UAE Quietly Boosts Oil Production Capacity Ahead of OPEC Meeting
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.
Source: oilprice.com
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OPEC's Next Production Decision Could Be Decided in the UAE
Insiders reveal that ADNOC is considering raising production to around 4.85-4.87 million bpd, breaking from the current OPEC strategy.
Source: oilprice.com
Shell, TotalEnergies in talks for stakes in ADNOC's Ruwais LNG plant
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
Source: worldoil.com
ADNOC considered acquiring bp following major purchases by IOCs like ExxonMobil, Chevron
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.
Source: worldoil.com
UAE Slashes Exports of Medium Sour Crude
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.
Source: oilprice.com