Abu Dhabi National Oil Company is seeking to invest in more downstream assets, mainly in refining and petrochemicals, in strategic locations like India to find a stable outlet for its oil, said its chief executive officer, Sultan Ahmed Al Jaber.
"India is not only an important market for us. India is a very strategic partner for United Arab Emirates, spanning all ... sectors, energy being one of (them)," he told reporters on the sidelines of energy conference Petrotech.
ADNOC, along with Saudi Aramco, is participating in a planned 1.2 million-barrels-per-day (bpd) coastal refinery in western Maharashtra state.
ADNOC is also keen to lease more strategic storage in India, Al Jaber said