November 4, 2018 / 10:17 AM / 11 days ago

Abu Dhabi oil producer plans to increase production capacity -Crown Prince

DUBAI, Nov 4 (Reuters) - Abu Dhabi state-owned oil producer ADNOC plans to increase oil production capacity to 5 million barrels per day by 2030, the emirate’s crown prince said in a tweet.

Abu Dhabi’s “Supreme Petroleum Council approved AED 486 billion ($132.33 billion) in capex to support ADNOC’s 5-year growth plans, including its gas strategy to become self-sufficient and a net gas exporter,” Sheikh Mohammed Bin Zayed also said in his tweet.

$1 = 3.6726 UAE dirham Reporting by Maher Chmaytelli; Editing by Catherine Evans

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