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UPDATE 1-ADNOC subsidiaries to pay $43 billion in dividends by 2030

Last Updated: October 8, 2025 19:03:31 IST

(Adds details about ADNOC, OMV merger paragraphs 3-4) ABU DHABI, Oct 8 (Reuters) – Abu Dhabi National Oil Company (ADNOC) said on Wednesday that its six publicly listed subsidiaries will distribute 158 billion AED ($43.02 billion) in dividends by 2030. Meanwhile, ADNOC Gas has signed a 146.9 billion AED ($40 billion) contract for the Ruwais LNG project. Over 80% of the project's expected capacity has been committed to long-term contracts. ADNOC also said that the merger of ADNOC and OMV petrochemical firms Borouge and Borealis, to create Borouge Group International, is on track to be completed by the first quarter of 2026 with some regulatory approvals already completed. Financing for the deal worth 56.6 billion AED has been secured by ADNOC and OMV, including to acquire Nova Chemicals. ($1 = 3.6729 UAE dirham) (Reporting by Yousef Saba;Editing by Kirsten Donovan)

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