OMV, the Austria-based international energy, fuels & feedstock and chemicals & materials company, owns 75% of Borealis, while the remaining 25% is owned by Abu Dhabi National Oil Company, or ADNOC, based in the United Arab Emirates (UAE). Services and products are supplied to customers around the globe through Borealis and two important joint ventures: Borouge (with ADNOC, headquartered in the UAE); and Baystar™ (with Total, based in the United States).
At OMV, we are re-inventing essentials for sustainable living. OMV is transitioning to become a leading sustainable fuels, chemicals and materials company with a focus on circular economy solutions, while operating today across three integrated business segments of Energy, Fuels & Feedstock, and Chemicals & Materials. By gradually switching over to low-carbon businesses, OMV is striving to achieve net zero by latest 2050. The company achieved revenues of EUR 62 billion in 2022 and has a diverse and talented workforce of around 22,300 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.
Bayport Polymers LLC (Baystar™) is a joint venture 50% owned by Total Petrochemicals & Refining USA, Inc. (TPRI) and 50% owned by Borealis through Novealis Holdings LLC. Baystar combines Total’s expertise in operating major industrial platforms with the Borealis proprietary Borstar® technology to deliver a broad range of products to help meet the growing global demand for plastic products.
The joint venture includes an ethane-based steam cracker with a capacity of one million tons per year – a project initially developed by Total and currently under construction in Port Arthur, Texas.
The joint venture will also include a new 625,000 metric ton-per-year Borstar® polyethylene unit in Pasadena, Texas.
Baystar is currently building a one million metric ton per year steam cracker in Port Arthur, Texas, USA. This undertaking will add more than one million metric tons of annual polyolefins production capacity and, most crucially, enable Borealis to supply locally manufactured Borstar products to its North American customers for the first time.
Borouge, listed on the Abu Dhabi Securities Exchange, is one of the world’s leading providers of innovative and differentiated polyolefin solutions for the energy, infrastructure, mobility, advanced packaging, healthcare, and agriculture industries. ADNOC owns a majority 54% stake and Borealis holds a 36% stake in Borouge.
Headquartered in Abu Dhabi, United Arab Emirates (UAE), with locations across the world, Borouge is a UAE industrial champion that employs more than 3,100 people, serving customers in 50 countries across the Middle East, Asia, and Africa.
Borouge’s growth journey has established it as one of the largest players in its markets, with more than a 10x increase in production capacity since 2001.
In 2021, ADNOC and Borealis announced the final investment decision for the Borouge 4 expansion. Borouge 4 will have an industry-leading focus on sustainability, leveraging the capabilities of both shareholders.
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 the Brazilian compounding business and assets of OPP Petroquimica S.A, a Brazilian petrochemicals company, and serves all industries from polyolefins in South America through different legal entities in Brazil, Colombia, Chile and Argentina.