• 6 minutes Will the trade war hurt US project builds? Not if the US does it right.
  • 12 minutes OIl Targets from Experts to $300, vs. imho $52
  • 19 minutes Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 7 hours Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 2 days Apple's $300 fund in China
  • 6 mins Trade War of 1930s, Extended the Great Depression
  • 2 days Ireland Exits Fossil Fuels
  • 6 hours Oil prices going down
  • 21 hours Britain should bet more on renewables and less on nuclear
  • 3 days Top Adviser to Khamenei: Iran Will Leave Syria, Iraq Only if Baghdad, Damascus Want It
  • 3 days Michiganders, Rejoice: Musk Will Fix Flint
  • 2 days Russia & China bypassing Oil Sanctions to North Korea, U.S. Peeved
  • 11 hours Tesla Shareholders Finally Fed Up? Could it be true?
  • 3 days Trump Threatens Sanctions against Shell, Uniper
  • 3 days Consumer prices on rise
  • 2 days What can bring oil prices down?
The Downfall Of U.S. Nuclear Power

The Downfall Of U.S. Nuclear Power

A shocking report from researchers…

How Higher Oil Prices Are Hurting Demand

How Higher Oil Prices Are Hurting Demand

Crude Oil, Natural Gas, Automation,…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

UAE’s ADNOC Can Lift Oil Production By ‘Several Hundred Thousand’ Bpd

Adnoc

The Abu Dhabi National Oil Company (ADNOC) has the ability to raise its oil production by “several hundred thousand” barrels per day, the state-run oil firm of the United Arab Emirates (UAE) said on Tuesday.

ADNOC confirmed that its current crude oil production capacity stands at 3.3 million bpd, and stays on track to boost its production capacity to 3.5 million bpd by the end of this year.

“ADNOC has the ability to increase oil production by several hundred thousand barrels of oil per day, should this be required to help alleviate any potential supply shortage in the market,” the company said in a statement, as carried by the Emirates news agency WAM.

ADNOC is ready to boost its production and is working in close cooperation with the UAE’s Ministry of Energy and Industry, the state-run oil company said.

Abu Dhabi holds most of the oil resources of the UAE, whose crude oil production was 2.865 million bpd in May, according to OPEC’s secondary sources.

According to industry sources who spoke to Reuters, the UAE’s oil production was 2.87 million bpd in June, basically flat compared to May and just in line with its production quota of 2.874 million bpd under the original OPEC deal.

Related: This Is How Much U.S. Households Lose As Gas Prices Rise

Compared to the production capacity that ADNOC says it has—3.3 million bpd—the UAE may have the ability to raise its oil production…

To read the rest of this article Start a FREE subscription to our premium publication

Oil & Energy Insider - 14 day free trial

14 day FREE trial
A FREE Subscription Includes:
  • Investment advice normally reserved for hedge fund clients.
  • Market & sector research not available anywhere else.
  • Strategic advice from corporate & military intelligence analysts.
  • 9 Weekly Investment / intelligence reports.
  • Full access to all previous reports.
  • 14 days risk free trial.
Get FREE access to our research for 14 days

An essential resource for all investors in the energy sector whether you're a trader, fund manager or individual investor - this inside look at the energy markets is unlike any other report or service currently available.

Oilprice - The No. 1 Source for Oil & Energy News