Supreme Petroleum Council approves Dh486 billion investment for Adnoc

Abu Dhabi: Abu Dhabi National Oil Company (Adnoc) will increase oil production capacity to 5 million barrels per day by 2030 and the Supreme Petroleum Council approved Dh486 billion in capex to support the company’s five-year growth plans, according to a tweet by His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

“Accelerating investments, driving competitiveness & increasing productivity are strategic imperatives, as we enter a new phase of national development. Adnoc is taking proactive steps to keep the UAE ahead of the curve and to enable future prosperity,” Abu Dhabi Crown Prince said.


 More details are awaited. 

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