Top Arab companies in the 2022 Global 500
Country: UAE
Global rank: 159
Industry: Oil & Gas
ADNOC, or Abu Dhabi National Oil Co., is the state-owned oil company of the UAE. It is the world’s 12th largest oil company by production with a capacity exceeding 4 million barrels of oil per day and 10.5 billion cubic feet of natural gas per day.
Founded in 1971, ADNOC is one of few oil companies in the world to make a substantial investment to increase oil production amid growing pressure to reduce output due to climate change.
That said, to adapt to climate needs, ADNOC is planning the large-scale production of hydrogen fuel as a clean energy source to replace oil exports.
In December 2021, ADNOC and the Abu Dhabi National Energy Co., PJSC announced a project that aims to reduce the carbon footprint of ADNOC’s offshore production operations by more than 30 percent.