Abu Dhabi: UAE aims to increase daily oil production. The UAE aims to increase oil production to 50 lakh barrels by 2025. ADNOC, the national oil company, has stated that the expected increase in production in 2030 can be achieved 5 years earlier. ADNOC is trying to bring more oil and natural gas to the market.
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ADNOC has told international companies involved in UAE oilfields to raise production by 10 percent or more. If this target is achieved in 2025, ADNOC aims to increase it to 60 lakh barrels per day by 2030.
The UAE is the largest oil producer in OPEC after countries like Saudi Arabia and Iraq. Currently, the oil production capacity is 40 lakh barrels per day, but due to the restrictions, the production in August was 34 lakh barrels.
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