Browsing: Borouge Plc

ADNOC and OMV Aktiengesellschaft confirmed continued progress towards establishing Borouge Group International AG, highlighted by…

ADNOC recently advanced its chemicals growth strategy by agreeing to acquire a 35% stake in ExxonMobil’s planned low-carbon hydrogen and ammonia facility in Baytown, Texas, USA.

Borouge Plc, a leading petrochemicals company offering innovative polyolefins solutions, has announced plans to accelerate its growth in Asia through a strategic consortium. The consortium, which includes Borouge, ADNOC, and Borealis, has signed a Project Collaboration Agreement (PCA) with Wanhua Chemical and its subsidiary Wanrong New Materials (Fujian) in China.

Borouge Plc reports a Q3 net profit of $282M, marking a 22% increase from the previous quarter. Despite a challenging global environment and a tough polyolefins market, Borouge’s strong production performance, cost management, and revenue optimization through the Value Enhancement Programme ensured its resilience. Impressively, the Programme exceeded its 2023 target, delivering a $420 million positive impact in the first nine months of 2023.