UAE ADNOC boosts budget allocation for decarbonization projects to $23 bln - Abu Dhabi media office

UAE's Abu Dhabi National Oil Company (ADNOC) agreed on Monday to boost its budget allocation for landmark decarbonization projects, technologies and lower-carbon solutions to $23 billion (84.4 billion UAE dirhams), Abu Dhabi media office reported.

ADNOC also confirmed it would drive $48.5 billion back into the UAE economy over the next 5 years.

($1 = 3.6728 UAE dirham)