The Abu Dhabi National Oil Company (ADNOC) has signed two new agreements:
Idemitsu Kosan Co. Ltd. of Japan
SCG Chemical of Thailand
First of all, the deal is for an amount of up to 1.5 million tons of Naphtha/year between SCG chemical and Idemitsu.
In addition, Abdulla Salem Al Dhaheri the Director, Marketing, Sales and Trading at ADNOC had his opinions. He said that as part of ADNOC’s 2030 growth strategy, they are prioritizing the fast-growing markets of Asia. Therefore, here the demand for refined and petrochemical products is accelerating. ADNOC shows its commitment to ensuring reliable and secure access to important refined and petrochemical products by these latest long-term deals. This acts as a part of mutually beneficial partnerships that create sustainable value.”
ADNOC’s Marketing, Sales and Trading Directorate visited Japan, South Korea, and Thailand. The sales agreements hence concluded during these visits.
In addition, ADNOC produces more than 12.5 million tons per annum of naphtha. So, a variety of petrochemical-based products like plastics can be produced using this.