Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) has announced the signing of two new agreements with Japan’s Idemitsu Kosan and Thailand’s SCG Chemicals, to supply up to 1.5 million tonnes (MTs) of Naphtha annually to both companies.
ADNOC’s Marketing, Sales and Trading Directorate has closed the deals during its visits to Japan, South Korea, and Thailand, according to Emirates News Agency (WAM).
"As part of ADNOC’s 2030 growth strategy, we are prioritising the fast-growing markets of Asia, where the demand for refined and petrochemical products is accelerating,” ADNOC director of marketing, sales, and trading Abdulla Salem Al Dhaheri said.
ADNOC produces over 12.5 MTs of naphtha per annum, which can be used as a feedstock to produce a range of petrochemical-based products including plastics.
“These latest long-term deals, yet again, demonstrate how ADNOC is committed to ensuring reliable and secure access to important refined and petrochemical products, as part of mutually beneficial partnerships that create sustainable value,” Al Dhaheri commented.
The UAE-based energy giant did not release the deal’s value.
