Dharmendra Pradhan: UAE first to invest in India's first crude oil cargo
Dharmendra Pradhan: UAE first to invest in India's first crude oil cargo
Abu Dhabi Plans $45bn Refining Expansion
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.
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.
A class-action lawsuit was filed against Apple due to reported malfunctions with the keyboard on the MacBook and the MacBook Pro. Not everyone loved this "reinvention", however, and now, Apple is facing a class action lawsuit over it.
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The Falcon 9 is SpaceX's workhorse, regularly hauling satellites into orbit and supplies to the International Space Station. SpaceX founder and CEO Elon Musk expressed high hopes for Block 5, which he said will be the final version of the Falcon 9.
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Israel said the bombardment on Thursday was in retaliation for Iranian rocket fire on its positions in the occupied Golan Heights. The official Syrian news agency published these images of what it says are Israeli missiles being shot down over Syrian airspace.
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In 2012, a female shed her ear to cancer cells as well as expanded a substitute under her lower arm skin, ABC News reported. While it may be a first for the US Army, it's not, of course, the first time we've seen replacement body parts grown.
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Are Israel and Iran inching closer to war?
There was no immediate comment from Hezbollah on the latest Israeli strikes or how it might respond. Israel is blaming the Quds force of the Iranian Revolutionary Guard Corps for the attack.