Covestro raised its 2026 profit forecast after first-half EBITDA surged 64% to €669 million, as price hikes outpaced rising raw material costs. The German chemical giant also announced plans to delist
UAE state oil giant ADNOC launched a unified LNG marketing and trading platform integrating ADNOC Gas, XRG, and ADNOC Trading. The platform targets 47 million metric tons annually by 2035 to optimize
Sinokor Group leased supertankers to UAE's Adnoc for covert shuttle runs through the Strait of Hormuz during the Iran conflict, transporting up to 1.4 million barrels daily. These operations influence
ADNOC plans to shift pricing for three crude grades from Murban futures to Dubai benchmark differentials, affecting long-term contracts, while flagship Murban crude retains its current mechanism.
ADNOC is exploring upstream and LNG investment opportunities in Canada via its international arm XRG, aiming to expand abroad amidst Canada's push to diversify exports beyond the US market.
Adnoc’s XRG plans to acquire remaining Covestro minority shares at €59.46 per share after securing 95.1% ownership. This transaction marks the final step in consolidating control over the major chemic
Adnoc’s XRG secured final regulatory approval for its takeover of Covestro. The transaction closes soon, with Covestro retaining operational autonomy following completion.
The EU granted conditional approval for UAE's Adnoc to acquire Covestro, requiring the chemical firm to share sustainability patents under specific terms to address competition concerns.
ChemBrief