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The newly commissioned Propane Dehydrogenation (PDH) unit at the Ruwais facility of ADNOC Refining has achieved full production of polymer-grade propylene. ADNOC Refining CEO regarded the PDH unit as a key element of ADNOC Refining’s expansion strategy, enabling maximum value for ADNOC’s downstream productions. The PDH unit processes propane to generate half a million tons per year of polymer-grade propylene.
Continuing on the downstream expansion strategy, oil major, Abu Dhabi National Oil Company (ADNOC) incorporated a specialised coker unit as part of its Carbon Black and Coker Project. The new delayed coker unit will enable ADNOC to recover highly specialised and valuable grades of carbon black and calcined coke. The UAE state-owned firm is eyeing the growth in Asian market for its petrochemical business.
Japanese joint venture, JERA has entered into a Memorandum of Agreement with ADNOC LNG for the purchase of upto eight cargoes of LNG. The deal term is for 3 years, ending in 2021. JERA said in a statement that the deal will help the venture to respond to LNG demand fluctuations. The Japanse JV has in the recent times struck a lot of deals for LNG purchase.
ADNOC has awarded a pre-FEED preparation and licensor evaluation contract to the Worley Parsons’ global consulting firm, Advisian. The firm will carry out the pre-FEED and the licensor assessment for the expansion of Borouge-4 Plant, which is under the JV between ADNOC and Borealis. ADNOC is planning to invest over $45b in its downstream operations to build the world’s largest integrated refining and petrochemical facility in Ruwais.
ADNOC and Chinese state-owned CNPC are believed to be closing in on a deal pertaining to a major investment into upstream and downstream businesses. The UAE oil major is putting into execution its plans to almost double its refining capacity and triple petrochemicals output potential by 2025. ADNOC has diverted its focus on the expansion of its downstream division to capture new growth markets.
As part of their three year agreement, Abu Dhabi Sports Council (ASDC) and ADNOC are coming together to host the first Abu Dhabi Marathon. The marathon, scheduled in December, will be organized over a course of 42.195 km and will showcase the city of Abu Dhabi to the world. ADNOC has entered into an agreement with ASDC which gives the company rights to name events.
ADNOC today assured that it stands ready to boost its production in accordance with OPEC directives. The company has a production capacity of approximately 3.3 million bpd presently, and is moving positively towards its plan of increasing production capacity to 3.5 million bpd by the end of this year.
Al Yasat, a joint venture between ADNOC and Chinese oil giant CNPC, has granted Bu Haseer field development contract to Abu Dhabi’s National Petroleum Construction Company (NPCC). The scope of the agreement involves engineering, procurement, construction, and commissioning (EPCC) activities for offshore facilities, intended on raising the production capacity of the Bu Haseer field to 16,000 bpd in 2020.
UAE state-owned ADNOC yesterday signed a memorandum of understanding with Saudi Aramco to acquire stakes in India’s $44-billion West Coast refinery. Aramco, this year in April, bought 50% stake in the Ratnagiri Refinery and Petrochemicals, from the Indian consortium of oil marketing companies (OMCs). In return, Indian oil companies will bid for hydrocarbon fields in UAE, as a part of the consortium.
UAE’s state-owned ADNOC is purchasing a 25% stake from Saudi Aramco in the $44 billion refinery and petrochemical project in India. The company will enter into an agreement with Saudi Aramco and Indian companies (IOCL, HPCl, and BPCL) on Monday. This decision is being seen as the realization of the growing fuel demand in Asia, which will prove to be a stable outlet for the crude they produce.
HSBC Holdings and Goldman Sachs are being said to advise UAE’s ADNOC on a 40% stake sale of its $20 billion refining unit, valued at around $8 billion. The company is looking at offers from potential partners who could buy stakes in its refining business. ADNOC had, earlier, revealed plans to invest some $45 billion in refining and petrochemical projects, in its bid to expand capacity to process oil.
To become a leading downstream player across the globe, the UAE oil major ADNOC has disclosed its plans of capitalizing $45 billion over the next five years together with partners. This is in line with the company’s 2030 strategy of a more profitable upstream, more valuable downstream, sustainable and economic gas supply, underpinned by more proactive and adaptive marketing and trading.
According to an agreement between Abu Dhabi National Oil Company (ADNOC) and Indian Strategic Petroleum Reserves Ltd. (ISPRL), the first cargo of crude oil from ADNOC has been loaded for Mangalore Strategic Crude Oil Reserve. According to Indian officials, this project will provide a boost to India’s energy security and help them deal with supply side disruptions.
JODCO Lower Zakum Limited, a wholly-owned subsidiary of Japan’s INPEX Corp. has been appointed as the asset leader for Abu Dhabi’s Lower Zakum concession area by ADNOC. This move is followed by the award of 10% stake in offshore Lower Zakum concession to INPEX in February, 2018. INPEX also maintained its 40% stake in Satah and increased its Umm Al Dalkh share from 12% to 40%.
Abdulaziz Alhajri, downstream director at ADNOC addressed the largest R&D conference for the oil and gas industry, International Research and Development Petroleum Conference and Exhibition (RDPETRO) in Abu Dhabi. In his keynote speech he emphasised that increasing global demand for high-value refined and petrochemical products is creating new growth opportunities across the value chain, at a time when unlocking oil and gas resources becomes more challenging.
Chiyoda Corporation, the Japanese engineering major, has concluded a Memorandum of Understanding (MOU) with Abu Dhabi Gas Liquefaction Company Limited (ADNOC LNG) to provide state-of-the-art digital technologies, including artificial intelligence and big data analytics, on ADNOC LNG’s facilities. Chiyoda is striving to achieve the objective of ‘technology and business innovation (developing a new business model for a digital society)’.
The Ministry of Municipal and Rural Affairs (MOMRA) has awarded license to ADNOC Distribution to own, operate and manage fuel service stations in Saudi Arabia. This license shall pave the way for ADNOC Distribution to spread its roots vigorously as it is committed to expand choice for fuel customers, to improve its convenience store offering and being cost-efficient.
At ADNOC Distribution’s first Annual General Meeting (AGM), the shareholders of the company approved a $200 million dividend payment. ADNOC Distribution is UAE’s largest fuel and convenience retailer and the dividend has been approved owing to the landmark achievements of the firm in 2017 and its successful listing on the Abu Dhabi Securities Exchange (ADX).