The Abu Dhabi National Oil Company (ADNOC) said it would sell up to 1.5mn tonnes naphtha per year to Japans Idemitsu Kosan Co and Thailands SCG Chemicals in an effort to grow its Asian markets
"As part of ADNOC’s 2030 growth strategy, we are prioritizing the fast-growing markets of Asia, where the demand for refined and petrochemical products is accelerating," Abdulla Salem Al Dhaheri, director, marketing, sales and trading at ADNOC, said.
This comes on the heels of the company's three-year deal in January to sell 1mn tonnes of naphtha per year to Malaysia’s Lotte Chemical Titan.
The company said it is looking to grow its petrochemical production three-fold to 14.4mn tonnes per year by 2025 to cash in on the growing demand for petrochemical products in Asian countries.
ADNOC said it will host a Downstream Investment Forum in Abu Dhabi on 13 and 14 May to give more details on its downstream strategy.
