iPhone | iPad
Android
Huawei
Streamlined supply chains help NATPET improve production continuity and cost savings and enhance shipment visibility and control
KT APPDOWNLOAD
ADNOC to Complete Ruwais Expansion by 2014
DUBAI - Abu Dhabi National Oil Company (ADNOC) will complete a project to double the capacity of the United Arab Emirates’ largest oil refinery by 2014, a year later than originally anticipated, a source familiar with the project said on Monday.
The decision to go ahead with the massive project comes at a time when oil prices have collapsed from almost $150 a barrel last July to around $38 a barrel, cutting earnings for Opec producers by $356 billion in six months.
The expansion, which should be completed by the first quarter of 2014, will add around 400,000 barrels per day to the 400,000 bpd capacity at the Ruwais plant, the source said.
Gasoline production following the Ruwais capacity expansion, will increase by an additional 62,000-63,000 bpd to an overall production capability of around 123,000 bpd. “The earlier estimated target date was during the study phase, it was just an estimate, now the project is moving forward and we have a better understanding of how long the project will take,” the source said.
The basic engineering phase of the project, which was awarded in January 2008, is expected to end sometime in the
second quarter of
this year.
More news from
Globally, spot gold was trading at $2,662.59 per ounce, down by 0.38 per cent
Israel's foreign minister said there would be no ceasefire in the north
Biz2X is the technology platform offered by Biz2Credit, one of the largest SME finance companies in the US which processes billions in business financing annually
Initiative will help provide free healthcare services to more than 3,000 patients monthly across the UAE
Currently, expats make up 2.61 million, or 5 per cent, of the country's total population, and its government predicts the number may cross 3 million within five years
The brand's success is driven by its dedication to maintaining the highest standards of purity and efficacy in its products