The Bourouge petrochemicals hub at Ruwais
Adnoc maps out chemicals future
The Emirati oil heavyweight’s downstream strategy takes firmer shape
State-owned Adnoc’s late-April acquisition of a 25pc stake in Austrian chemicals firm Borealis held by the emirate’s Mubadala investment vehicle in one sense merely shifted an asset from one government pocket to another. However, it was also symbolic of the increasing focus on petrochemicals by the NOC over the past six months. The period was bookended by concretisation of two multibillion-dollar petchems schemes at Ruwais, the emirate’s established downstream hub. In November, Borouge, a 24-year-old joint venture between Adnoc and Borealis, took FID on a $6.2bn fourth-phase expansion at its existing plant—raising capacity from 4.5mn t/yr to 6.4mn t/yr by 2025 and restoring its position as t
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
