UAE – Mubasher: The Abu Dhabi National Oil Company (ADNOC) has achieved 73% of its crude flexibility project to upgrade refining capabilities in Ruwais, according to a press release on Monday.
The project, valued at $3.5 billion (AED 12.8 billion), aims to increase refining margins and allow for more high-value Murban crude to be available for export.
Expected to be completed by mid-2022, the CFP will enable ADNOC to process up to 420,000 barrels per stream day (bpsd) of heavier grades of crude oil, as part of the 840,000 bpsd refineries in Ruwais.
Upgrading refining capabilities in Ruwais is part of ADNOC Downstream’s 2030 smart growth strategy launched in 2018.
Since 2018, ADNOC has attracted foreign investments to Ruwais and expanded its downstream partnerships across its refining, fertilizer, and pipeline assets to make the Ruwais industrial hub a globally competitive chemicals cluster.
UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, Sultan Ahmed Al Jaber, said: "This investment is another step in our progress to develop Ruwais into a dynamic, global hub for downstream activity, further strengthening ADNOC's role as a key driver of the UAE's long-term industrial growth and economic diversification."
