To strengthen logistics, Abu Dhabi National Oil Company (ADNOC)s the shipping and maritime logistics arm ADNOC Logistics & Services (ADNOC L&S), has acquired two additional Very Large Crude Carriers (VLCC).
With this deal bringing the total number of VLCCs added to its fleet in 2021 to eight.
The VLCC fleet expansion plays a significant role in supporting ICE Murban Futures, which is expected to boost trading of the UAEs flagship Murban crude oil, enabling it to reach new customers and markets around the globe.
The growth of ADNOC L&Ss VLCC fleet supports ADNOC Groups commitment to increase its crude oil production capacity by 25% to 5 million barrels per day (mmbpd) by 2030.
The prominent partnership and deals by ADNOC are featured below:
March 2021: To boost production of oil and gas the Abu Dhabi National Oil Company (ADNOC) announced a strategic framework agreement with Petroliam Nasional Berhad (PETRONAS). The collaboration helps to explore opportunities in the exploration, development, and production of conventional and unconventional hydrocarbon resources in the Emirate of Abu Dhabi.
Nov 2020: 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.
July 2020, The global energy leader Abu Dhabi National Oil Company (ADNOC) had 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.
June 2020: The Abu Dhabi National Oil Company (ADNOC) had 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.
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.
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.