Commercial operation is set to begin in 2027 with construction scheduled to begin in the first quarter of 2023
Downstream investment
Latest in Downstream investment
Aramco
Saudi Aramco to invest $7 billion in new South Korea plant
The project, titled Shaheen, is expected to start in 2023 and be completed by 2026
Abu Dhabi
Abu Dhabi’s ADNOC acquires 25 percent stake in Borealis from Mubadala
Borealis will be 25 percent owned by ADNOC and 75 percent owned by OMV, an Austrian multi-national integrated oil, gas, and petrochemical company listed on the Vienna Stock Exchange
China
Aramco JV looks to develop a major liquids-to-chemicals complex in China
The project presents an opportunity for Aramco to supply up to 210,000 barrels per day of crude oil feedstock to the complex
Abu Dhabi National Oil Company
UAE’s Adnoc eyes Chinese refining projects under new deal
Abu Dhabi National Oil Company signs an agreement with China National Offshore Oil Corporation for future collaboration
crude production
Saudi Aramco’s gas deal signals commitment to oil cuts, Brookfield says
Saudi Aramco announced that it’s taking a 25% stake in Sempra Energy’s Port Arthur liquefied natural gas terminal in Texas
Abu Dhabi National Oil Company
Adnoc, Exxon eye new deals as $30bn UAE project progresses
Abu Dhabi National Oil Company is exploring new opportunities with Exxon Mobil Corporation as work continues on a joint project in the UAE
ADNOC
Adnoc says no plans to acquire Reliance Industries refinery stake
Saudi Aramco is said to be in ‘serious discussions’ to acquire the stake, with a possible agreement on valuation by early as June
Abu Dhabi
Adnoc unit awards design contract for new oil refinery
Adnoc Refining says Wood Group picked for refinery project with capacity of 600,000 barrels of crude oil per day
ADNOC
UAE eyeing further oil investments in India
Sultan Ahmed Al Jaber, CEO of the ADNOC, received a lifetime achievement award at Petrotech Conference from Prime Minister Narendra Modi
Abu Dhabi
Abu Dhabi approves ADNOC’s $132bn five-year growth plan
ADNOC’s five-plan includes a gas strategy to become self-sufficient, with the potential to be a net gas exporter