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UAE and Indonesia strengthen bilateral ties
The United Arab Emirates’s (UAE) Abu Dhabi National Oil Company (ADNOC) and Indonesia’s Pertamina and Chandra Asri have signed a memorandum of understanding (MoU) to explore the potential development of a crude to petrochemicals complex in Balongan, Indonesia.
They have also signed a sales agreement under which ADNOC will supply Pertamina with up to 528,000mn tonnes of LPG by the end of 2020. In addition, Chandra Asri and ADNOC have signed an MoU to explore the potential supply of naphtha to Chandra Asri that would be utilised as a feedstock for their current and potential new cracker complex in Indonesia.
ADNOC has embarked on a significant expansion of its downstream business as part of its 2030 smart growth strategy with an intention to secure markets for its core hydrocarbon products and capture greater margins throughout the value chain. As well as developing and expanding its domestic downstream operations, ADNOC is also exploring a number of targeted international investment opportunities to support its refining and petrochemicals growth ambitions.
News Item details
Journal title: Petroleum Review
Subjects: Refining, Liquefied petroleum gas, Petrochemicals
