UAE's ADNOC signs agreement for base oil sales into China

02/04/2019 Argaam

 

Abu Dhabi National Oil Company (ADNOC) concluded a significant long-term sales agreement with China's Xiamen Sinolook Oil Co. for its high-quality base oil, ADbase, the oil major said in a statement on Tuesday.

 

ADNOC Refining, an ADNOC subsidiary, produces up to 500,000 metric tons 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 Co. Ltd. is one of China’s biggest importers and distributors of base oils, with a 5 percent share of the 7.17 million tons per annum market.  

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