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Abu Dhabi oil producer plans to increase production capacity

Reuters/Dubai
Filed on November 4, 2018 | Last updated on November 4, 2018 at 03.18 pm
Abu Dhabi oil producer plans to increase production capacity

(Alamy)

Supreme Petroleum Council approves Dh486 billion in capital expenditures to support Adnoc's growth plans.

Adnoc plans to increase oil production capacity to 5 million barrels per day by 2030, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said in a tweet.

Abu Dhabi's "Supreme Petroleum Council approved Dh486 billion ($132.33 billion) in capital expenditures to support Adnoc's 5-year growth plans, including its gas strategy to become self-sufficient and a net gas exporter," Sheikh Mohamed said in his tweet.





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