Abu Dhabi: Abu Dhabi National Oil Company (Adnoc) on Wednesday signed two new agreements, with Idemitsu Kosan Company of Japan and SCG Chemicals of Thailand, for the sale of up to 1.5 million tons of Naphtha per year as the company eyes market share in Asian countries.
The new deals follow a similar agreement signed by Adnoc with Malaysia’s Lotte Chemical Titan one of the largest polyolefin producers in South East Asia, for the sale of up to 1 million tons per year of naphtha.
Adnoc produces more than 12.5 million tons per annum of naphtha, which can be used as a feedstock to produce a variety of petrochemical based products, including plastics.