Concept

Abu Dhabi National Oil Company

Summary
The Abu Dhabi National Oil Company (شركة بترول أبو ظبي 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. As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030. It is the United Arab Emirate's largest oil company. ADNOC's output was 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. 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. History In November 2019, ADNOC received approval from the emirate’s Supreme Petroleum Council to list its flagship Murban crude oil as a futures contract
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