Abu Dhabi oil boost gathers momentum
Projects aimed at delivering ambitious production growth are gathering pace
Abu Dhabi National Oil Company (Adnoc) has a target to increase output by almost 15pc from 3.5mn bl/d in late 2018—when it outlined its new strategy—to 4mn bl/d by the end of 2020, and to 5mn bl/d by 2030. A number of projects that form part of a $132bn five-year investment plan to help achieve them are beginning to motor ahead. And the firm is seeing progress not just in development and production, but also in exploration. In November last year, the country’s Supreme Petroleum Council (SPC) unveiled a rare revision to the UAE’s reserves figures—revealing that recent discoveries in Abu Dhabi totalling some 7bn bl had increased the federation-wide tally to 105bn bl, thereby leapfrogging Kuwa
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
