ADNOC: Negotiations to create a new global group for the production of poly -olefins

Abu Dhabi on February 1 / WAM / The Abu Dhabi National Oil Company “ADNOC” confirmed that there are ongoing negotiations in a constructive and positive way with the “OVAG” company on the possibility of creating a new global group for the production of poly Octins, through the proposed integration of their two current pads in The Buruz Buruj and Burisa AG “Burialis” companies, and the acquisition of the Nova Chemical Company “Nova”, owned by Mubadala Investment Company “Mubadala”, is studied and included in the new joint entity.

It is worth noting that these transactions are subject to the agreements, organizational approvals and the relevant related conditions. ADNOC will provide more information on this topic in a timely manner.

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