Page 3 - Adnoc News Today

The UAE’s state-owned oil company has updated its maximum crude oil production capacity, increasing the figure from 4.65 million bpd to 4.85 million bpd.

Insiders reveal that ADNOC is considering raising production to around 4.85-4.87 million bpd, breaking from the current OPEC strategy.

The Ruwais project, which is currently fully owned by Adnoc, will have the capacity to export 9.6 million tons of LNG per year, more than doubling the UAE’s total output

According to “people familiar with the matter,” discussions didn’t progress farther than initial conversations. Along with political factors, ADNOC decided that the $110.3 billion company wouldn’t fit well into its strategy.

The UAE is slashing exports of its Upper Zakum oil grade as it is diverting more volumes of the medium sour crude to a huge domestic refinery.

Kenya paid over Sh210 billion to three Gulf companies under a G2G import credit scheme.

Adnoc: At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC).

In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".

In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".

Talks between BP and ADNOC over purchasing a stake in Israeli energy giant NewMed have been suspended due to the war in Gaza.