UAE's ADNOC to invest $50bln with partners in downstream expansion: statement

ADNOC plans to expand refining and petrochemical operations at its Ruwais complex

  
ADNC distribution logo on station.

ADNC distribution logo on station.

ADNOC/Handout via Thomson Reuters Zawya

ABU DHABI: Abu Dhabi National Oil Co. said on Sunday it plans to invest 165 billion dirhams along with its partners over five years to expand its downstream operations.

ADNOC plans to expand refining and petrochemical operations at its Ruwais complex by adding a third refinery to expand capacity by 600,000 bpd by 2025, it said in a statement.

It will also make overseas investments to secure greater access to growth markets, it said.

(Reporting by Rania El Gamal, Writing by Katie Paul; editing by Simon Cameron-Moore) ((Katie.Paul@thomsonreuters.com;))


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