Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Adnoc chairman
Adnoc reaffirms oil and gas intent
New medium-term investment programme remains heavily focused on exploiting additional hydrocarbons
State-owned Adnoc ended 2021 on defiantly traditional territory after a year marked by landmark ambitions in the clean energy arena. In early December, it unveiled a $127bn five-year business plan with major expansions of oil and gas capacity at its heart. And, two weeks later, it celebrated a significant discovery in acreage apportioned during its first international bid round. In word and deed, Abu Dhabi has publicly rejected the IEA’s scenario of a global moratorium on greenfield fossil fuel developments. The 2022-26 capital investment programme approved by the board—chaired by the emirate’s Crown Prince and de facto UAE ruler Sheikh Mohamed bin Zayed al-Nahyan—is not dramatically larger
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
