Abu Dhabi National Oil Company

Built World

Took final investment decision on Ruwais Diyab on 2 November 2026

ADNOC Onshore has issued three award letters to the Abu Dhabi branch of Jereh Oil & Gas Engineering, part of China's Yantai Jereh Oilfield Services Group. They cover full development of the Ruwais Diyab unconventional gas field and well tie-in work across the Bab, North East Bab and Bu Hasa oil fields, with a headline value of $2.697 billion.

Updated 1 hour ago

Money Moves

Co-owner of TA'ZIZ and majority owner of Fertiglobe

TA'ZIZ has spent two years building a low-carbon ammonia plant and a chemical export terminal at Ruwais, an industrial city about 240 kilometres west of Abu Dhabi. On November 4, it closed $1.39 billion in project financing for the two, shifting them from shareholder-funded construction sites into assets backed by long-term bank debt.

Updated Yesterday

Force in Play

As of August 2026: Ruwais and Fujairah refineries remain offline; tanker Barakah struck again August 8 in the Strait of Hormuz with no injuries

The ceasefire draft that leaked in May became real on June 17, when Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding by video call, giving both sides 60 days to reach a final deal. Iran agreed not to build nuclear weapons under the pact. The truce broke on July 13: Iran struck two UAE tankers in Omani waters with cruise missiles, killing an Indian crew member, and the US resumed strikes on Iran and reimposed its naval blockade.

Updated Aug 20

Money Moves

As of May 2026: Cleared to lift production toward 5M barrels/day capacity

The United Arab Emirates joined OPEC in 1967, when crude sold for under $2 a barrel. On May 1, 2026, after fifty-nine years, it walks out—taking roughly 13% of OPEC's production capacity, according to the International Energy Agency.

Updated May 31