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
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
