With the acquisition of eight VLCCs announced in 2021, ADNOC’s crude transportation capacity has now increase to 16mn barrels
ADNOC
ADNOC Logistics and Services acquires two additional VLCCs
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DNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), today announced the acquisition of two additional Very Large Crude Carriers (VLCCs), bringing the total number of VLCCs added to its fleet in 2021 to eight. The VLCC fleet expansion plays a significant role in supporting ICE Murban Futures, which is
expected to boost trading of the UAE’s flagship Murban crude oil, enabling it to reach new customers and markets around the globe. The growth of ADNOC L&S’s VLCC fleet supports ADNOC Group’s commitment to increase its crude oil production capacity by 25% to 5 million barrels per day (mmbpd) by 2030. The new acquisitions include a new-build VLCC, equipped with dual-fuel technology, which is expected to be delivered in Q1-
2023, and an existing vessel that is scheduled to join the fleet in Q2-2021. These latest acquisitions mean that ADNOC L&S has now added a total crude oil cargo capacity of 16 million barrels this year. “The acquisition of these VLCCs further consolidates our highly competitive offering, which covers the full spectrum of the oil and gas value chain,” asserted Captain Abdulkareem Al Masabi, CEO, ADNOC Logistics and Services.
ADNOC to explore potential of Hydrogen market with India
Dr. Al Jaber notes Hydrogen is in its infancy, but could be a game-changer Aligning supply and demand key to developing the Hydrogen economy of the future, the Abu Dhabi National Oil Company (ADNOC) is working with its partners to identify viable market opportunities. ADNOC is keen to explore the Hydrogen market with India’s public and private sectors to support India’s growing demand for energy and need for cleaner fuels according to Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO, ADNOC. Speaking during a high-level ministerial session at a virtual Hydrogen Roundtable organized by The Energy Forum (TEF) in collaboration with the Federation of Indian Petroleum Industry (FIPI) and India’s Ministry of Petroleum and Natural Gas (MoPNG), Dr. Al Jaber reinforced the strong economic ties between the United Arab Emirates (UAE) and India.
50 MAY 2021
Growing demand “As India’s demand for energy grows, we stand ready to help meet that demand by making the full portfolio of our products available to the Indian market,” observed Dr. Al Jaber following remarks by Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas. ADNOC currently produces about 300,000 tons of Hydrogen a year as part of its current industrial processes. He expressed optimism that alongside the company’s existing infrastructure and commercial-scale Carbon Capture Utilization Storage (CCUS) capabilities, it can become a major player in the developing blue hydrogen market. ADNOC is also exploring the potential of green Hydrogen through the Abu Dhabi Hydrogen Alliance which was recently established by ADNOC, Mubadala Investment Company (Mubadala) and ADQ, Dr. Al Jaber added, as the company prioritizes blue Hydrogen.
