MOSCOW (MRC) -- The Abu Dhabi National Oil Company has activated business continuity plans to ensure continued supply of products to its local and international customers following an incident on its Mussafah fuel depot, said the company.
The company in an earlier statement that the incident at the fuel depot occurred at around 10:000 hours (06:00 GMT) on 17 January. The incident resulted in the outbreak of a fire and three workers were killed as a result, it said.
"We are working closely with the relevant authorities to determine the exact cause and a detailed investigation has commenced," ADNOC said. Yemen's Houthi rebels have claimed responsibility for the attack, which involved ballistic missiles and deployed armed drones, according to local media reports. The attack also resulted in a fire at Abu Dhabi’s main international airport, they said.
As per MRC, the Abu Dhabi National Oil Company (ADNOC) has signed of a strategic partnership with Borealis AG that confirms a USD6.2 B (AED22 B) investment agreement between the companies to build the fourth Borouge facility - Borouge 4 - at the polyolefin manufacturing complex in Ruwais, United Arab Emirates (UAE), which will produce 1.4 MM tons of polyethylene (PE) per year.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
MRC