Page 12 - DMEA Week 04 2021

DMEA NEWS IN BRIEF DMEA

Saudi’s Basic Chemical across the UAE last year showed a ten-fold of domestic demand, helping the North
African country achieve self-sufficiency in
increase in delivery compared to 2019.
Industries Co appoint The expansion also included the opening vehicle fuel supplies.
of 20 new service stations in various parts
temporary CEO of Dubai, including Business Bay, Nad Al
Sheba, Al Barsha and Satwa.
Saudi Arabia’s Basic Chemical Industries “The ambitious rollout has already seen McDermott awarded liquid
Company has announced the appointment ADNOC Distribution more than triple its hydrogen storage study
of a temporary CEO following the Dubai footprint, from six service stations at
resignation of Osama Farouk. the start of 2020 to 26 stations at the end of McDermott International announced that
Abdul Latif Azmy Abdel-Latif Abdel- the year,” the company said. its CB&I Storage Solutions business has
Hadi, a designated member of the board of As for expanding its footprint overseas, been awarded a study by a leading natural
directors, will act as CEO until the company the company said it has executed a definitive gas producer to research opportunities to
appoints a permanent replacement. agreement to acquire 15 service stations in expand current liquid hydrogen storage
The decision was made at a board of Saudi Arabia. capacity limits.
directors meeting on January 27. In March last year, ADNOC Distribution “Industry leaders across the energy
Farouk’s resignation, for personal reasons, proposed a dividend worth 2.57bn for 2020 spectrum recognise that effective, affordable
was announced last week. and 2021. The company distributed a total storage solutions are imperative to achieve
dividend of 2.39bn dirhams in 2019. a sustainably powered future,” said Samik
Mukherjee, McDermott’s group senior
ADNOC expands filling Algeria’s hydrocarbons vice president for projects. “Hydrogen,
like wind and solar, plays a major role in
station network decarbonisation and this study aims to
unlock even greater potential in this field.”
ADNOC Distribution, a subsidiary of state- income dropped by 30% CB&I Storage Solutions specialises in
run Abu Dhabi National Oil Company, has y/y to $22bn in 2020 field-erected spherical cryogenic hydrogen
expanded its network across the country storage and is currently building the world’s
with the opening of dozens of new stations Algeria’s hydrocarbons income dropped by largest liquid hydrogen sphere for NASA.
and retail shops over the last one year. 30% year on year to $22bn in 2020 based “In 1960, we built the first liquid hydrogen
he largest operator of petrol stations and on an average oil price of $42 per barrel, sphere with the capacity to store 170 cubic
convenience stores reported on Monday Algerie Presse Service quoted Energy metres. Over the last sixty years, we have
that it opened a total of 64 new stations, Minister Abdelmadjid Attar as saying. Oil expanded that threshold by about 30-fold to
62 convenience stores and 38 “On the go” and gas revenues play a dominant role in 5,000 cubic metres,” said Cesar Canals, senior
outlets across the UAE in 2020, highlighting Algeria’s balance of payments, accounting vice president of CB&I Storage Solutions.
that it has delivered on its growth strategy for 96% of all foreign exchange earnings, “And we will continue to advance our
despite the challenges posed by the including $2bn in petroleum product technology and apply our expertise to further
coronavirus pandemic. exports in 2020. refine our portfolio of storage solutions to
During the past year, the company also The Algerian government has offered meet our customers’ future demands.”
refurbished a total of 100 ADNOC Oasis six petrochemical contracts to boost McDermott has a strong track record in
convenience stores, while the membership of production and diversify export revenues hydrogen production and storage projects
its ADNOC Rewards, the UAE’s first loyalty into the country from downstream sources. and is a proud supporting member of the
program for fuel retail, hit more than one Three contracts are already signed, one Hydrogen Council.
million by December. of which is with France’s Total in Arzew, CB&I Storage Solutions is the world’s
Moving forward, the company said it is set another is with a Turkish firm, while the leading designer and builder of storage
to go ahead with its plans to distribute 2.57 third is with a South Korean company at facilities, tanks and terminals. With more than
billion dirhams ($700 million) in dividend Skikda. The three other projects requiring 59,000 structures completed throughout its
this year, “subject to board and shareholder $11bn in investments are in their feasibility 130-year history, CB&I Storage Solutions has
approval”. study phase by the national hydrocarbon the global expertise and strategically located
“Although a challenging year, 2020 saw a champion Sonatrach in search of foreign operations to provide its customers world-
continual drive forward with delivery and to joint venture partners. class storage solutions for even the most
provide added value to both customers and Algeria’s drive to develop petrochemical complex energy infrastructure projects.
shareholders,” the company said in a bourse projects, especially after the coming on
filing to the Abu Dhabi Securities Exchange. stream of the Hassi Messaoud refinery,
It said the number of new stations opened lifted local gasoil production to satisfy 70%

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