Pradhan calls UAE 'reliable partner of India'

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

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Currently, ADNOC's downstream portfolio of eight companies processes about 10.5 billion standard cubic feet (scf) of gas per day, and produce 40 million tonnes per year (mpta) of refined products as well as granulated urea, liquefied petroleum gas (LPG), naphtha, gasoline, jet fuel, gas oil and base oils, fuel oil and other petrochemical feedstock. Downstream Investment Forum is a very important forum and UAE is a reliable partner of India. The first consignment of 2 million barrels of ADNOC crude for the Mangalore cavern was loaded in the presence of oil minister Dharmendra Pradhan and ADNOC Group Chief Executive Sultan Al-Jaber.

ADNOC will also develop a new, large-scale manufacturing in Ruwais through the creation of new petrochemical Derivatives and Conversion Parks.

"Importantly, the expansion plans for Ruwais will also support Abu Dhabi and the UAE's economic development and diversification, create high-skilled jobs and enhance the country's status as a globally attractive destination for energy investments", he added.

The barrel loading comes the day before ADNOC hosts a major Downstream Investment Forum in Abu Dhabi, where it will unveil more details of its expanded Downstream Strategy, including its new Ruwais industrial hub masterplan. "We are also happy that they are supporting their families back home in India", Hamli told ANI in Dubai.

Adnoc is now accelerating this transformation by unveiling its plans to become a leading global downstream player.

ADNOC will again welcome long-term partners who bring operational expertise, technology, financial acumen and the ability to develop and open new markets.

Adnoc will again look to create long term downstream partnerships, providing access to the most attractive parts of the energy value chain, to redefine he company's future growth. Now, the Saudi national oil company is diluting some of that stake to ADNOC, they said.

State-owned Adnoc will increase its current refining capacity of 922,000 barrels per day (bpd) - already the world's fourth largest - by addition of a new 600,000 bpd refinery that will boost its total capacity to process crude and condensate to 1.5 million bpd, making it the largest such facility in the world.

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.

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