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Fri 18 Jan 2019 12:30 PM

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UAE's ADNOC named among world's top energy giants

New report features Abu Dhabi National Oil Company among the world's top 10 most influential companies in the energy sector

UAE's ADNOC named among world's top energy giants
ADNOC's recognition follows the publication of its $132 billion capital investment plan to support its five-year growth plan.

Abu Dhabi National Oil Company (ADNOC) has been named among the world's top 10 most influential companies in the energy sector, according to research and intelligence firm GlobalData.

The only Middle Eastern company featured on the GlobalData's list, ADNOC was ranked sixth, and third among big oil firms, after Exxon Mobil and China's CNBC, state news agency WAM reported.

The Paris-based independent organisation, International Energy Agency, was ranked top of the list by GlobalData.

The US Energy Information Administration, which publishes data and analyses on oil production, took second position, while Exxon Mobil, one of the largest oil firms came in third.

State-owned China National Petroleum Corporation, the only Asian company on the ranking, took fourth position. The company had upstream successes in the Middle East last year, notably winning concessions with ADNOC to explore oil and gas onshore and offshore in Abu Dhabi.

The US Department of Energy, which regulates policy on energy in the US, was fifth on the GlobalData list, ahead of ADNOC.

ADNOC's recognition follows the publication of its $132 billion capital investment plan to support its five-year growth plan.

Under the plan, ADNOC will increase its oil production capacity to 4 million barrels per day (mmbpd) at the end of 2020 and 5mmbpd by 2030.

ADNOC’s integrated oil and gas strategy underpins its $45 billion downstream investment plans announced in May, which will see the company triple production of petrochemicals to 14.4 million tons per annum by 2025 and create over 15,000 jobs.

ADNOC also unveiled a blueprint to create the world’s largest integrated refining and petrochemicals complex in Ruwais, which will enable it to further stretch the value of every barrel it produces. In addition to being used for power generation and other industrial uses, natural gas is the fuel that powers most chemical and refining processes.

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