Thursday, 20 September, 2018

Dharmendra Pradhan: UAE first to invest in India's first crude oil cargo

New Beginning First Ship For India’s Strategic Oil Reserve To Set Sail Today Dharmendra Pradhan: UAE first to invest in India's first crude oil cargo
Russell Knight | 13 May, 2018, 18:29

Abu Dhabi National Oil Company (Adnoc) on Saturday started supplying crude to India for its strategic petroleum reserves with the first shipment carrying 2 million barrels of oil.

ADNOC is evaluating some downstream expansion opportunities overseas with its strategic partners, he said, declining to give more details, but he said that India was a potential market.

ADNOC aims to become "a leading global downstream player, enabling it to further stretch the value of every barrel it produces to the benefit of ADNOC, its partners and the UAE", said the statement.

Pradhan tweeted after a meeting with Adnoc officials that the two parties have agreed to form a working group that will meet soon to finalise a list of projects in upstream, midstream and downstream sector where mutual investment can be considered.

Big Money in Nuveen Senior Income Fund (NYSE:NSL), Sentiment at 1.1
Bank & Trust Of America De reported 0% of its capital in Nuveen California AMT-Free Quality Municipal Income Fund (NYSE:NKX). Raymond James & Assocs holds 0% in Nuveen California AMT-Free Quality Municipal Income Fund (NYSE:NKX) or 54,294 shs.

UFC 224 Play-By-Play: Kelvin Gastelum Drops "Jacare" Souza To Pick Split Decision
Machida and Oleinik picked up "Performance of the Night" awards, and Gastelum and Souza took home "Fight of the Night" honors. Souza tried to posture up, but Kelvin held him down, only allowing his opponent to land a few short shots.

MP Board Class 10th, 12th Result to be Released Tomorrow at mpbse
New Delhi :The Madhya Pradesh Board of Secondary Education ( MPBSE ) will announce results for Class 12 at 10.30am on Monday. The board declares the results online on www.mahresult.nic.in . - Fill in the desired details and press enter.

Dr Al Jaber said the unique competitive advantages and world-scale of Ruwais, combined with a $45 billion-investment plan and its ambitious smart growth strategy, has created a unique opportunity for Adnoc to redefine the global refining and petrochemicals landscape. "Our aim here is to make it become the single largest integrated refining and petrochemicals complex in the world", al-Jaber said. The expansion would create a total capacity of 1.5 million barrels a day for Ruwais, he said.

As part of the plan, the refining capacity of the Ruwais facility, which now stands at 922,000 barrels per day (bpd), will be increased by more than 65,000 percent, or 600,000 bpd, by 2025 through an additional new refinery, creating a total capacity of 1.5 million barrels per day. Ruwais' chemicals segment will see a trebling of production capacity from 4.5 million tonnes per annum to 14.4 mtpa by 2025, as plans get underway for the world's largest mixed feed cracker. The Ruwais Derivatives Park will be built on a six square kilometer area adjacent to, and fully integrated with, the larger Ruwais complex and will act as a prime catalyst for the next stage of petrochemical transformation by inviting partners to invest and produce new products and solutions from the growing range of feedstocks that are available in Ruwais.

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

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