In the Chemicals segment, the formation of Borouge Group International (BGI) marks a significant milestone for OMV, opening up substantial growth opportunities. At the same time, increasing value chain integration and growing sustainable volumes remain key strategic pillars of the OMV Chemicals segment.
Strategic Priorities in Chemicals up to 2030:
- Drive growth through Borouge Group International
- Successful merger and integration
- Deliver organic growth projects, efficiencies, and synergies
- Maximize utilization of OMV crackers
- Further optimize end-to-end integration across value chain
- Leverage technology and innovation for circular chemicals
The growth in the Chemicals business will be accelerated through the formation of BGI. In this new structure, OMV will hold an equal share with ADNOC and the business will be consolidated at equity. BGI brings together three complementary polyolefins companies:
- Borealis, an innovative polyolefins producer with high feedstock flexibility serving primarily European and North American markets
- Borouge, a world-scale vertically integrated producer serving primarily the Middle Eastern and Asian markets and benefiting from a first quartile feedstock cost position and best-in-class margin
- NOVA Chemicals, a leading North American producer with advantaged feedstock access, proprietary technologies, and a strong position in packaging solutions.
Strategic Cornerstones of Borouge Group International:
- Leading global integrated polyolefins company: a player of scale centered around value-added segments and high-growth markets and a platform through which OMV and ADNOC will pursue their polyolefins growth strategy
- Innovation and differentiation: leader in technology, customer-centric innovation and circular solutions while expanding in high-value segments through premium and specialty products
- Advantaged cost position: ~70% of production in cost-advantaged feedstock regions, remainder benefiting from feedstock flexibility
- Attractive shareholder return: well-positioned to generate attractive shareholder returns through the cycle
Through BGI, OMV’s production profile will shift significantly, moving from 60% of production in Europe to a footprint with 70% of production in the first quartile feedstock-advantaged regions of the Middle East and North America. Furthermore, the formation of BGI is expected to generate substantial mid-term EBITDA synergies of more than USD 500 mn p.a. by 2030, with roughly 75% realized within three years of completion. Following the successful merger and integration, BGI’s floor dividend to OMV is expected to amount to USD 1 bn annually from 2026 onward with upside potential.
In the OMV base chemicals business, the two crackers in Austria and Germany rank competitively in the second quartile of the European cost curve, benefiting from upstream integration with refineries and downstream integration with BGI. OMV’s long-term ethylene and propylene supply agreements with BGI, sourced from its Burghausen and Schwechat sites, will provide benefits and stability for both companies. Looking ahead, a key priority for OMV is to maximize utilization of its crackers through deeper integration with the refineries and enhanced flexibility to process renewable feedstock via the integrated set-up, targeting a utilization rate of more than 90% by 2030, excluding turnarounds.
In addition, OMV is developing and growing sustainable sales volumes, in line with demand, to leverage its technology leadership position. OMV’s flagship project in this area is ReOil®, a proprietary chemical recycling technology. The ReOil® plant, with a capacity of 16,000 t, was completed in 2024 and operated continuously throughout 2025. The technology and market lessons learned of the ReOil® project are guiding the Company in defining the right scale and timing for future projects. In parallel, OMV is investing in profitable sorted plastic feedstock through the construction of the largest sorting facility in Europe as part of the joint venture with Interzero, ensuring a supply of cost-competitive post-consumer plastic feedstock for its facilities. Capitalizing on its integrated refining chemicals business model, the future hydrotreated vegetable oil (HVO) plants will be essential to building a profitable renewable business. Through an innovative product portfolio, OMV will drive sustainable market development aligned with evolving customer expectations.
Overall, OMV expects its base chemicals business to deliver around EUR 200 mn in clean Operating Result by 2030.