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Oct 16, 2019

ADNOC, Adani, BASF and Borealis Sign MoU to Further Evaluate Collaboration for a Chemical Production Complex in Mudra, India

The Abu Dhabi National Oil Company (“ADNOC”), Adani Group (“Adani”), BASF SE (“BASF”) and Borealis AG (“Borealis”) have signed a Memorandum of Understanding (MoU) to engage in a joint feasibility study to further evaluate a collaboration for the establishment of a chemical complex in Mundra, Gujarat, India. This is the next step of BASF’s and Adani’s investment plans as announced in January 2019. With the inclusion of ADNOC and Borealis as potential partners, the parties are examining various structuring options for the chemical complex that will leverage the technical, financial and operational strengths of each company. The total investment is estimated to be up to $4 billion.

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Aug 06, 2019

ADNOC acquires stake in VTTI, owner of storage terminals in 14 countries world-wide with 60 million barrels of capacity

The Abu Dhabi National Oil Company (ADNOC) today announced a strategic investment in global storage terminal owner and operator VTTI BV (VTTI). As part of this agreement, ADNOC will acquire a 10% equity stake in VTTI. Following the transaction, VTTI will be owned 10% by ADNOC, 45% by IFM Global Infrastructure Fund (IFM GIF), an investment vehicle managed by IFM Investors, and 45% by Vitol (both directly and through Vitol Investment Partnership II Ltd, an investment vehicle sponsored and managed by Vitol).

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