Daily Management Review

Adnoc to sell base oil in the U.S. with GM’s approval


07/16/2018


Adnoc is on track to broaden its company’s reach globally.



The Abu Dhabi based oil firm, Adnoc has confirmed that General Motors, the U.S. car producer has granted the former to use one “high-performance base oil” in the market of the United States. According to the statement of the Marketing, Sales and Trading Director of Adnoc, Abdulla Salem Al Dhaheri:
“We have initiated a broad licensing programme for our high-quality base oil, ADbase, and have already secured a number of important formulation approvals”.
 
Moreover, he also added that:
“This supports our goal of broadening and expanding our client base, while also achieving the best commercial value for our products”.
 
Thanks to the approval of the formulation, the “ADbase product” will be able to make its presences felt within the automotive industry of the United States as a “high-performance engine lubricant”.
 
In a strategy to “grow downstream”, Adnoc is looking to widen its products’ market share on a global platform, as a result, the company inked an agreement in the month of February earlier, whereby the company opened up its European markets’ door for selling its base oil.
 
According to the National:
“The agreement follows the start-up of Adnoc's 500,000-tonne capacity base oil plant in Ruwais last year. Arabian Gulf state oil companies like Adnoc and Saudi Aramco have increasingly fine-tuned their strategy to sell more products to create alternative revenue streams”.
Adnoc, short form for “Abu Dhabi National Oil Company”, is owned by the state of UAE and is the “biggest company” of the UAE which produces “3.1 million barrels” on a daily basis. In terms of production and reserves, ADNOC, with its “16 subsidiary companies in upstream, midstream, and downstream stages of production”, is counted among the “largest energy companies” in the world.
 
The energy company specialises both on offshore and onshore gas fields and has “two oil refineries”, namely “Ruwais and Umm Al Nar”, under its operation. Moreover, the company, besides supplying for “local electricity and water utilities, to other domestic industries including petrochemicals plants, and for re-injection into reservoirs” also “exports natural gas in the form of liquefied natural gas”.
 
References:
thenational.ae, en.wikipedia.org







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