United Arab Emirates will increase oil and gas output

Significance

ADNOC believes there will be a solid market for hydrocarbons for decades to come; it aims to preserve its role as a leading global hydrocarbons supplier while cutting carbon emissions.

Impacts

• ADNOC will continue to sell down minority stakes in subsidiaries and projects.
• Supply-chain localisation will be a priority to bolster the government’s manufacturing growth and job-creation drives.
• The company will invest selectively in projects overseas with existing international partners.