ADNOC recently announced that it plans to make significant
investments in new projects to grow its petrochemical business over the next
five years, in line with part of its “2030 strategy.”
These new projects will have a gas and aromatics production
focus. The company plans to expand more into Asia, where the petrochemical
market is expected to double by 2030.
“We are the proud owners of world scale modern assets,
located centrally to serve growing markets,” Abdulaziz Alhajri,
ADNOC Refining & Petrochemicals director, said. “We are creating synergies
by integrating our refining and petrochemicals businesses across the value
chain.”
Alhajri believes these practices will help the company meet
the needs of an expanding market for refined petrochemical products and help
the company increase profit. He stated that ADNOC’s ultimate goal is to
unlock the full potential of its assets.
“So, we are pursuing profitable
and integrated growth in refining and petrochemicals,”
Alhajri said. “We are also diversifying our
product portfolio to make us more resilient to economic cycles and crude oil
price fluctuations.”
