Staff are seen at the Panorama Digital Command Centre at the ADNOC headquarters in Abu Dhabi, UAE May 12, 2018. REUTERS/Satish Kumar
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Abu Dhabi National Oil Co. plans invest $45 billion in order to double its refining capacity and triple petrochemicals output potential by 2025, as the state energy firm focuses more on downstream expansion to be on par with Big Oil and capture new growth markets, ADNOC's chief executive said.The company is also looking at different options for its ADNOC Refining subsidiary, including bringing on strategic partners but an initial public offering for the unit is not on the "radar screen at this point in time," Jaber said.ADNOC produces about 3 million barrels of oil per day and its refining capacity is 922,000 bpd.Saturday, India's oil minister told Reuters that there was a consensus between Aramco, ADNOC and Indian companies to firm a joint venture for India's Ratnagiri oil refinery.
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