IMG.gif

Adnoc Steps Up Transition Push for UAE

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
AP_187071929148-MIDEAST CLIMATE TALKS SOLAR DREAMS

Abu Dhabi National Oil Co. (Adnoc) is pulling out all the stops to retain its role as a growing oil producer, while also becoming the key enabler for the United Arab Emirates to achieve its target of net-zero emissions by 2050. Indeed, amid relentlessly accelerating energy transition pressures, Adnoc has turbocharged its response. The state oil giant is targeting leading positions in carbon capture, utilization and storage, blue hydrogen, and just announced plans to develop green hydrogen and renewable projects — a first. Its prominence and importance to the UAE economy, along with its financial and project management muscle, strategic acumen and leadership commitment, make Adnoc the key lever for the Mideast Gulf state to hit its transition goals. Still, success is not guaranteed. Much will depend on the development of a global hydrogen market, of which countries like the UAE are seeking to capture a critical portion, and continued demand for oil to fund what will be an expensive transition. Adnoc has advantages that some of its national oil company peers lack. These include the unequivocal backing of its leadership, as well as fellow state or quasi-state entities like Masdar, Mubadala and Taqa to collaborate with under the Abu Dhabi Inc. umbrella. Adnoc CEO Sultan al-Jaber's dual role as the UAE's climate envoy and minister of industry and advanced technology also enables fast-track decision-making and ensures full government support and alignment across sectors.

Topics:
Low-Carbon Policy, Conventional Oil and Gas
Wanda Ad #2 (article footer)
#
The biggest direct action against Russian oil supplies ever taken by the West is just days away, but many questions remain about the price cap.
Thu, Dec 1, 2022
Hydrogen is gaining a surge of investments, and gas pipelines are considered a top way to transport the resources and take advantage of the vast potential.
Fri, Dec 2, 2022
The US EPA released its proposal for the required volumes of biofuels that refiners must blend into gasoline over the next three years.
Thu, Dec 1, 2022