Abu Dhabi plans to proceed with USD3 billion refinery upgrade
Abu Dhabi is seeking bids for a USD3 billion upgrade of its largest refinery potentially allowing the nation to export more of its higher quality crude grade. The project is headed by state-owned Abu Dhabi National Oil Company and includes the construction of a pipeline to the 817,000 barrel-a-day Ruwais refinery from its offshore Upper Zakum field in the Persian Gulf. This would allow increased exports of Murban crude, the blend from its onshore fields which trades at a premium to Upper Zakum. (Bloomberg)
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