Abu Dhabi National Oil Company (ADNOC)

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Abu Dhabi National Oil Company (ADNOC)

Abu Dhabi National Oil Company (ADNOC)

Company Registration No. :
CN-1250984

Company Location :
Abu Dhabi, United Arab Emirates

SHORT BUSINESS DESCRIPTION

The Abu Dhabi National Oil Company (Arabic: شركة بترول أبوظبي الوطنية) or ADNOC is the state-owned oil company of the United Arab Emirates (UAE). It is the world's 12th largest oil company by production.[2] As of 2021, the company has an oil production capacity exceeding 4 million b/d with plans to increase to 5 million bpd by 2030.[3][4] It is the United Arab Emirate's largest oil company.[5][6][7]

ADNOC's output has been roughly flat at about 2.5 million barrels per day during the 1990s. It stood at 2.9 mbpd in 2008. Although its financial indicators are difficult to assess as the company has been described as secretive, it has also been described as efficient and well managed.[8] ADNOC is one of few oil companies in the world to make a substantial investment to increase oil production amid growing pressure to reduce output due to climate change, which according to the company is necessary as oil and gas continues to power the world economy and to prevent price shocks in natural gas and oil caused by premature cuts in investment. In an effort to adapt to climate needs, ADNOC is planning the large scale production of hydrogen fuel as a clean energy fuel to replace oil exports.[9]

Click here to find more on website link : https://www.adnoc.ae/