OMV, the international integrated oil, gas and chemicals 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).
With Group sales revenues of EUR 36 billion and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies. OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and sustainable polyolefin solutions. In Europe, Borealis is also an innovative leader in polyolefins recycling and a major producer of base chemicals. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe.
In Refining & Marketing, OMV produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 2,100 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe, where it also operates a gas-fired power plant in Romania.
In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%); as of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.
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.