Our Structure and Ownership

Borealis is owned by the International Petroleum Investment Company of Abu Dhabi (64%) and by OMV Aktiengesellschaft, the leading energy group along the European growth belt (36%).  


Khadem Al Qubaisi, IPIC, Chairman of Borealis AG. Dr. Gerhard Roiss, OMV, Vice Chairman.

Company Backgrounders

The International Petroleum Investment Company (IPIC) 

IPIC is fully owned by the Government of the Emirate of Abu Dhabi, and responsible for investments in refining and marketing, petrochemicals and other hydrocarbons-related sectors, outside the Emirates.

The organisation is supervised by an independent Board of Directors headed by H. H. Sheikh Mansour Bin Zayed Al Nahyan, Minister of Presidential Affairs, Government of United Arab Emirates and member of the Supreme Petroleum Council of Abu Dhabi.

IPIC is an internationally active, strategic investment company committed to operating on commercial principles and maximising its long run shareholder value. Its current portfolio includes a 19.6% stake in OMV Aktiengesellschaft.

OMV Aktiengesellschaft

OMV, headquartered in Vienna, is one of Austria’s largest listed industrial companies. The company was founded in 1956 and is active in 17 countries in the Exploration and Production business segment. With 34.676 employees, OMV is committed to acting as a reliable partner for both its customers, who benefit from high supply security, and the country’s research and business activities.

With Group sales of EUR 17,92 billion in 2009, OMV is one of the largest listed industrial companies in Austria.

As the leading energy group in the European growth belt, OMV runs a network
of over 2,696 filling stations and operates five refineries. As international integrated energy group OMV is active in the following core businesses areas: Refining and Marketing including Petrochemicals (R&M) Exploration and Production (E&P) as well as Gas and Power (G&P).

OMV holds stakes in integrated chemical and petrochemical plants: 

• 36% of Borealis AG,
• 51% of Petrom SA,
• 50% of EconGas GmbH,
• 45% of BAYERNOIL Raffinerie GmbH 
• 41.58% of Petrol Ofisi,
• 20.2% of the Hungarian company MOL.

With the acquisition of a stake in Petrol Ofisi, Turkey’s leading company in the filling station and commercial business sectors with the only area covering filling station network (roughly 3,200 stations) of the country, OMV has entered the Turkish growth market, which marks an important milestone for the company’s expansion strategy. OMV operates a refinery in Schwechat (Austria) and one in Burghausen (South Germany), with both refineries also producing basic
petrochemicals. Along with the refineries Petrobrazi and Arpechim (Romania) and its 45% stake in Raffinerieverbund Bayernoil (South Germany) OMV has a total annual capacity of 26 million tons.

Joint Ventures

Through Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world's major oil companies, the company's footprint reaches out to the Middle East, Asia Pacific, the Indian sub-continent and Africa. Established in 1998, Borouge employs approximately 1,400 people, has customers in more than 50 countries and its headquarters are in Abu Dhabi in the UAE and Singapore.

Production joint ventures

• Zwijndrecht, Belgium - Speciality Polymers Antwerp is a 50/50 joint venture with DuPont. The company manufactures polyethylene at a 125,000 t/y high pressure polyethylene plant.
• Itatiba and Triunfo, Brazil - Borealis Brasil S.A. is a joint venture of Borealis (80%) and the Brazilian company Braskem (20%). The joint venture, formed in 1999, has taken over OPP’s compounding business and assets in Brazil, and serves customers in the automotive and home appliances industries in South America.
• Ruwais, United Arab Emirates - Borouge 1 has been constructed in 2001 in Ruwais. The site consists of an ethane-based cracker with an annual ethylene capacity of 600,000 t/y and two PE lines with a combined annual capacity of 580,000 t/y, which utilise Borealis' Borstar PE technology. Construction of Borouge 2 continued to progress as planned for start-up in 2010. The output of this new facility will triple the annual polyolefin capacity at the complex to 2 million tonnes. A feasibility study was completed to assess a further expansion of Borouge’s polyolefin operations and decided to enter the front-end engineering and design phase. The Borouge 3 project includes the construction of an ethane cracker, second generation Borstar® polypropylene (PP) and polyethylene (PE) units, a LDPE unit and Butene unit, as well as related off-site utilities and marine facilities.