The process is still going on." The Shaikh Khalifa Point Refinery is a joint venture between IPIC, the international investment wing of Abu Dhabi National Oil Company (ADNCO
), and Pak-Arab Refinery Company (Parco), a joint venture between Pakistan and Abu Dhabi.
They will deliver 1.5 billion cubic feet per day (bcfd) once completed in the next five years but Adnco
may still struggle to satisfy demand.
had sealed its April 2009-March 2010 pentane and splitter naphtha grades at $23.50-$26.00 a tonne premiums to Middle East quotes on a free-on-board (FOB) basis, at least five times higher that what it fetched for its January-December 2009 supplies, concluded late last year.