UAE makes history in Indian oil

Pradhan to flag off UAE carrier with 2 million barrels of crude oil today

He also said that the first cargo of crude oil from the Abu Dhabi National Oil Company (ADNOC), destined for the Indian Strategic Petroleum Reserves Ltd (ISPRL) has sailed.

"We are extending an invitation to both existing and new partners to join with us in building a world-leading refining and petrochemicals complex and manufacturing ecosystem here in Ruwais", he said.

The work will upgrade the refining and petrochemicals plant at Ruwais in partnership with worldwide energy firms, he said.

The project aims to boost ADNOC´s refining capacity by 65 percent to 1.5 million barrels per day by 2025, the state-owned firm´s CEO Sultan al-Jaber told a downstream investment forum.

"We will invest significantly in Ruwais and open up attractive partnership and co-investment opportunities along our extended value chain to create a powerful new downstream engine and springboard for growth that will benefit our country, our company and our partners", he added.


Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Saturday took a jibe at Congress, stating that as opposed to previous regimes, Prime Minister Narendra Modi-led government has worked hard to earn 10 per cent partnership in an offshore oilfield in Abu Dhabi.

ADNOC plans to expand refining and petrochemical operations at Ruwais by adding a third refinery to boost capacity by 600,000 barrels per day (bpd) by 2025, lifting total refining potential to 1.5 million bpd. This is Adnoc's first major investment in the Indian energy sector. Adnoc wants to expand its presence, mainly in the downstream sector, in markets like India and China where demand for oil is rising.

Adnoc's facilities now process 10.5 billion standard cubic feet of gas per day and produce some 40 million tonnes annually of refined products, such as granulated urea, liquefied petroleum gas (LPG), naphtha, petrol, jet fuel, gas oil and base oils, fuel oil, as well as feedstock for chemicals.

In a statement, ADNOC noted that the investment programme will also include a plan to construct one of the world's largest mixed feed crackers, trebling production to 14.4 mtpa by 2025, up from 4.5 tpa in 2016. This will enable the creation of numerous new petrochemical activities and value chains, in such fields as construction chemicals, oil and gas chemicals, surfactants and detergents, to name a few.

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