The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE), Reuters quoted ADNOC’s chief executive, Sultan Ahmed Al Jaber, as saying on Tuesday. The UAE, one of the large producers in OPEC, is looking to boost its production capacity and eventually, its crude oil production, when the OPEC+ output cuts end. Last November, Abu Dhabi’s Supreme Petroleum Council said that the emirate had increased its total oil reserves by 2 billion barrels to 107 billion barrels thanks to new discoveries. The council also announced Abu Dhabi had 22 billion barrels of unconventional oil reserves to date, again thanks to new discoveries onshore. This amount is larger than the reserves contained in Abu Dhabi’s fields in development and, according to the Supreme Petroleum Council, could rival the U.S. shale boom. “Today’s […]