UAE aims to balance its diversification books
The UAE's ambitious plans to sustain its petrodollars while evolving as a green pioneer will not come cheap. Is the capital available?
The UAE is attempting to craft a new energy identity for the first time since the discovery of oil in 1958. Its focus on gas and renewables is more in step with the global energy transition. But it is also keen to maximise oil production. The UAE Energy Strategy 2050 targets an energy mix of 44pc clean energy, 38pc gas, 12pc ‘clean’ coal and 6pc nuclear. Simultaneously, the national oil company (NOC) Adnoc plans to increase oil production capacity from 3.5mn bl/d at the end of this year to 4mn bl/d by the end of 2020 and 5mn bl/d by 2030—14pc and 43pc rises respectively. The UAE government has allocated over $163bn by 2050 to meet growing energy demand. Private sector funds are also integr
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
