ADNOC's $150B Spending Plan, New Discoveries

ADNOC unveils massive spending plan, boosts reserves, and announces new discoveries and operating company. The Abu Dhabi National Oil Company has approved a $150 billion spending plan for 2026-2030, increased hydrocarbon reserves, and announced new discoveries. A new operating company, ADNOC Ghasha, was also approved to manage the Ghasha Concession development, aiming to produce 1.8 billion cubic feet of gas per day and 150,000 barrels of oil and condensates per day. ADNOC plans to inject $52 billion into the UAE economy over the next five years to support local manufacturing and small and medium-sized businesses.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.