On February 20, Abu Dhabi National Oil Company (ADNOC) announced that its subsidiary ADNOC Logistics & Services (ADNOC L&S) and Wanhua Chemical Group Co., Ltd. signed a memorandum of understanding to establish a joint venture, which will own and operate liquefied petroleum gas (LPG) carriers. The move will boost ADNOC’s daily oil production capacity to 400 million barrels by the end of 2019 and to 500 million barrels in 2020-2030.       

ADNOC L&S will play a key role in supporting the implementation of the ADNOC 2030 “Smart Growth Strategy”, sources from ADNOC said.