Middle East

United Arab Emirates

The UAE is one of the few Opec members actively investing to boost crude production capacity, as it targets 5mn b/d by 2030 to secure its position as the group’s No.3.

State of Play

The UAE is advancing ambitious plans to become a net gas exporter through developing unconventional reserves and sour gas. Meanwhile, state firm Adnoc is targeting 5mn b/d production capacity by 2030.

2020 In Numbers
Crude Output 2.78 mn b/d
Crude Exports 2.65 mn b/d
Refining Capacity 1.26 mn b/d
Oil & Gas Export Revenue 38.4 $bn
GDP Growth -5.8 %
Economics & Finance

24 Nov, 2023


US Clamps Down On UAE Firms Trading Russian Oil

UAE-based companies trading Russian oil face growing pressure after the US sanctioned three firms for trading above the G7’s $60/B crude price cap.

Russia's Key Crude Customers ('000 b/d): China & India Buying Still At Near-Record Levels As Turkey Takes Bumper 270,000 b/d For October ('000 b/d)
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Adnoc Increases* Planned Murban Exports From August Onwards (mn b/d)

The UAE Economy Contracted For The First Time In 11 Years In 2020 (Real GDP Growth, %)

UAE Oil & Gas Export Revenues Slumped By 36% For 2020 ($bn)

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