Abu Dhabi National Oil Company

Abu Dhabi National Oil Company
(ADNOC)
Native name
شركة بترول أبو ظبي الوطنية
Company typeGovernment owned corporation
IndustryOil and gas
Founded1971; 53 years ago (1971) (restructured in 1988)
Headquarters
Abu Dhabi
,
United Arab Emirates
Key people
ProductsCrude oil
Oil products
Natural gas
Petrochemicals
Number of employees
65,000 (2015)[1]
Websitewww.adnoc.ae

The Abu Dhabi National Oil Company (Arabic: شركة بترول أبو ظبي الوطنية), known by its acronym ADNOC, is the state-owned oil company of the United Arab Emirates (UAE).

It is the world's 12th largest oil company by production.[2] As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030.[3][4] It is the United Arab Emirate's largest oil company.[5][6][7]

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.[8]

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.[9]

  1. ^ "Abu Dhabi's ADNOC cutting 5,000 jobs – MEED". Archived from the original on March 25, 2022. Retrieved January 21, 2018.
  2. ^ "Adnoc among top 10 oil and gas firms worldwide, new ranking finds". The National. January 5, 2019. Archived from the original on May 21, 2021. Retrieved December 2, 2020.
  3. ^ "ADNOC awards $744 mil contract to develop offshore block amid oil capacity boost". S&P Global. May 25, 2021. Archived from the original on May 25, 2021. Retrieved October 16, 2021.
  4. ^ Raval, Anjli; Kerr, Simeon (January 18, 2021). "Adnoc defies retreat from oil with push to pump up output". Financial Times. Archived from the original on October 16, 2021. Retrieved October 16, 2021.
  5. ^ "UAE Approves ADNOC Plan to Raise Oil Output to 3.5M BPD by 2018". Archived from the original on December 12, 2016. Retrieved December 5, 2016.
  6. ^ Jessy, Raggie (December 1, 2019). "Agong visits UAE's largest oil company in Abu Dhabi". The Third Force. Archived from the original on December 25, 2019. Retrieved December 2, 2020.
  7. ^ "Who We Are". www.adnoc.ae. Archived from the original on June 13, 2020. Retrieved December 2, 2020.
  8. ^ Rai, Varun; Victor, David G. (2011), Victor, David G.; Hults, David R.; Thurber, Mark C. (eds.), "Awakening giant: strategy and performance of the Abu Dhabi National Oil Company (ADNOC)", Oil and Governance: State-Owned Enterprises and the World Energy Supply, Cambridge University Press, pp. 478–514, ISBN 978-0-511-78405-7, archived from the original on June 11, 2018, retrieved October 16, 2021
  9. ^ Reed, Stanley (October 30, 2021). "A Major Persian Gulf Oil Producer Tries to Burnish Its Climate Credentials". The New York Times. ISSN 0362-4331. Archived from the original on October 31, 2021. Retrieved October 31, 2021.