AD­NOC plansto triple petrochem out­put

Kuwait Times - - BUSINESS -

State-owned Abu Dhabi Na­tional Oil Co (AD­NOC) plans to al­most triple its petro­chem­i­cal pro­duc­tion to an an­nual 11.4 mil­lion tons by 2025 from 4.5 mil­lion tons at present, group chief ex­ec­u­tive Sul­tan Al-Jaber said yes­ter­day. “To achieve this we will seam­lessly in­te­grate our petro­chem­i­cal and re­fin­ing busi­ness, and as sup­plies of gas be­come tighter, we will ex­pand our feed­stock be­yond eth­ane to in­clude naph­tha,” Jaber said in a speech at an en­ergy in­dus­try con­fer­ence. Jaber did not give any de­tails of AD­NOC’s ex­pan­sion plan but said the com­pany aimed to take ad­van­tage of a shift in de­mand from lower-growth mar­kets in the West to high-growth mar­kets in Asia.

He also sug­gested that petro­chem­i­cal pro­duc­ers in the six-na­tion Gulf Co­op­er­a­tion Coun­cil should ex­plore new ways of work­ing to­gether, in­clud­ing joint in­vest­ments in projects. “By work­ing to­gether, lever­ag­ing our com­bined strengths, align­ing our in­ter­ests and in­vest­ing to­gether, we can ex­tend our reach, in­crease our com­pet­i­tive ad­van­tages and grow our mar­ket share.”

AD­NOC’s petro­chem­i­cals are pro­duced by Abu Dhabi Poly­mers Co (Bor­ouge), which makes poly­olefin, and Ruwais Fer­til­izer In­dus­tries (Fer­til), which pro­duces urea and am­mo­nia fer­tilis­ers. — Reuters

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.