economy
May 3, 2026
Abu Dhabi National Oil Company Plans $55 Billion for New Projects
The Abu Dhabi National Oil Company "Adnoc" promised today to spend $55 billion on new projects in the next two years.
TL;DR
- Adnoc plans to spend $55 billion on new projects over the next two years (2026-2028).
- This investment commitment comes two days after the UAE officially left OPEC.
- The UAE has been eager to increase production and had expressed dissenting views within OPEC.
- Adnoc is mentioned as a potential new co-owner of Serbia's NIS, alongside Hungary's MOL.
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