$3.1 billion upgrade of Ruwais refinery will boost Adnoc’s exports of Murban crude
Abu Dhabi, which holds most of the oil reserves in the U.A.E., plans to boost exports of its highest quality crude into the next decade following a $3.1 billion upgrade of its Ruwais refinery.
Flagship Murban crude fetches the highest price of the emirate’s three grades because it’s easier to refine and yields greater amounts of premium fuels like gasoline. Abu Dhabi National Oil Co. plans to upgrade Ruwais on the United Arab Emirates coast, allowing it to switch to cheaper lower-quality alternatives from offshore fields, the company said in a statement. The refinery currently processes only Murban crude, equivalent to about half of total production of the grade.
This story is from the 16 February, 2018 edition of Bloomberg Businessweek Middle East.
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This story is from the 16 February, 2018 edition of Bloomberg Businessweek Middle East.
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