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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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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.