UAE launches $45 billion investment to boost refineries

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Abu Dhabi National Oil Co. on Sunday announced a $45-billion ($38-billion-euro) investment to modify an existing facility into one of the world's largest integrated refining and petrochemicals plants.

The project aims to boost ADNOC's refining capacity by 65 percent to 1.5 million barrels per day by 2025, the state-owned firm's CEO Sultan al-Jaber told a downstream investment forum.

The work will upgrade the refining and petrochemicals plant at Ruwais in partnership with inte ..