ADNOC Ships First Cargo For Indian Strategic Oil Reserve At Mangalore

Dharmendra Pradhan Pradhan

After Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) will pick up stake in the planned $44-billion refinery-cum-petrochemical project in Maharashtra.

An official statement said Minister of Petroleum & Natural Gas Dharmendra Pradhan and UAE Minister of State Sultan Al Jaber are expected to jointly flag off the consignment during Pradhan's three-day visit to the UAE.

"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 said.

The park will source feedstock from Adnoc's refining facilities in Ruwais 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", the company said.

More news: Bollywood weekly wrap: Alia Bhatt steals the show with 'Raazi'

ADNOC wants to expand its downstream portfolio in markets where demand for oil is still growing, such as China and India, securing a new outlet for its crude.

Adnoc will store about 5.86 million barrels of oil in the cavern at its own cost, the statement said. The Vishakhapatnam storage has capacity of 1.33 MT or 9.77 million barrels, Mangalore has a capacity of 1.5 MT or 11 million barrels and Padur can stock 2.5 MT 18.37 million barrels.

In a statement, ADNOC noted that the investment programme will also include a plan to construct one of the world's largest mixed feed crackers, trebling production to 14.4 mtpa by 2025, up from 4.5 tpa in 2016.

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. This will enable the creation of numerous new petrochemical activities and value chains, in such fields as construction chemicals, oil and gas chemicals, surfactants and detergents, to name just a few. The Conversion Park, occupying another 3.6 square kilometers, will also act as a catalyst for the creation of focused industry clusters, that cannot only supply products and solutions using the derivatives and other facilities available, but will also leverage the proximity of such an interconnected ecosystem to drive expertise, innovation and entrepreneurship.

Related News:

  • Wayne Rooney says goodbye to Everton teammates, staff

    Wayne Rooney says goodbye to Everton teammates, staff

    That's why the big thing was he was really well developed, strong and able to play senior football very early on". He's had to deal with so much in his life. "It was always because he was a footballer".
    Four killed, over 20 injured in multiple blasts in Afghanistan's Jalalabad

    Four killed, over 20 injured in multiple blasts in Afghanistan's Jalalabad

    In January, gunmen attacked an office of aid group Save the Children in Jalalabad, killing at least five people and wounding 25. Other terrorist groups, such as Daesh* have also expanded their activities in the country and neighboring states.
    In 2018 SSC Result To be Declared In 1st Week Of June

    In 2018 SSC Result To be Declared In 1st Week Of June

    While more than 11 lakh candidates appeared for the Class 10 Exam, more than 7 lakh students registered for the Class 12 Exams. Results are also available on some other websites including the board's mirror sites like result.mkcl.org.
  • McCain comment leak was 'selfish,' Sanders says

    McCain comment leak was 'selfish,' Sanders says

    Despite the controversy over the remark, Mulvaney said Saturday he does not support calls for Sadler to be fired. Then at least five White House staffers promptly leaked Sanders' scolding to the media.
    Five observations: White Sox blown out in Wrigley again

    Five observations: White Sox blown out in Wrigley again

    Realmuto had three hits, including his fifth homer, and Miami broke a four-game losing streak with a win over visiting Atlanta. After hitting four home runs in two games against the Royals on April 26 and 27, Matt Davidson has yet to hit a homer since.

    President Trump backs out of the Iran Nuclear Deal

    If Iran's leaders were reckless enough to try to amass bomb-grade material, it would very likely be detected within days or weeks. As for what will happen next, no one is quite sure.
  • Fortnite Buffs Thanos' damage, The Avengers: Infinity Mode balance

    Fortnite Buffs Thanos' damage, The Avengers: Infinity Mode balance

    Lupita Nyong'o's Nakia played a pivotal role in Black Panther and helped convince T'Challa to open Wakanda up to the world. Howard the Duck debuted in Guardians of the Galaxy and was last seen partying it up in Guardians of the Galaxy Vol. 2 .
    United Airlines Kicked Out Nigerian Woman Because Of 'Pungent' Odor

    United Airlines Kicked Out Nigerian Woman Because Of 'Pungent' Odor

    At that point, the flight attendant should have taken measures against the man since he was blocking another passenger's seat. Obioma said the drama started when she and her family boarded a United flight at Bush Intercontinental Airport in Houston.
    Israeli officials admit striking Syria airbase in April

    Israeli officials admit striking Syria airbase in April

    Iran denied the claim that it fired rockets at Israeli territory and insisted it does not maintain military bases in Syria. The military directive Tuesday came "following the identification of irregular activity of Iranian forces in Syria".
  • Yesterday Stock's Trend: Starbucks Corporation (SBUX), Baidu, Inc. (BIDU)

