Skip to content Skip to Search
Skip navigation
Company Insights

Adnoc

Oil & Gas

Adnoc Overview

Abu Dhabi National Oil Company – Adnoc – is the state-owned oil company of the United Arab Emirates.

Founded in 1971, Adnoc is the world’s 12th largest oil company by production, producing around 4.85 million barrels capacity of oil each day from its Ruwais and Umm Al Nar refineries.

It develops both onshore and offshore gas fields, with access to a total daily gas processing capacity of over 10 billion standard cubic feet.

Adnoc operates across the energy value chain via a range of companies including Adnoc Drilling, Adnoc Distribution, Adnoc LNG and Adnoc Gas Processing and including exploration and production, processing and refining, and marketing and distribution.

It received significant investments in 2019 from US asset managers BlackRock and KKR, Italian investment firm Eni and Singapore’s sovereign wealth fund GIC.

In September 2020 Adnoc completed a $1 billion placement of shares for its fuel and convenience retailer Adnoc Distribution, the largest block placement of a publicly listed GCC company following its 2017 IPO. Adnoc still owns 80 percent of the company.

This was followed by Adnoc Drilling going public on ADX in October 2021 and then Adnoc Trading, its gas processing and marketing company, being publicly listed on ADX in March 2023.

Then in September 2024 Adnoc launched its first-ever bond sale, raising $4 billion through its wholly-owned primary debt capital market funding vehicle, Adnoc Murban.

Adnoc aims to get to zero methane emissions by 2030 and net zero emissions by 2045 by investing in green energy and decarbonisation technologies.

Adnoc News

Borouge's sales volume of polyethylene and polypropylene, used in plastics and packaging, increased

Borouge net profit increases to $281m for first quarter

UAE petrochemical company Borouge reported a rise in profit for the first quarter, driven by higher production and revenue. Net profit for the three months to March rose to $281 million, on the back of an increase in sales volumes and cost reduction, the company said in a statement. Production volumes rose 7 percent year […]

Adnoc is to sell more US LPG to India. LPG has a variety of uses, including as a cooking fuel.

Adnoc to supply US LPG to India following China-US tariffs

Abu Dhabi National Oil Company (Adnoc) will start replacing some of the liquefied petroleum gas (LPG) it supplies to India with cheaper US cargoes from June, industry sources said, as US-China tariffs rejig global trade flows. The move will enable Adnoc to ship more of its own LPG to China, where buyers are paying higher […]

Borouge, backed by Abu Dhabi National Oil Company (Adnoc) and Austria’s OMV, has awarded two contracts for the expansion

UAE’s Borouge to expand its production capacity 

UAE petrochemical company Borouge, a specialist in polyethylene and polypropylene, has unveiled expansion plans to increase annual production capacity to more than 6.6 million tonnes by 2028. The expansion is expected to contribute $165-$200 million in earnings before interest, tax and depreciation, the company said in a statement.  Borouge, backed by Abu Dhabi National Oil […]

While lower oil prices may squeeze some Mena producers, Gulf nations are expected to maintain long-term investment plans

Gulf oil investment ‘can weather price slump’

International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […]

Sultan Al Jaber, the group CEO of Adnoc

Adnoc to raise $1.5bn with Islamic bonds

Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […]

An LNG carrier. A tariff war with the US has pushed Chinese buyers to resell US-sourced cargoes and secure new supply deals

Adnoc strikes another LNG deal with Chinese energy major

China National Offshore Oil Corporation (Cnooc) has agreed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc), according to two Chinese trading sources and a state media report. It is the third supply contract Adnoc has signed with Chinese buyers recently, following the deals over the weekend with ENN […]

Adnoc CEO Sultan Al Jaber attended the opening of the company's new Beijing office on Friday

Chinese energy companies sign LNG deals with Adnoc

China’s privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed deals to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about 1 million metric tonnes for 15 years, marking Adnoc’s largest LNG […]

Shell has about 10 percent of South Africa’s fuel retail market.

Adnoc on shortlist to buy Shell South Africa fuel stations

Abu Dhabi National Oil Company (Adnoc) has been shortlisted to acquire Shell’s fuel stations and other downstream assets in South Africa for as much as $1 billion. Shell’s portfolio in South Africa includes about 600 fuel stations and local trading operations, Bloomberg reported, without identifying its sources. Shell has appointed Rothschild to run the sale […]

Founded in 2009, TI has AED15 billion of assets under management through its existing portfolio of 11 operating offshore transmission assets

Abu Dhabi’s Taqa buys UK’s Transmission Investment

Abu Dhabi National Energy Company (Taqa) has fully acquired Transmission Investment (TI), a UK-based energy and utility investment company, giving the UAE company access to the European market. TI is one of the largest players in transmission systems, which connect offshore wind farms to the UK grid. The UK company will become part of Taqa Transmission, […]