ADNOC’s investment arm XRG and OMV have formed Borouge Group International AG with 50% stakes each in the company, having a total valuation of USD 60 billion. It is one of the largest polyolefins producers in the world.

Apr 01, 2026

ADNOC’s investment arm XRG and OMV have successfully formed Borouge Group International, marking the creation of one of the world’s largest polyolefins producers. Borouge Group International AG will be jointly controlled as an equal partnership between XRG and OMV AG, each holding a 50% stake in the company.

Formed from the combination of three regional leaders Borouge, Borealis, and NOVA Chemicals, Borouge International brings together global scale, premium technologies, and deep application expertise to unlock unmatched capabilities in the industry, serving its customers better and more competitively around the world.

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Dr. Sultan Ahmed Al Jaber, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, has been appointed Chairman of the Supervisory Board of Borouge Group International AG.

Commenting on the appointments, Dr. Sultan Ahmed Al Jaber, said: “Borouge Group International is set to become a leading global industry powerhouse that will drive the next wave of industrial growth and deliver long-term returns for our shareholders, aligned with the long-term strategic vision of ADNOC and OMV. This world-class leadership team underscores our ambition, bringing strong expertise in advanced technologies and global market development, to deliver the essential materials the world needs. I look forward to working closely with them.”

The company’s production capacity is set to reach 13.6 million tonnes per year, supported by near-term growth projects such as the Borouge 4 complex, which will add 1.4 million tonnes of capacity.

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The executive leadership team comprises Mr. Roger Kearns as Chief Executive Officer, Dr. Stefan Doboczky as Chief Commercial Officer, and Dr. Hasan Karam as Chief Operating Officer. The new external Chief Financial Officer will be appointed by May 2026, with Mr. Daniel Turnheim to serve as interim CFO.

The creation of Borouge International showcases a significant consolidation in the global chemicals sector, positioning the company to capture growth opportunities in the advanced materials segment.