UAE Plans to Increase Oil Production

The United Arab Emirates (UAE) is seeking to increase its oil output by 5 million barrels per day by 2030. Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed al-Nahyan has stated.

`With the blessing of HH Sheikh Khalifa. the Supreme Petroleum Council approved AED 486 billion [$132bln] in capex to support ADNOC’s [Abu Dhabi National Oil Company`s] 5-year growth plans. including its gas strategy to become self-sufficient &amp. a net gas exporter. ADNOC will increase oil production capacity to 5mpbd by 2030.` the crown prince said on Twitter.

In September. United Arab Emirates (UAE) Energy Minister Suhail Mazrouei positively evaluated the situation on the oil market. noting an increase in production.

About core

Check Also

EIA: Historic Drought at the Panama Canal Causes Delays

The EIA reports that delays at the Panama Canal because of low water levels are …

Leave a Reply

Your email address will not be published. Required fields are marked *