Emirates Global Aluminium PJSC (EGA) and the Abu Dhabi National Oil Company (ADNOC) announced yesterday the execution of a long-term agreement for ADNOC to provide to EGA calcined petroleum coke produced by the firm’s new Carbon Black and Delayed Coker (CBDC) in western Abu Dhabi.
With this new agreement, EGA will have the advantage of sourcing a vital material necessary for aluminium smelting from within Abu Dhabi, eliminating logistical costs and reliance on foreign importers. Per EGA, the agreement will have ADNOC providing up to 40 percent of the needed calcined petroleum coke to its operations at Al Taweelah.
“For many decades, ADNOC has been a catalyst for growth, development and diversification in the UAE,” noted Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO. “This agreement contributes to further increasing the local economic benefit generated from the UAE’s natural resources and deepens ties and integration between two of the UAE’s most important industries. It also underlines ADNOC’s commitment to driving economic growth and diversification in the UAE.”
“This partnership will enable ADNOC to maximize the value extracted from every barrel of oil that is produced and processed. ADNOC Refining’s Carbon Black and Delayed Coker complex is central to this strategy. It processes the heavy residue material left over from the refining of crude oil and converts it into more valuable refined products.”
Khaldoon Khalifa Al Mubarak, Chairman of EGA and Managing Director and Group CEO of the Mubadala Investment Company, noted the importance of the deal to the UAE’s economy.
“Emirates Global Aluminium is one of the UAE’s most critical industrial assets and a world leader in the global aluminium sector. Strengthening local supply chains that connect two of the nation’s most substantial energy and industrial exporters demonstrates the maturity of our economic base.”
Based in Abu Dhabi, United Arab Emirates, Emirates Global Aluminium is an aluminium conglomerate created by the merger between Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL) in 2013. EGA had an estimated enterprise value of US$15 billion at the time the merger took place. The firm is owned equally by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai. Emirates Global Aluminium holds interests in bauxite/alumina and primary aluminium smelting.