Page 17 - MEOG Week 31.indd

MEOG NEWS IN BRIEF MEOG

OIL team could deploy within three weeks of gas carriers (VLGCs) and modern product
receiving all necessary permits. tankers.
UN still waiting for Houthi assessment is critical ... to allowing us to fully transporting LPG cargoes and other
The company will be responsible for
“An independent and expert driven
approval to visit decaying understand the scope, the size, the threat of petroleum products, sourced from the
this issue and the possible solutions to it,”
ADNOC Group and global suppliers, to
tanker Griffiths said on Tuesday. Wanhua Group’s manufacturing bases in
China and around the world.
Lowcock has said that on May 27
The United Nations said on Tuesday it was water began leaking into the engine room, Dr Sultan Ahmed Al Jaber, UAE Minister
still waiting for Yemen’s Houthi group to threatening to destabilize the tanker and that of Industry and Advanced Technology and
authorize deployment of an assessment team while divers from the Safer Corporation were Adnoc Group CEO, said: “The establishment
to a decaying oil tanker that is threatening able to fix the leak “it is impossible to say how of AW Shipping supports Adnoc’s smart
to spill 1.1 million barrels of crude oil off the long it might hold.” growth and value creation strategy and is
war-torn country’s coast. The United Nations has warned that the another example of how Adnoc is stretching
Two weeks ago UN aid chief Mark Safer could spill four times as much oil as the the margin from every molecule that we
Lowcock told the UN Security Council that 1989 Exxon Valdez disaster off Alaska. produce, refine, ship and sell, while also
Houthi officials had agreed to allow a UN REUTERS forging stronger partnerships in key growth
team to conduct a technical assessment and markets.”
whatever initial repairs might be feasible on Adnoc L&S owns and operates the UAE’s
the Safer tanker. SERVICES largest shipping fleet, which is expected to
UN Yemen mediator Martin Griffiths told grow further in the coming years as Adnoc
the 15-member council on Tuesday: “We are UAE strengthens Chinese increases its upstream and downstream
still awaiting the permissions necessary for production capacity, and enters into trading.
this team to deploy.” ties with ADNOC, Wanhua Liao Zengtai, chairman of Wanhua
The Safer tanker has been stranded off Chemical Group, said: “The new company will
Yemen’s Red Sea oil terminal of Ras Issa for deal strengthen the strategic cooperation between
more than five years. Earlier this month the Adnoc and Wanhua and will also ensure
Security Council called on the Houthis to Links between the UAE and China have the stable supply of LPG cargoes and other
facilitate unconditional UN access to the been further strengthened with the signing petroleum products for Wanhua system.”
tanker as soon as possible. of a joint venture between Abu Dhabi-based Last year, ADNOC L&S, which was formed
Yemen has been mired in conflict since Adnoc Logistics & Services (ADNOC L&S) in late 2016, transported over 20 million
the Iran-allied Houthi group ousted the and Wanhua Chemical Group (Wanhua), to metric tonnes of various oil & gas products
government from the capital Sanaa in 2014. create AW Shipping Limited. and dry bulk commodities.
A Saudi-led military coalition in 2015 The new company, which is incorporated ARABIAN BUSINESS
intervened in a bid to restore the government. in Abu Dhabi Global Market (ADGM),
Lowcock earlier this month said a UN will own and operate a fleet of very large

Week 31 05•August•2020 www. NEWSBASE .com P17