Oil and gas trading companies in dubai
First, the UAE is pressing ahead with plans to expand oil and gas production capacity, but has extended the time frame for oil development while giving higher priority to gas projects. Second, government and industry have joined forces in initiatives to develop new oil markets.
Third, several emirates have launched programmes to bolster energy efficiency and encourage energy conservation, reflecting the growing public awareness of the need to reduce carbon emissions.
Some of these directly involve the oil and gas sector. Fourth, the nation is moving ahead with low carbon and clean energy developments, with close co-operation from oil and gas producers. Fifth, it is fostering international energy partnerships and participating in more overseas energy projects.
That is enough oil to last for more than a century and sufficient gas for more than year of supply at recent production rates. The Shah reservoir contains so-called ultra-sour gas, consisting of about 30 per cent hydrogen sulphide. The deadly gas could endanger humans and livestock if allowed to leak into the atmosphere and could damage the environment. Gas fields with similar hydrogen sulphide concentrations have been developed elsewhere in the world, but not often.
ConocoPhillips, however, is a world leader in the safe exploitation of such reservoirs and will help ADNOC develop similar expertise.
As a spin-off from the Shah project, Abu Dhabi will become the leading regional exporter of sulphur, which is used to make fertilisers, rubber and sulphuric acid. They include four more projects to expand gas production and six aimed at oil development.
Two more projects are planned to exploit sour gas fields, one onshore and one offshore. In total, Adco plans to increase oil production capacity by , bpd to 1. Offshore, the Abu Dhabi Marine Operations Company Adma-Opco is moving ahead with a ten-year plan to increase output from two major Gulf oil fields, Umm Shaif and Lower Zakum, to 1 million bpd by from about , bpd in The unit also plans to develop three smaller fields that are expected to yield another 76, bpd of crude oil.
The Zakum Development Company Zadco , another ADNOC offshore oil subsidiary, is proceeding with a project to increase output from the Upper Zakum field by about 50 per cent to , bpd following the completion of a reservoir study. In November of that year, it awarded a contract for dredging work required to build four artificial islands to support drilling rigs for the project.
The decision to proceed with the project during a sustained downturn in refining margins is part of a strategic move to capture a greater share of the global market for refined oil products when the economy recovers. By it had dropped to 80, bpd. As a result, the second largest UAE emirate has swung from being a net oil exporter to importing most of its petroleum requirements.
While it continues to pump gas from offshore fields, Dubai also consumes more of that fuel than it produces, and is increasingly dependent on imports to make up the difference. The emirate already purchases several hundred cubic feet per day of gas from Dolphin Energy, an Abu Dhabi company that imports gas by pipeline from Qatar. In , after completing the construction of a receiving terminal, Dubai will start importing , tonnes per year of LNG under a contract with Qatar Petroleum and Shell.
Dubai remains deeply involved in the petroleum sector, however, as a hub for oil trading and energy services. A condensates refinery at Jebel Ali, processing liquids from gas production, is being expanded to , bpd of capacity from 48, bpd.
Both process feedstock imported from Qatar, Abu Dhabi and Iran. The Dubai Mercantile Exchange DME , launched in , was the first commodities exchange to offer a futures contract for a benchmark Middle Eastern crude.
A number of international oil companies maintain regional offices in Dubai, as do major companies providing services to the energy sector. In , the US oil field services company Halliburton established its regional headquarters in Dubai. The following year, Mubadala Development, the Abu Dhabi government-owned industrial conglomerate, and the British energy services firm Petrofac set up a joint venture headquartered in Dubai.
Crescent Petroleum, a private Sharjah company, produced oil from the Mubarak field in the Gulf, near Abu Musa Island until the end of , when it determined that the field had reached the end of its productive life and returned the concession to the Government of Sharjah.
Crescent and Dana Gas, a Sharjah affiliate, are also developing the Zora gas field, located in territorial waters shared by Sharjah and Ajman. Production of 50 million to 60 million scfd is expected to start in Dana and Emarat, a Dubai marketer of petroleum products, have jointly developed a common-user gas pipeline to serve Sharjah customers. The companies are drilling their first well at Al Madam. Gas production from the Atlantis field offshore Umm al-Qaiwan began in In June , the company reported that the Bukha field in Omani territorial waters off the Musandam peninsula had been returned to production after being shut down for several months.
As a result, it said, the Bukha and nearby West Bukha fields were producing at record combined levels of 10, barrels per day of oil and 40 million scfd of gas. The port of Fujairah, on the Arabian Sea, handles about 1 million tonnes per month of marine transportation fuel and other oil products.
Sometimes the identity of ADNOC or one of its subsidiaries is used fraudulently in business proposals, fake recruitment campaigns and false job offers. We work together with one common vision: Through partnership, innovation and a relentless focus on high performance and efficiency, we maximize the value of energy resources. We share a proud history, and together have contributed to the UAE's economic and social development for generations.
We work together, as one integrated team, to achieve our Strategy: We produce around 3 million barrels of oil per day, and over 9. We are a trusted and reliable global energy provider. Our oil, gas, refined and petrochemical products are sold on six continents.
We take a proactive approach towards environmental protection, constantly assessing and actively managing all environmental risks and impacts. We place great emphasis on the proactive identification and mitigation of all health and safety risks, and manage all incidents and crises through an effective emergency response system. Join us at the ADNOC Downstream Investment Forum, where we will present the roadmap to our new downstream strategy and unveil signature projects and significant co-investment opportunities for partners.
We produce around 3 million barrels of oil and over 9. ADNOC refines and processes crude oil, raw gas and condensates, and also produces a wide range of Our oil, gas, refined and petrochemical products are marketed and sold by our Marketing, Sales and Supplier Code of Business Ethics.