The leading petrochemical company the Abu Dhabi National Oil Company (ADNOC) and ADQ, one of the regions largest holding companies announced a new joint venture TAZIZ to drive growth in UAE Chemicals Sector.
TAZIZ aligns with ADNOCs drive to stretch the value from every barrel refined, shipped and sold, also targeting self-sufficiency with domestic production.
In July 2020, ADNOC and ADQ announced their intention to establish the JV with incorporation in Abu Dhabi Global Market.
The JVs potential investment projects selected for a first phase will amount to more than USD 5 billion (AED 18 billion) at the Ruwais Derivatives Park.
In July 2020, The global energy leader Abu Dhabi National Oil Company (ADNOC) has signed a joint venture (JV) agreement with ADQ to create a new investment platform to fund and oversee the development of industrial projects within the planned Ruwais Derivatives Park, in UAE.
In June 2020, The leading energy producer The Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with some of the worlds leading infrastructure investors and operators, to invest in select ADNOC gas pipeline assets valued at $20.7 billion.
In December 2019, The Abu Dhabi National Oil Company (ADNOC) signed, a Framework Agreement with Reliance Industries Limited (RIL) to explore development of an Ethylene Dichloride facility in Ruwais.
In November 2019, The Abu Dhabi National Oil Company (ADNOC) announced, a partnership with Honeywell as it embarks on one of the largest predictive maintenance projects in the oil and gas industry. Under the terms of a 10-year partnership agreement, ADNOC will utilize Honeywells state-of-the-art asset monitoring and predictive analytics platfom to maximize asset efficiency and integrity across ADNOCs upstream and downstream operations.
The Abu Dhabi National Oil Company (ADNOC) is the state-owned leading oil company of the United Arab Emirates, headquartered in Abu Dhabi. The company operate across the entire hydrocarbon value chain, that range from exploration, production, storage, refining and distribution, to the development of a wide-range of petrochemical products.