ADNOC pivots to downstream
ABU DHABI, March 7, 2018 – ADNOC plans to turn the Ruwais refinery into the world’s largest integrated refining and petrochemicals complex, the Abu Dhabi NOC announced on Wednesday.
The ambitious refinery upgrade, which has been long in the works, is part of a larger pivot for the company towards downstream, the statement added. The total refining capacity of the plant is projected to double while its petrochemical output will go up 200% by 2025.
“We will unveil significant co-investment opportunities for all partners, ready to work alongside us at a special event this coming May, as we transform our Downstream portfolio domestically and internationally,” said Sultan Ahmed Al Jaber, UAE minister of state and ADNOC Group CEO. Speaking at the CERAWeek conference in Houston, Al Jaber announced a downstream investment forum to be held in Abu Dhabi on May 13 and 14.