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Abu Dhabi / WAM
His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the Adnoc Downstream Investment Forum in Abu Dhabi on Sunday. The event brought together more than 40 leading global energy, petrochemical and other industry CEOs and 800 senior business leaders as ADNOC outlined its new downstream strategy and plans to become a leading global downstream player.
During the visit to the Forum, Sheikh Mansour bin Zayed was briefed on ADNOC’s plans for the expansion of the Ruwais Industrial Complex which will be the engine of ADNOC’s new downstream strategy. His Highness launched an interactive model that unveiled the expansion plans in Ruwais, which will transform it into the world’s largest fully integrated refining and petrochemicals complex, Abu Dhabi and the UAE’s economic development, and supporting the accelerated growth of Ruwais city.
Sheikh Mansour later met a number of the global CEO’s and other industry leaders attending the Forum taking place at the Emirates Palace hotel.
The UAE Deputy Prime Minister and Minister of Presidential Affairs praised the UAE leadership’s support for ADNOC’s new downstream strategy and In-Country Value (ICV), initiative as key components of the nation’s economic development plans and efforts to drive growth in the private sector, and underlined its importance in further diversifying the economy, creating sustainable and healthy growth in the UAE, and ensuring future prosperity and high skilled employment.
Welcoming delegates to the Downstream Investment Forum, Sheikh Mansour underlined the importance of Abu Dhabi and the UAE as a global energy and petrochemicals hub. He commended Adnoc for bringing together such a diverse group of leaders from the energy, industrial, banking and finance industries at a time when the changing energy landscape is creating new growth and investment
opportunities.
UAE vision sustains nation’s global downstream goals, says Al Jaber
Abu Dhabi / WAM
Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO, said that the UAE leadership’s vision has continued Abu Dhabi’s half century legacy as a reliable, trusted, stable partner of choice to expand existing relationships and forge new strategic partnerships in the oil industry.
He went on to say that over the course of the Forum, “we will share our detailed smart growth strategy to fulfil the vision of our leadership by becoming a leading global downstream player. Fundamentally, our strategy will create a fully integrated downstream ecosystem capturing value at every step along the way from commodity to consumer.”
Dr. Al Jaber said, “We will collaborate with partners to build on and expand our world class refining assets, increasing their capacity to at least 1.5 million barrels per day. We will also build one of the world’s largest mixed feed crackers, with a capacity of 1.8 million tons of Ethylene and an aromatics unit able to process over 1.6 million tons annually,” he added.
