhabi Finance Week (ADFW), Khawaja told AGBI the fund is currently assisting three unnamed companies with their IPO readiness. He […] November 29, 2023 Energy Adnoc considers buying German oil and gas producer State-owned Abu Dhabi National Oil Company (Adnoc) is exploring a potential acquisition of Wintershall Dea, the European energy business backed by BASF SE. The possible deal could value Wintershall Dea, a German gas and oil producer, at more than €10 billion ($11 billion), the news agency reported, citing informed sources. UK-listed Harbour Energy Plc is […] November 24, 2023 Energy Borouge quarterly profit falls 9% on lower sales prices Net profit at the Abu Dhabi petrochemicals firm Borouge for the third quarter 2023 fell 9 percent year-on-year to $282 million (AED1.04 billion) on a 15 percent drop in average selling prices. However, the company’s profits rose 22 percent quarter on quarter, driven by robust production performance and cost management. Third-quarter revenue fell 11 percent year on […] October 30, 2023 Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023 Manufacturing Borouge profit down 50% as merger talks continue Petrochemicals company Borouge saw its net profit slide 53 percent year on year to $231 million in the second quarter, attributed to a decline in average sales prices for its products. The business said in a filing to Abu Dhabi Securities Exchange, where its shares are traded, that total revenues fell by 25 percent to […] July 28, 2023 Banking & Finance Adnoc raises bid for Covestro to $12.4bn Abu Dhabi National Oil Company (Adnoc) has increased its takeover bid for German chemical producer Covestro AG to €11 billion ($12.4 billion), Bloomberg reported, citing informed sources. The Abu Dhabi energy firm’s latest proposal values Covestro at €57 per share, up from its first informal bid of €55 apiece. Reuters last month reported that the […] July 19, 2023 Manufacturing Adnoc confirms talks on potential chemicals giant State-owned Abu Dhabi National Oil Company (Adnoc) has confirmed formal negotiations with Austria’s OMV AG (OMV) on the potential creation of a new combined petrochemicals holding entity. The new entity will be created through the proposed merger of the two companies’ existing shareholdings in Borouge plc and Borealis AG. Borouge is listed on the Abu […] July 16, 2023 Oil & Gas Adnoc and OMV in talks to create $30bn chemicals giant State-owned Abu Dhabi National Oil Company (Adnoc) and Austria’s OMV AG are in discussion over the possible merger of chemical companies Borouge and Borealis AG to create a chemicals and plastics giant worth more than $30 billion. Vienna-based Borealis is 75 percent owned by OMV, while Adnoc holds the remaining stake. Abu Dhabi-listed Borouge is […] July 5, 2023 Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Posts navigation Previous 1 … 3 4 5 6 Next
Markets Abu Dhabi IPO Fund plans up to four listings by 2024-end Abu Dhabi can expect up to four further listings of private companies by the end of 2024, according to Bassel Khawaja, advisory head of the Abu Dhabi IPO Fund. Speaking on the sidelines of Abu Dhabi Finance Week (ADFW), Khawaja told AGBI the fund is currently assisting three unnamed companies with their IPO readiness. He […] November 29, 2023
Energy Adnoc considers buying German oil and gas producer State-owned Abu Dhabi National Oil Company (Adnoc) is exploring a potential acquisition of Wintershall Dea, the European energy business backed by BASF SE. The possible deal could value Wintershall Dea, a German gas and oil producer, at more than €10 billion ($11 billion), the news agency reported, citing informed sources. UK-listed Harbour Energy Plc is […] November 24, 2023
Energy Borouge quarterly profit falls 9% on lower sales prices Net profit at the Abu Dhabi petrochemicals firm Borouge for the third quarter 2023 fell 9 percent year-on-year to $282 million (AED1.04 billion) on a 15 percent drop in average selling prices. However, the company’s profits rose 22 percent quarter on quarter, driven by robust production performance and cost management. Third-quarter revenue fell 11 percent year on […] October 30, 2023
Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023
Manufacturing Borouge profit down 50% as merger talks continue Petrochemicals company Borouge saw its net profit slide 53 percent year on year to $231 million in the second quarter, attributed to a decline in average sales prices for its products. The business said in a filing to Abu Dhabi Securities Exchange, where its shares are traded, that total revenues fell by 25 percent to […] July 28, 2023
Banking & Finance Adnoc raises bid for Covestro to $12.4bn Abu Dhabi National Oil Company (Adnoc) has increased its takeover bid for German chemical producer Covestro AG to €11 billion ($12.4 billion), Bloomberg reported, citing informed sources. The Abu Dhabi energy firm’s latest proposal values Covestro at €57 per share, up from its first informal bid of €55 apiece. Reuters last month reported that the […] July 19, 2023
Manufacturing Adnoc confirms talks on potential chemicals giant State-owned Abu Dhabi National Oil Company (Adnoc) has confirmed formal negotiations with Austria’s OMV AG (OMV) on the potential creation of a new combined petrochemicals holding entity. The new entity will be created through the proposed merger of the two companies’ existing shareholdings in Borouge plc and Borealis AG. Borouge is listed on the Abu […] July 16, 2023
Oil & Gas Adnoc and OMV in talks to create $30bn chemicals giant State-owned Abu Dhabi National Oil Company (Adnoc) and Austria’s OMV AG are in discussion over the possible merger of chemical companies Borouge and Borealis AG to create a chemicals and plastics giant worth more than $30 billion. Vienna-based Borealis is 75 percent owned by OMV, while Adnoc holds the remaining stake. Abu Dhabi-listed Borouge is […] July 5, 2023
Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
