Tag Archives: Abu Dhabi National Oil Co. (ADNOC)

The United Arab Emirates (UAE) is seeking to increase its oil output by 5 million barrels per day by 2030.

ADNOC has a target to have production capacity of 3.5 million bpd by the end of this year.

India is the world’s third-largest consumer of oil.

Baker Hughes is working across the region including in Saudi Arabia and Egypt’s supergiant Zohr gasfield in the Mediterranean.

Adnoc began a wide-ranging shake-up in 2016 to tackle competition from new producers such as US shale firms.

The UAE is the second largest exporter of crude oil to Japan after Saudi Arabia.

Agreement aims to increase production capacity from the Bu Haseer field from 8.000 bpd too 16.000 bpd.

Aramco has used the average of the Oman and Dubai crude prices assessed by Platts since the 1980s as a benchmark.

The agreement extends to sea areas around all ports owned and managed by Abu Dhabi Ports.

ADNOC has said that it would aim to double its refining capacity in a major push to expand its downstream operations.