The Abu Dhabi National Oil Company (ADNOC) has inked a long-term sales agreement with China’s Xiamen Sinolook Oil Company for its base oil, ADbase, Pipeline Oil and Gas Magazine reported.
“The signing of this important sales agreement, with a major base oil consumer and distributor in a large and growing market, marks another significant milestone for ADbase,” Ahmad Bin Thalith, Acting Senior Vice President of Refined Products Sales, in ADNOC’s Marketing, Supply and Trading Directorate, said.
The agreement supports ADNOC’s plan to enhance its downstream sector and petrochemical operations through its subsidiary, ADNOC Refining, which produces around 500,000 metric tonnes per year of Group III base oil at its Ruwais refining and petrochemicals complex. Additionally, the company produces around 100,000 metric tonnes per year of Group II base oil.
“This agreement once again underlines ADNOC’s commitment to deliver the highest-quality products and services, while achieving the best commercial value through innovative and competitive marketing strategies,” Bin Thalith added.