Pradhan to flag off first lot of Abu Dhabi crude for ISPRL

Too Early To Predict Sanctions Impact On Iran Imports Says Oil Minister

Yesterday, Pradhan and UAE Minister of State and ADNOC Group CEO Dr. Sultan Al Jaber flagged off the first consignment of 2 million barrels of ADNOC crude for Mangalore Cavern on Saturday.

Abu Dhabi [U.A.E.], May 13: Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday called United Arab Emirates (UAE) a reliable partner of India while appealing to all the stakeholders of Downstream Investment Forum to invest in India.

"Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning Adnoc to become a leading global downstream player".

Plans are well advanced to expand the complex's refining capacity by more than 65 per cent, or 600,000 bpd by 2025, through the addition of a third, new refinery, creating a total capacity of 1.5 million barrels per day (mbpd). "We see a huge growth opportunity in the downstream market", Al Jaber told CNBC's Hadley Gamble during an investment forum hosted by the company in Abu Dhabi on Sunday.

ADNOC recently awarded concession rights at offshore sites to several worldwide oil companies to boost its long-term production capacity.

He further highlighted the attractive investment opportunities in the Petroleum and Natural Gas and Skill Development sectors in India and also extended an invitation to the business community in the UAE for greater collaborations and increased investments in India. By 2022, it plans to double gasoline production to about 10 million tons a year and triple petrochemicals capacity to 11.4 million tons a year. The Ruwais Derivatives Park will be built on a six square kilometer area adjacent to, and fully integrated with, the larger Ruwais complex.




ADNOC will also develop a new, large-scale manufacturing in Ruwais through the creation of new petrochemical Derivatives and Conversion Parks. ADOC believes that the facility will help attract investment and enable the creation of new petrochemical activities and value chains, such as construction chemicals, surfactants and detergents.

The new Ruwais Conversion Park will spur new business creation further down the value chain, manufacturing higher-value end products, including packaging materials, coatings, high voltage insulation and automotive composites.

Earlier, Pradhan had said that under the leadership of Prime Minister Narendra Modi, India has made tremendous strides in providing energy justice to all.

"The centerpiece when it comes to our downstream strategy is the Ruwais Industrial Complex".

To meet the needs of the new and expanded facilities, ADNOC will also undertake a "significant expansion" of Ruwais City by creating additional housing facilities, as well as infrastructure and community enhancement projects such as healthcare facilities, schools and recreational spaces.

Related news:

Hot News

isis-killer-beheading-video-story-top Alia Bhatt-starrer Raazi witnesses 50 per cent jump at Box Office
May 14, 2018 - 03:32
Looking at the current scenario, we are expecting the cross Rs 30 crore mark in its opening weekend at the ticket windows. The film is an adaptation of Harinder Sikka's novel " Calling Sehmat " which is inspired by real events.

isis-killer-beheading-video-story-top Google will remind the user to stop watching videos on YouTube
May 13, 2018 - 07:30
So if you have Netflix casting to a TV screen and nothing else running on your phone, all of that watchtime doesn't get logged. Not only does it deliver a ton of new functionality, but it's also an excellent example of the company's new "Material Theme".

isis-killer-beheading-video-story-top Najib, wife barred from leaving Malaysia
May 13, 2018 - 07:29
Najib has been accused of diverting $700 million from a state investment fund in 2015, a charge he denies. Mahathir has indicated that Mohamed Apandi would be fired for hiding evidence of wrongdoing.

isis-killer-beheading-video-story-top 14-year-old charged with attempted murder for allegedly shooting fellow student
May 13, 2018 - 07:27
Authorities also set up an area to receive anxious parents who were rushing to the school to pick up their children. Officials also said someone had called to report shots were fired in the vicinity of Manzanita Elementary School.

isis-killer-beheading-video-story-top Anwar to be pardoned and out on Tuesday
May 13, 2018 - 07:27
He said he doesn't want a "huge" cabinet, in a veiled reference to past cabinets with more than 30 ministers. However, this is the first time she is leading an election campaign since 2004.

isis-killer-beheading-video-story-top 2015 nuclear deal should have targeted Iran's policies
May 13, 2018 - 07:26
Trump would be wise to remember that he represents the United States, not just his personal interests or his political party. In addition, France and the European Union are pressing Washington for exemption from Trump's steel and aluminum tariffs.

isis-killer-beheading-video-story-top Tristan Thompson Talks About Raising His Daughter
May 13, 2018 - 07:25
" True is so great, but still I can't predict if she's going to sleep for the full two hours or if she's hungry". Despite all the noise, Thompson appears to be enjoying fatherhood with his new daughter Dream.

isis-killer-beheading-video-story-top Putin, Merkel highlight importance of preserving Iran deal
May 12, 2018 - 03:02
Merkel made the comment while addressing an audience at a Catholic conference in Muenster, according to TASS . She criticized that it was "not right" to unilaterally terminate such an important global agreement.

isis-killer-beheading-video-story-top Where to follow KXIP vs KKR live
May 12, 2018 - 03:01
It was indeed a pleasure for MI fans to watch them thrashing KKR by massive 102 runs in Eden Garden Kolkata . Lynn sprinted halfway down the pitch - only to be sent back - and with that, KKR had lost both openers.

isis-killer-beheading-video-story-top Red Sox 5, Yankees 4: Boston salvages series finale
May 12, 2018 - 03:01
Kelly proceeded to throw four straight balls of his own, walking Gardner, and Judge grounded an RBI single through the left side. Ramirez, often making predictions this year (he said he would hit 30 homers with 30 steals), made a different guess.

isis-killer-beheading-video-story-top Australia's worst mass shooting in 22 years
May 12, 2018 - 03:01
A family friend stated that the children were homeschooled for they were diagnosed with Autism, The New York Times reports . Of the seven people found at the house, five were discovered inside a converted shed, while two were found outside.

isis-killer-beheading-video-story-top Brooklyn Nine-Nine's Been Cancelled But The Show Could Live On
May 12, 2018 - 03:01
Negotiations with Universal TV went down to the wire previous year , with the comedy able to clinch a Season 4 renewal. Co-creator Dan Goor acknowledged the loss on Twitter, thanking people for an "incredible outpouring of support".

isis-killer-beheading-video-story-top Meghan McCain Sounds Off on White House Aide on 'The View'
May 12, 2018 - 02:56
For example, as a candidate, Trump had said he did not think McCain was a war hero because he had been taken captive. On " The View ", Meghan McCain said her father is "actually doing really well right now".

isis-killer-beheading-video-story-top Mets Bat Out Of Order Against Reds
May 11, 2018 - 00:38
Well, as it turns out, the Mets were caught batting out of order, apparently because they turned in the wrong lineup card. The Reds won a pitching-dominated game and took two of three from the Mets, only their second series win of the season.

isis-killer-beheading-video-story-top 21 killed after dam burst in western Kenya
May 11, 2018 - 00:37
There are concerns that the other two reservoirs owned by the farmer may also collapse, according to a BBC correspondent. The government said on Wednesday the rain had killed 132 people and displaced 222,456 in 32 counties since March.