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UAE's ADNOC mulls downstream opportunities abroad with Aramco - sources

Reuters  |  DUBAI/NEW DELHI 

By Rania El Gamal and Nidhi VermaDUBAI/NEW DELHI (Reuters) - Abu Dhabi National Oil Co (ADNOC) is in talks with several partners, including Saudi Aramco, for possible downstream joint ventures abroad, particularly in Asia, industry sources with knowledge of the matter told Reuters.The Abu Dhabi state energy company wants to increase its crude refining capacity by 60 percent and boost petrochemical production. It plans to spend more than 400 billion dirhams ($109 billion) in the next five years, which will include boosting gas output and investing in international downstream activities, the ...

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First Published: Wed, April 11 2018. 19:30 IST