ABU DHABI, UAE (WAM) – Christian Stocker, Chancellor of the Republic of Austria, yesterday visited ADNOC’s Headquarters during his official visit to the United Arab Emirates.
The visit followed a tour at the Make it in the Emirates platform where he met with Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), Chairman of Masdar and Executive Chairman of XRG.
The visit follows the recent completion of the transactions by OMV Aktiengesellschaft (OMV) and ADNOC’s global investment arm, XRG, to form Borouge International, through the combination of Borouge and Borealis and the acquisition of NOVA Chemicals, creating a global polyolefins leader.
Austria is one of ADNOC’s most strategically important European partners, underpinned by significant, longterm capital alignment and deep integration through OMV. Over the last 25 years, ADNOC has invested US$9 billion (AED33 billion) across Austria’s energy, fuels and chemicals sectors, supporting around 25,000 jobs in the country.
ADNOC currently holds a 24.9 percent shareholding in OMV, which is expected to be transferred to XRG, subject to customary regulatory and corporate approvals.
NEWS AND IMAGE COURTESY: WAM NEWS (www.wam.ae)
