ADNOC Awards Samsung Two Contracts to Boost Output of Ruwais Refinery

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan. Reuters
Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan. Reuters
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ADNOC Awards Samsung Two Contracts to Boost Output of Ruwais Refinery

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan. Reuters
Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan. Reuters

Abu Dhabi National Oil Company (ADNOC) said Monday it has awarded two contracts worth 12.8 billion dirhams ($3.5 billion) to South Korea's Samsung Engineering to boost output at the largest refinery in the United Arab Emirates.

The contracts were signed by ADNOC Refining, a wholly owned subsidiary of ADNOC, and Samsung Engineering.

The first engineering, procurement and construction (EPC) contract was awarded for a $3.1 billion project on flexibility in crude oil processing in Ruwais refinery.

The crude flexibility project is scheduled to be completed by the end of 2022. It will enable the Ruwais Refinery-West plant to process up to 420,000 barrels per day of Upper Zakum crude, or similar oil grades, freeing up more exports of ADNOC’s Murban crude, which is sold at a premium.

While the second EPC contract is for a 1.73 billion dirhams ($473 million) project to recover power and water, also at the Ruwais oil refinery.

This project is scheduled to be completed by the end of 2023. It will generate an additional 230 megawatts of electricity for sale and 62,400 cubic meters of water daily by capturing waste heat and upgrading four gas turbines with closed-cycle power generation technology.

The signing of the contracts coincided with the visit of South Korea's President Moon Jae-in to the UAE.

ADNOC’s Downstream Director Abdulaziz al-Hajri and CEO of Samsung Engineering Choi Sung-An signed the deals in the presence of Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Paik Ungyu, Minister of Trade, Industry and Energy, Republic of Korea.

"ADNOC has a long and successful history of working with Korean companies as partners in our concession areas, as contractors for our major projects and as a customer of our crude oil and refined products,” Al Jaber said.

“The award of two major Engineering, Procurement and Construction [EPC] contracts reinforces the strong business relationship that exists between the UAE and Korea," Al Jaber added.

"As ADNOC continues to deliver on its 2030 smart growth strategy, a number of new and exciting opportunities exist across our value chain, particularly in the downstream, which offer the potential to deepen and develop the longstanding relationship between ADNOC and its Korean counterparts," he further noted.

The project will significantly contribute to reducing the environmental impact of ADNOC's refining and power generation processes as well as improving energy efficiency.

The two projects represent an important development within ADNOC's efforts to enhance value in the field of gas and petrochemical refining.



Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
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Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)

The United States may not reach a negotiated trade deal with Canada, US President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally.

Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation."

The two nations are trying to work out a trade deal before August 1, when Washington is threatening to impose 35% tariffs on all Canadian goods not covered by the US-Mexico-Canada trade agreement.

Prime Minister Mark Carney's office did not immediately respond to a request for comment. Canadian officials have increasingly made clear that the chances of a deal by August 1 are unlikely.

Dominic LeBlanc, the federal cabinet minister in charge of US-Canada trade, told reporters in Washington on Thursday after two days of talks that "we've made progress, but we have a lot of work in front of us."

LeBlanc said Canada would take the time necessary to get the best deal possible.

Carney indicated last week that Canada might not be able to persuade the United States to lift all its sanctions.