Date: 4 months ago   Category: Energy

The UAE plan to increase oil production by 2030 to 5 million barrels a day — Rambler News Service


Photo: Mikhail Mettsel / TASS the United Arab Emirates (UAE) plan to increase oil production to 5 million barrels a day by 2030. The crown prince of Abu Dhabi Muhammad Al Nahayan on the Twitter has reported about it. "ADNOC (National oil company of Abu Dhabi. — RNS) will increase capacities for oil production to 5 million barrels a day by 2030" — the crown prince has reported. According to him, the Supreme oil Council has approved capital expenses of 486 billion UAE dirhams to support plans of ADNOC. In September of this year the countries of OPEC have increased oil production by 100 thousand barrels a day in comparison with an indicator of August of the current year — to 32,78 million barrels a day. In November, 2016 member countries of OPEC have reached the agreement on reduction of oil production on 1,2 million barrels a day — to 32,5 million barrels — and have defined quotas for the countries. The late agreement several times lasted. In June of this year the OPEC countries at a meeting in Vienna have made the decision to increase production since July 1, 2018 approximately by 1 million barrels a day — to 100% of observance of terms of transaction.

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