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
18 September 2025
The Trump administration is using energy exports to strengthen political and economic ties with allies and weaken adversaries, while simultaneously exploiting those ties to open up further markets for US energy
18 September 2025
The country’s intervention in global oil markets to stabilise prices could last well into 2026
16 September 2025
Politicians and executives alike expressed confidence in the trajectory for gas demand at this year’s Gastech, and record volumes of FIDs suggest little concern about a supply glut
16 September 2025
Last chance to submit entries to the 2026 WPC Energy Excellence awards before the deadline of 26 September
