High oil prices allow Adnoc to increase spending on major expansions
Adnoc focuses on gas for expansion drive
The Emirati giant is keen to reinforce its status as a net gas exporter while remaining cost-conscious even as it splashes its oil windfall
Adnoc remains committed to capital discipline despite sustained high oil prices, with recent decisions to relocate a planned LNG terminal and to re-tender contracts for an offshore development showing a desire to keep down costs while focusing its expansion plans on gas. In a press release in early May, the Emirati state-owned firm announced the new liquefaction terminal, which had been planned for eastern oil port of Fujairah, would instead be built at Ruwais, the existing gas processing and downstream hub in western Abu Dhabi. Days before, prospective bidders were informed of a third re-tender of the main contracts on the Hail/Ghasha offshore sour gas development project—the largest and co
Also in this section
17 June 2025
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
17 June 2025
Sound development planning is essential in this diverse and rapidly evolving region
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
