UAE's Adnoc Targets More Chemicals Growth After Mega OMV Deal [Yahoo! Finance Canada]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The transaction is Abu Dhabi National Oil Co.'s latest big bet on chemicals. The company sees demand rising for products like plastics even as the energy transition forces many consumers to switch away from burning fuels for transport. The deal, which includes the joint purchase of Nova Chemicals for $13.4 billion, will boost output capacity 30-fold from when Adnoc first started its petrochemical unit Borouge Plc over 25 years ago, Khaleed Salmeen, chief executive officer at Adnoc's downstream business, said in a Bloomberg TV interview. Read: UAE's Adnoc and OMV Agree to Form $60 Billion Chemical Giant Adnoc and OMV on Tuesday said they agreed to merge their units Borealis AG with Abu Dhabi-listed Borouge to create Borouge Group International, which will be be the world's fourth-biggest chemicals producer in its segment. Middle East oil producers are expanding in the sector as they see increased need for lightweight plastics for everything from electr
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- OMV (OTCMKTS:OMVKY) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating.MarketBeat
- OMV (OTCMKTS:OMVKY) had its "underweight" rating reaffirmed by analysts at Barclays PLC.MarketBeat
- OMV (OTCMKTS:OMVKY) was downgraded by analysts at Berenberg Bank from a "strong-buy" rating to a "hold" rating.MarketBeat
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- OMV AG (OMVKY) Hits Fresh High: Is There Still Room to Run? [Yahoo! Finance]Yahoo! Finance