Adnoc (Abu Dhabi National Oil Company), a state-owned oil company in the United Arab Emirates, announced that it will invest US$55 billion in projects between 2026 and 2028. The announcement comes days after the country announced its withdrawal from the Organization of Petroleum Exporting Countries (OPEC).
In a note, Adnoc informed that the resources reinforce the execution of the five-year capital expenditure plan (Capex), approved by the company’s Board of Directors in 2025. The objective of the investments is to inaugurate “a new phase of execution of projects on a global scale” along its value chain to meet the growing global energy demand, he added.
The company stated that the projects involve everything from exploration and production operations (upstream) to refining and marketing (downstream) and will boost “production capacity” and “strengthen industrial resilience” of Adnoc.
According to the general coordinator of the Single Federation of Oil Workers (Fup), Cibele Vieira, the United Arab Emirates’ exit from OPEC should redefine the global energy scenario and, among the impacts for Brazil, in the medium and long term, is a possible dispute with Petrobras for the Chinese market, the largest buyer of Brazilian oil.
