Adnoc to supply first oil cargo for Indian emergency reserve

State-owned refiners Indian Oil Hindustan Petroleum and Bharat Petroleum will together own 50% of the Ratnagiri refinery

State-owned refiners Indian Oil Hindustan Petroleum and Bharat Petroleum will together own 50% of the Ratnagiri refinery

During his UAE visit, Pradhan will also meet his UAE counterpart Suhail Mohamed Al Mazrouei to discuss issues of bilateral hydrocarbon engagement, the statement said. "This will be the first such investment by any foreign company in Indian Strategic Petroleum Reserve facility", it said. Vishakhapatnam storage has a capacity of 1.33 million tonnes (9.77 million barrels) of crude oil, Mangalore has a capacity of 1.5 million tonnes (11 million barrels) and Padur can stock 2.5 million tonnes (18.37 million barrels).

The United Arab Emirates, including the sheikhdom of Abu Dhabi, holds about 6 percent of the world's proven crude reserves.

Speaking to about the 3.3 million Indian nationals in UAE, he said, "We are working on a very ambitious skill mapping programme, where we map the demands of the UAE job market with the skill development programmes in India".

As part of its investment strategy, ADNOC will create the world's largest integrated refining and petrochemicals complex in Ruwais and undertake a highly targeted overseas investments to secure greater market access.

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.

Price solid in return as Red Sox beat Blue Jays, 5-2
Outfielder Dalton Pompey was optioned to Triple-A Buffalo. "Hopefully it's the first of many", Alford said of his first RBI. Xander Bogaerts stroked his fourth homer leading off the fourth for Boston to tie the game, and that should have been it.

"As in the past, our full potential will be accelerated through value-adding partnerships, so 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 added.

Ruwais, which now includes two refineries and petrochemicals facilities, owned and operated by Borouge - Adnoc's joint venture with Austria's Borealis - will be see development of a six square kilometre derivatives and conversions park that will be integrated with the larger complex.

The park is set to produce higher-value chemical products such as packaging materials, coatings, flooring, high voltage insulation and automotive composites.

Adnoc, which is inviting investment in these facilities from global industry players will "make available land, infrastructure, utilities and shared services at attractive rates" for partners, it said.

Latest News