Covestro said in June it was stepping up talks with ADNOC after the UAE’s national energy company made an improved takeover bid
The profitability was attributed to sustained price premia for polyethene and polypropylene, which remained at $198 and $138 per tonne, respectively
SABIC’s fall in net profit is attributed to lower revenues, lower results and losses from discontinued operations
The company said it intends to nominate two representatives to the OMV supervisory board
SABIC has attributed the fall in revenue to a downturn in the global petrochemical market which continues to witness weak demand
The interim dividend will be paid to shareholders who have purchased Borouge shares as of September 7
The awarding of the contracts marks the start of construction work on the petrochemical facility
UAE-based Ducab and Union Pipes Industry will use Borouge solutions to produce power cables and pressure pipes for Borouge 4 infrastructure
The company’s revenue for the three months ending September 30, grew 8 percent year-on-year to equal $1.67bn
Borouge reported that the adjusted EBITDA increased 1.7 per cent to $1,512m, whilst net income increased 2.5 per cent to $853m
Upon completion, the new project will add an additional 1.4 million tonnes of polyethylene
The investment in Borealis expands ADNOC’s international footprint in the fast-growing chemicals and petrochemical sector in Europe and the Americas
The specialised bulk storage terminal will have a total capacity of around 40,000 cubic metres
Profit rose mainly due to the reversal of SAR690m of impairments associated with Clariant AG