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Austrian OMV gains $141 million in profits from Borouge and Borealis merger during Q2

The Austrian energy company OMV said that the Borouge-Borealis merge will have a positive impact of 120 million euro ($140.8) on its operating result for the second quarter before special effects. This was part of an update to trading on Tuesday.

After almost two years of negotiation, Abu Dhabi National Oil Company and OMV decided in March to combine their polyolefin business to create Borouge Group, a chemicals powerhouse with a $60 Billion enterprise value.

OMV said that it also expected to take a 400-million-euro hit on its operating cash flow adjusted from Romania and Norway, compared with the first quarter.

The report added that "in the second quarter 2025, it is expected that net working capital effects will be positive and amount to a low triple-digit million-euro amount."

OMV reported lower average energy costs in the second quarter. Average natural gas prices dropped by 23% on a quarter-on quarter basis, and average realized crude prices declined by 9% to $66.2 a barrel. $1 = 0.8521 Euros (reporting by Tristan Veyet in Gdansk and Isabel Demetz, edited by Milla Nissi Prussak).

(source: Reuters)