The U.S.-sponsored ‘relationship normalisation’ deal signed last year between Israel and the UAE is a core element of Washington’s attempt to counterbalance the advance of China and Russia across the Middle East. The key corporate proxy of the UAE at the forefront of this is the Abu Dhabi National Oil Co (ADNOC), and the announcement last week from the firm that it will invest up to US$6 billion towards improving its drilling business is in line with this overall aim.
It is also vital in enabling the UAE to achieve the corollary…UAE Pumps $6 Billion Into Oil And Gas Expansion Projects
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