Adnoc advances crude flexibility project: Correction

Corrects value of the project in paragraph 1

Abu Dhabi state-owned Adnoc has broken ground on its 11bn UAE dirham ($3bn) crude flexibility project at the 817,000 b/d Ruwais refining complex.

The project will enable the 417,000 b/d Ruwais 2 refinery complex to process more sour crude, allowing for increased exports of higher-value light crudes. Specifically, Adnoc expects to process more of its 33.9°API Upper Zakum and export more 40.5°API Murban.

The planned modifications will add an atmospheric residue de-sulphurisation unit, to enable the upgrading of medium to heavy oils and residues to more valuable and environmentally friendly transportation fuels, and to partially convert the residues to produce low-sulphur fuel oil (LSFO) and hydrotreated feedstocks. The project is scheduled for completion by the end of 2022.

To further capitalize on its sour crude processing capacity, Adnoc is converting one of its single-point mooring (SPM) export facilities to an import facility. This will allow it to import around 600,000 b/d of mostly sour crude by 2024.

This is all part of Adnoc's $45bn plan to create the world's largest integrated refining and petrochemicals complex at Ruwais. This includes a plan to expand the country's overall refining capacity by around 65pc, or 600,000 b/d, with the addition of a third refinery by 2025.

Abu Dhabi has 922,000 b/d of refining capacity, comprising Ruwais and the 85,000 b/d Abu Dhabi refinery. Ruwais 2's 127,000 b/d residual fluid catalytic cracker (RFCC) will resume commercial production this month or next month. It has been closed since a fire in June 2018.