Press release

Etihad Refinery signed a 10-year strategic Offtake Agreement with the Government of Fujairah for the sale of the refinery's gasoline production, effective July 6, 2026.
The estimated project cost is expected to range between USD 300 million and USD 350 million, with preliminary estimates suggesting the project could generate at least USD 1 billion in additional value for the company.
Engineering and design phases have commenced in collaboration with Honeywell UOP and PEG, with the Final Investment Decision (FID) and commercial operations timeline pending the completion of these studies.
The project will process naphtha into Euro 5 specification gasoline using existing Phase 1 and Phase 2 storage infrastructure to meet regional demand for cleaner fuels.