April 1, 2026 14:30

As provided under the agreements, OMV and XRG (Adnoc) have established the new holding company Borouge Group International, which will operate under the Borouge International brand. The new entity becomes the world’s fourth-largest polyolefins producer, after Sinopec, CNPC and ExxonMobil, based on the combined production assets of Borealis, Borouge and Nova Chemicals.

The group is headquartered and tax resident in Vienna, Austria, with a regional headquarters in Abu Dhabi, United Arab Emirates. Once expansion projects are completed, the most significant of which is Borouge 4, the new entity will have global production capacity of 13.6 million tonnes/year.

Borouge International has been created through the combination of Borouge and Borealis, to be followed by the acquisition of Nova Chemicals. The new industrial group will be jointly controlled by OMV and XRG, each with a 50% stake.

The top management team includes Roger Kearns (pictured) as chief executive officer (CEO), Stefan Doboczky as chief commercial officer (CCO) and Hasan Karam (pictured ) as chief operating officer (COO). Daniel Turnheim, currently CFO of Borealis, will serve as interim CFO.

Full financial integration is expected to take about a year. In 2027, Borouge shares are expected to be converted into shares in Borouge Group International, alongside a capital increase. Until then, Borouge Group International AG will remain privately held, and Borouge shares will continue to be listed on the Abu Dhabi Securities Exchange (ADX).

In the meantime, Borouge International has unveiled its new brand identity, including its logo and tagline, “Essential materials, advancing the world”, underscoring the company’s ambition to accelerate the development of innovative solutions across end markets ranging from energy, mobility and AI infrastructure to sustainable packaging and healthcare.

“By combining Borouge and Borealis and acquiring NOVA Chemicals, we are creating a world-scale polyolefins leader with differentiated technology, a resilient business model and access to high-growth markets,” commented Sultan Al Jaber, Executive Chairman of XRG (pictured). “Borouge International is exceptionally positioned to meet growing global demand for advanced materials, while supporting industrial development, driving economic diversification, and reinforcing the UAE’s role as a trusted leader in the global energy and chemicals landscape.”

“The new polyolefins champion Borouge International will establish itself globally with innovative products, an advantaged feedstock position, proximity to customers and a robust capital structure,” added Alfred Stern, Chairman of the Executive Board and CEO of OMV. “The formation of Borouge International creates a new, world-class company headquartered in the heart of Europe, with production across three continents. It will be at the forefront of delivering renewable and circular economy solutions.”

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