Petrochemicals Borouge profit rises on high-value product sales By Pramod Kumar February 4, 2025, 5:08 PM Borouge A researcher at a Borouge innovation centre. The company plans to pay a $1.3 billion dividend in 2025 The net earnings of Borouge, Abu Dhabi’s listed petrochemicals company, jumped 24 percent year on year to $1.2 billion in 2024, supported by record production and sales volumes. Annual revenue rose 4 percent to $6 billion, while total costs improved by 2 percent. The high-value infrastructure services segment accounted for 40 percent of total sales volume. Asia Pacific remained the top destination for sales. Fourth-quarter net profit increased 15 percent to $331 million. Sales volumes rose but total production remained flat. The board reaffirmed plans to distribute a final dividend of 7.94 fils per share in April 2025, bringing the 2024 dividend payout to $1.3 billion. The company has distributed almost $3 billion in dividends since its initial public offering in 2022. The Borouge 4 project, developed for Adnoc and Borealis, is hoped to increase the company’s production capacity by 28 percent and generate annual revenue of up to almost $2 billion. “The Borouge 4 strategic expansion project will transform the scale of production by almost a third and enhance our innovation capabilities, driving sales growth in our major markets,” said CEO Hazeem Al Suwaidi. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
