Mixed reactions to Adnoc's plans
Confidence and fear in Adnoc’s new upstream plan
The Emirati heavyweight’s five-year investment blueprint calls for an accelerated oil and gas capacity ramp-up
The UAE’s Adnoc enters 2023 charged by its government owner with a newly ambitious upstream mission. A five-year business plan approved by the board in November demands crude production capacity reaches the longstanding 5mn bl/d milestone—up from c.4.2mn bl/d at present—three years earlier than previously scheduled. Also targeted is a sufficient increase in gas output to support an almost threefold increase in exports. Adnoc’s corporate dynamism, support from a host of international partners equally keen to step on the accelerator and a $150bn budget stand the company in good stead to deliver. 2bn bl – Reserve boost from Adnoc’s 2022 exploration Adnoc explained the heavily trailed de
Also in this section
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
20 January 2025
Country offers to boost gas exports to Europe to 10bcm/yr, but serious questions remain
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
