THE UNITED Arab Emirates is set to become self sufficient in gasoline by the end of 2014, when its refining capacity will be boosted by the Ruwais plant expansion, according to an official from the Abu Dhabi National Oil Company (ADNOC).
Were trying to increase our capacity to meet domestic demand. We used to be balanced in gasoline, but due to rising demand that changed again, the official said.
Heavy gasoline subsidies have propelled annual demand to more than five million tonnes, according to analyst and ADNOC estimates. The UAE produces around 2.7 million tonnes and relies on imports for the rest, the official added.
ADNOC produces the bulk of the UAEs crude oil and refined oil products. It has also taken over petrol stations in the northern emirates, where there were oil shortages in 2011 when the Dubai government-owned Emirates National Oil Company (ENOC), squeezed by a heavy subsidy bill, stopped supplying those emirates.
