UAE brings forward oil production capacity expansion to 2027

The board of Abu Dhabi's ADNOC has endorsed plans to bring forward the company's five million barrel per day oil production capacity expansion to 2027, the company said in a statement on Monday.

ADNOC's gas processing and LNG businesses will be consolidated to create ADNOC Gas, and ADNOC will float a minority stake in the new company on ADX next year, the statement added.