Dr. Sultan Al Jaber Strengthens Strategic Energy Partnership With OMV During Austria Visit

Dr. Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology and ADNOC's Managing Director and Group CEO, recently visited OMV's headquarters in Vienna, Austria. This visit aimed to strengthen the strategic partnership between the two companies. The collaboration follows a significant agreement in March 2025 between ADNOC and OMV to merge Borouge and Borealis, forming Borouge Group International.

The creation of Borouge Group International is a key step in ADNOC’s strategy to become a leading global chemicals player. This new entity will enhance Borouge's market presence, especially in Europe and North America. It also underscores ADNOC’s dedication to sustainability and innovation. The partnership with OMV is expected to benefit both firms and contribute positively to the energy sectors in the UAE and Austria.

During his visit, Dr. Al Jaber met with Dr. Alfred Stern, CEO of OMV, who showed him around OMV’s advanced facilities. They discussed how innovation and technology are being used to drive value and sustainability at OMV. Dr. Al Jaber stated, "Our longstanding partnership with OMV continues to create new growth opportunities as we advance the formation of Borouge Group International."

The establishment of Borouge Group International is anticipated to unlock substantial value for shareholders by realising operational synergies, improving market access globally, accelerating new innovations, and sharing advanced technologies. The company aims for an EBITDA exceeding $7 billion annually through economic cycles.

Borouge plans to increase its dividend starting in 2025 to at least 16.2 fils per share, reflecting confidence in its growth prospects. This represents a 6.3% yield at current share prices on the Abu Dhabi Securities Exchange (ADX), one of the highest yields available there.

Dr. Alfred Stern remarked on the strong momentum behind their 25-year strategic alliance with ADNOC: "Today’s engagement with Dr. Sultan Al Jaber reflects the strong momentum behind our 25-year strategic partnership." He highlighted that forming Borouge Group International marks a significant achievement in transforming OMV into an integrated sustainable chemicals company.

Borouge's Growth Trajectory

Dr. Al Jaber praised Borouge’s impressive performance, noting its growth and resilience within the petrochemical industry. The company has expanded production capacity significantly while diversifying its portfolio to meet rising global demand for essential chemicals.

Borouge's achievements are particularly notable in regions like the Middle East and Asia, showcasing its operational strength and strategic foresight. The company's dividend policy will be based on a 90% payout ratio with potential increases depending on free cash flow generation.

This initiative aligns with ADNOC’s international growth mandate by expanding its global petrochemicals business through strategic partnerships like that with OMV.

With inputs from WAM