Adnoc unveils $45bn downstream investment plan

14 May, 2018, 00:25 | Author: Roderick Gutierrez
  • Dharmendra Pradhan Pradhan

"We are also happy that they are supporting their families back home in India", Hamli told ANI in Dubai. Our per capita energy consumption is very modest which will increase in the coming years.

Adnoc's new refinery, which will boost its current capacity more than 65 per cent by 2025, will add to greater flexibility in refining and processing of crude to include other grades apart from the UAE's flagship Murban crude. The UAE last year approved five-year spending plan of Dh400bn to be invested in exploring for the country's sour gas reserves as well as acquiring and developing downstream assets overseas.

While talking about important discussions that took place between India and the UAE, he further said that they are planning to set up a food corridor on the demand of UAE. "I appeal all the stakeholders in this energy business to come and invest in India", added Pradhan. Indian energy consumption is expected to more than double by 2040, accounting for 25 percent of the rise in global energy, and the largest absolute growth in oil consumption.

The Union minister, who is on a three-day visit to the UAE, also said under the Prime Minister Narendra Modi's leadership, their endeavour has been to provide affordable, sustainable and clean cooking fuel, energy and electricity to all and that has also made India an attractive investment spot, especially in the energy sector. "In the near future, the growth rate will be more stablised, we are expecting more energy requirement", he said.

An amended and restated oil storage and management agreement was signed between ISPRL and ADNOC during the visit of Prime Minister Narendra Modi to the UAE. "But in last two months, the electricity has reached to nearly every village".


This comes in the backdrop of the meeting held between Union Petroleum and Natural Gas Minister Dharmendra Pradhan and the UAE Minister for Human Resources and Emiratization at Grand Hyatt at Dubai.

UAE Minister of State and ADNOC Group chief executive Sultan Al Jaber said ADNOC will create the "world's largest single integrated refining and petrochemicals complex" in partnership with global partner companies within the next five years.

"There was an oil minister earlier too".

The historic shipment is the first under an agreement between Abu Dhabi National Oil Company (ADNOC) and Indian Strategic Petroleum Reserves Ltd (ISPRL), an Indian government-owned company mandated to store crude oil for strategic needs, to locate 5.86 million barrels of ADNOC crude oil at the Karnataka facility in the Indian city of Mangalore.

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