His Excellency Christian Stocker, Chancellor of the Republic of Austria, visited the headquarters of Abu Dhabi National Oil Company (ADNOC) on May 8 as part of his official trip to the United Arab Emirates. The visit included a tour at the Make it in the Emirates platform and a meeting with Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, Chairman of Masdar, and Executive Chairman of XRG.
The visit comes after recent transactions involving OMV Aktiengesellschaft (OMV) and ADNOC’s global investment arm XRG. These transactions led to the formation of Borouge International through combining Borouge and Borealis as well as acquiring NOVA Chemicals. The resulting entity is described as a global leader in polyolefins.
Austria remains one of ADNOC’s most important European partners with strong capital alignment through OMV. Over the past 25 years, ADNOC has invested $9 billion (AED33 billion) in Austria’s energy, fuels, and chemicals sectors. These investments have supported approximately 25,000 jobs in Austria.
Currently, ADNOC holds a 24.9% shareholding in OMV. This stake is expected to be transferred to XRG following customary regulatory and corporate approvals.
