OMV and ADNOC Join Forces to Create a $60 Billion Chemicals Powerhouse

In a monumental step within the global petrochemicals sector, Austrian oil and gas company OMV and the Abu Dhabi National Oil Company (ADNOC) have finalized an agreement to form a joint venture aimed at establishing one of the world's largest chemical enterprises, with an anticipated valuation of around $60 billion. This transformative deal seeks to leverage both companies' extensive capabilities and resources to create a robust entity that will significantly enhance their positions in a rapidly evolving energy market.

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