Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
by Staff Writers
Dubai (AFP) Sept 26, 2013
Dubai said on Thursday that it has signed a memorandum of understanding with China Sonangol to build a crude oil refinery aimed at meeting rising domestic demand.
The refinery, which will be the second in the Gulf emirate, will process end products for "domestic use as well as targeted international markets," the government of Dubai said in a statement.
"The refinery will seek to ensure the sustained supply of refined end products for the emirate's future energy consumption while further augmenting Dubai's export portfolio," it said.
The MoU was signed by Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai Supreme Council of Energy, and Sonangol Group chairman Sam Pai.
The statement did not disclose details of the targeted capacity of the refinery, or the cost.
Although part of the oil-rich UAE federation, Dubai has very little oil reserves left, contrary to neighbouring Abu Dhabi.
Dubai has one gas condensate refinery, in Jebel Ali port, with an output capacity of 120,000 barrels per day.
Powering The World in the 21st Century at Energy-Daily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|