Our Structure and Ownership
A solid footprint in the petrochemicals industry
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%).
H.E. Khadem Al Qubaisi, Managing Director of the International Petroleum Investment Company (IPIC) and Chairman of the Board of Aabar Investments, Chairman of the Borealis Supervisory Board.
David C. Davies, OMV Deputy Chairman of the Executive Board, Responsible for Finance, Vice Chairman of the Borealis Supervisory Board.
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.
With Group sales of EUR 34.05 bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.13 bn boe as of year-end 2011 and a production of around 288,000 boe/d in 2011. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of the end of 2011 approximately 4,550 filling stations in 13 countries including Turkey. In Gas and Power, OMV sold approximately 24 bcm of gas in 2011. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 101 bcm in 2011. With a trading volume of around 40 bcm in 2011, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
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 1,700 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 joint venture of Borealis (33%) and DuPont (67%). 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. The construction of the major expansion project Borouge 2 was completed in mid 2010. All of the units of Borouge 2 are fully operational. The output of this new facility has tripled the annual polyolefin capacity at the complex to 2 million tonnes. 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. The Borouge 3 plant expansion will be completed at the end of 2013 with an additional capacity of 2.5 million tonnes per year (t/y) being fully operational in mid 2014.