The Abu Dhabi National Oil Company (ADNOC) will invest as much as $127 billion in its upstream, downstream, and low-carbon fuel businesses between 2022 and 2026, the state oil firm of OPEC’s third-largest producer, the United Arab Emirates (UAE), said on Wednesday. The investment is set to help the UAE expand its oil and gas production capacity, commit more investments in the downstream segment, and invest more in its low-carbon fuels business and clean energy ambitions.
With the five-year capital spending plan, ADNOC looks to “further…UAE’s Oil Giant ADNOC To Invest $127 Billion Through 2026
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