The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximise earnings for the Gulf state. Like Gulf neighbours Saudi Arabia and Qatar, the UAE wants to exploit its fossil fuel resources...
ADNOC made the final investment decision ( FID ) on the project for the development of two gas fields on the UAE shelf – Hail and Ghasha. Deposits are part of the Abu Dhabi Ghasha concession, in which more than 1.5 billion cubic meters are planned to be mined by the end of the decade....
Executives are talking up their net zero plans, but there’s a risk the gap between rhetoric and reality becomes too wide. The Abu Dhabi International Petroleum Exhibition and Conference, or Adipec, is the most oily event imaginable: acres of halls filled with people selling pipes, pumps and drill bits — everything you need to get fossil fuels out...
International contractor Kent has started work on an engineering, procurement, construction and management contract for the full-field development of Abu Dhabi National Oil Company’s (Adnoc’s) onshore Bab Far North project. Adnoc is expected to spend $150 billion up to 2027 on advancing its 5 million barrels per day oil production capacity target, due to improved...
UAE giant advancing its 5 million bpd oil production capacity target to 2027 on back of improved market fundamentals. Engineering, procurement and construction activity in Abu Dhabi is soaring to record highs as state oil company Abu Dhabi National Oil Company (Adnoc) pushes ahead with an ambitious oil and gas expansion programme. Billions of dollars...
Abu Dhabi oil giant builds internal ‘investment bank’ to chase $50bn in globaldeals. The Abu Dhabi National Oil Company has amassed a nearly 50-strong team of dealmakers and is pursuing roughly $50 billion in transactions as part of a push todiversify its business and expand abroad. Adnoc, led since 2016 by Sultan al-Jaber, has quietly...
US national security officials are scrutinising an Abu Dhabi sovereign wealth fund’s planned $3bn takeover of New York-based Fortress Investment Group amid concerns in Washington over the United Arab Emirates’ ties to China, people close to the situation told the Financial Times. The review by the Committee on Foreign Investment in the United States, an...
A data leak reveals years of special operations by the Geneva agency Alp Services on behalf of the secret services of the United Arab Emirates. This European scandal shakes the boss, Mario Brero, who has long ruled the opaque world of economic intelligence and smear operations. When hackers do marketing, this gives a mysterious PowerPoint...
“Mediapart reveals that a private Swiss Detective agency sent the names of a thousand Europeans to the Abu Dhabi intelligence services, qualifying them, often wrongly, as Islamists having close ties to the Muslim Brotherhood. Among the victims of this absurd filing are Benoît Hamon, Samia Ghali, the CNRS and the La France insoumise mouvement. “A...
Vladimir Lisin has transferred his stakes in Russia’s biggest steelmaker and a rail freight operator to companies registered in Abu Dhabi, the latest example of a billionaire shifting assets to the oil-rich emirate. The businessman, who’s worth about $23 billion according to the Bloomberg Billionaires Index, moved his stakes in Novolipetsk Steel PJSC and Freight One JSC from Cyprus...