UAE Plans Global Energy Push With $150 Billion of Spending

Adnoc to IPO part of natural gas business in Abu Dhabi in 2023
Company to look at international deals for gas and chemicals

The Abu Dhabi National Oil Co. Ruwais refinery and petrochemical complex in Al Ruwais, United Arab Emirates. — The Abu Dhabi National Oil Co. Ruwais refinery and petrochemical complex in Al Ruwais, United Arab Emirates.
Photographer: Christophe Viseux/Bloomberg

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By Anthony Di Paola

November 28, 2022 at 2:24 PM UTC

Updated on

November 29, 2022 at 5:26 AM UTC

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The United Arab Emirates’ main energy company will boost investment to $150 billion over the next five years, speed up an increase in oil-production capacity and list some of its natural gas business.