Media ININ Economy We Trust
Media In – Abu Dhabi, March 28, 2018
Abu Dhabi National Oil Company (ADNOC) has signed two new agreements with Japan’s Idemitsu Kosan Ltd. and SCG Thai, under which ADNOC will sell 1.5 million tons of Naphtha to the two companies over the next three years.
The announcement follows the signing of an agreement with Lotte Chemical Titan of Malaysia – one of the largest polypropylene producers in Southeast Asia – under which ADNOC will sell one million tons of Naphtha to the Malaysian company over the next three years.
“In line with its 2030 strategy for smart growth, ADNOC is focusing on expanding its investment in refining and petrochemicals and is giving the Asian market a fast growing market as the demand for petroleum products and petrochemical products is growing,” said Abdulla Salem Al Dhahiri, Director of Marketing and Trade, ADNOC.
“Our recent agreements provide concrete evidence of ADNOC’s commitment to providing safe and reliable supplies of petroleum products and petrochemical products as part of its program of initiatives aimed at building mutually beneficial partnerships that achieve sustainable value.”
ADNOC produces more than 12.5 million tons per year of Naphtha which is used as a feedstock for the production of a number of petrochemical products, including plastics. Naphtha is converted into olefins and then converted to polyolefins. Finished products made from naphtha derivatives In a number of daily applications ranging from components and plastic parts used in the manufacture of cars, durable goods, detergents, CDs, plastic milk packaging, food packaging materials
