The Abu Dhabi National Oil Company (Adnoc) will spend more than $100 billion in the next four years on increasing its oil production capacity and building other oil and gas facilities, a senior official said.
The company is on tra
The sharp rise in Saudi Arabia’s domestic oil consumption and the increasing government spending pose huge challenges for the kingdom’s economy, says a report.
There is widespread understanding that with oil prices around $100 per barrel,
The United Arab Emirates will keep to its 2010 federal spending target of 43.6 billion dirhams ($11.9 billion) and will end the year with a balanced budget as planned, a senior finance ministry official said.
The world's third-largest oil