UAE\'s ADNOC signs new long-term agreement for base oil sales into China

UAE's ADNOC signs new long-term agreement for base oil sales into China

ADNOC Refining, an ADNOC subsidiary, produces up to 500,000 metric tonnes per year of the Group III base oil, at its Ruwais refining and petrochemicals complexREUTERS  |  April 03, 2019, 14:14 IST
UAE's ADNOC signs new long-term agreement for base oil sales into China DUBAI: Abu Dhabi National Oil Company (ADNOC) concluded a significant long-term sales agreement with the Xiamen Sinolook Oil, of China, for its high-quality base oil, ADbase, the company said in a statement on Tuesday.

ADNOC Refining, an ADNOC subsidiary, produces up to 500,000 metric tonnes per year of the Group III base oil, at its Ruwais refining and petrochemicals complex.

Murban, Abu Dhabi's light, high paraffinic crude, is used as feedstock for ADNOC's Base Oil plant in Ruwais.

Xiamen Sinolook Oil is one of China's biggest importers and distributors of base oils, with a 5 percent share of the 7.17 million tonnes per annum market.