A significant oil find in UAE’s offshore advances the country’ plans to reach a production of 5 million bpd by 2030 The discovery is likely to have recoverable reserves of at least 480 million barrels The new crude oil find will also significantly augment ADNOC’s ongoing efforts to establish Murban as a global benchmark A key corporate proxy at the forefront of the Washington’s attempts to counteract the increasing influence of China and Russia across the Middle East is the Abu Dhabi National Oil Co (ADNOC), in line with the U.S.-sponsored ‘relationship normalisation’ deal signed last year between Israel and the UAE. A vital part of ADNOC’s role in this agreement is to boost its crude oil output from the current 4 million barrels per day (bpd) to 5 million bpd by 2030 at the latest and last week saw an announcement from the company that it has discovered […]