    Yesterday Stock's Trend: Starbucks Corporation (SBUX), Baidu, Inc. (BIDU)

    The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. This buyback authorization authorizes the coffee company to reacquire shares of its stock through open market purchases.
    Chinas first home-built aircraft carrier begins sea trials

    Chinas first home-built aircraft carrier begins sea trials

    Officials of the Navy said, several aspects of the new carrier are different from those on the Liaoning. State media has quoted experts as saying that the country needs at least six carriers.
    Netanyahu warns Assad against responding to attack on 'Iranian' targets

    Netanyahu warns Assad against responding to attack on 'Iranian' targets

    Iranian analysts said Israel had struck first on Thursday, and that any retaliation was the work of the Syrian military, not Iran. And now a large Palestinian Day of Rage is planned for Monday when the US officially moves the American Embassy to Jerusalem .


Most liked

Conoco authorized to seize $636 mln in Venezuela PDVSA assets
Earlier this week, the US company said it would continue to pursue PDVSA's assets while trying to enforce the arbitration award. PDVSA's deteriorating infrastructure and declining oil export revenues have thrown Venezuela into severe recession.

Alibaba Group (BABA) Shares Bought by Wetherby Asset Management Inc
Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. Vestor Capital Llc increased its stake in Pepsico Inc (PEP) by 7.96% based on its latest 2017Q4 regulatory filing with the SEC.

Mohanlal Is Happy For Dulquer Salmaan & Keerthy Suresh!
The celebrities across film industries and fans alike have been in awe of the duo, and have been showering praises on them. Also starring Samantha Akkineni and Vijay Deverakonda , among others, Mahanati released on May 9.

Apple slapped with class-action lawsuit over faulty MacBook Keyboards
Apple's silence over issues related to its allegedly flawed MacBook and MacBook Pro keyboards just got a whole lot more deafening. Apple has advertised this keyboard as being more responsive and comfortable than its predecessor.

Lewis Hamilton sneaks pole ahead of Valtteri Bottas
The two home favourites, Fernando Alonso and Carlos Sainz, gave the Spaniards something to cheer in eighth and ninth. Stroll almost hit the tire barriers after going off the track with about a half-hour left in the first session.

Exact time of Thiem-Zverev final — Madrid Open
The 24-year-old used the same formula to win both sets, breaking early before comfortably serving out the contest. His long absence has taken him out of the seedings, ranked 25, and raises questions about his match-fitness.

Citizenship (Amendment) Bill infringe the Rights of Indigenous People
If State government want its promise to protect " jati , mate, bheti " (community, land, home), they should oppose the bill. And lets us take a pledge to stop the ulterior motive of BJP government both at the center and state.

Bangabandhu Satellite-1 Mission
Late Friday afternoon, SpaceX successfully launched and landed the Block 5 upgrade of its Falcon 9 rocket for the first time. That's more than half of the estimated overall $62 million price of the Falcon 9, according to various trade publications.

Man City boss Guardiola angry Foden, Brahim denied medals
Hughton's Seagulls finish the season at Anfield on Sunday having lost their penultimate fixture at the Etihad Stadium in midweek. However, we are predicting a 3-1 for the Citizens, and our pick is available at much better odds of 11/1 at the same bookmaker.

23 held for beating woman to death
A week ago, on April 29, a 30-year-old man was similarly mistaken for a thief and lynched to death at Gudiyatham town in Vellore. A 65-year-old woman died after she and her family members were attacked by a mob in Tiruvannamalai district, Tamil Nadu.

White House Condemns Iran Rocket Attack, Supports Israel Defense
One TV station, Beirut-based Al-Mayadeen, said at least 50 missiles were fired from Syria at Israeli forces in the Golan Heights. One of the largest of these, less than two weeks ago, may have killed Iranian personnel, causing tension to spike.

Google adding machine learning-based Smart Compose to Gmail this month
There is no option to change the phone number; if it is wrong, you can not open the email and it will expire eventually unread. So, if you find this update hard to digest just yet, play around with customisations and see what suits you the best.

Israel hits dozens of Iranian targets in Syria after barrage
It also brought an end to what had been a friendly relationship between Iran and Israel and triggered their ongoing conflict. Those rockets either missed their targets or were intercepted by its Iron Dome air defense system, the spokesman said .

Happy to stay at Liverpool, says Salah
However, the Egyptian hasn't scored in two consecutive Premier League games for only the second time this season (also two in October).

Antonio Conte laments the loss of Michael Emenalo at Chelsea
Antonio Conte has hinted that he may rotate his Chelsea FC team for their crunch clash with Newcastle United on Sunday. . Asked if appointing a new technical director should be a matter of urgency, he replied: 'This is not my decision.