22FEB2019 - NEWS - Abu Dhabi National Oil Company plans to add more than 25 vessels to its shipping fleet over the next five years

Abu Dhabi National Oil Company (ADNOC) plans to add more than 25 vessels to its shipping fleet over the next five years. The fleet expansion plan will also include the acquisition of ADNOC’s first crude oil tankers. ADNOC believes its ambitious growth plan will enable the company to sell more of its commodities on a delivered basis, increasing its global reach, unlocking new market opportunities and stretching the value of its supply chain. According to ADNOC, it will increase its oil production capacity of 4m barrels per day (mmbpd) by the end of 2020 to 5 mmbpd by 2030. The company also intends to triple production of petrochemicals to 14.4m tons per annum and double its crude refining capacity by 2025.

Published by Editor - www.Livebunkers.com at 22-Feb-2019 06:36:40 [UTC] , contact editor at editor@livebunkers.com