State-owned oil company
Appears in 2 stories
Operator of multiple refineries hit or shut down during the strikes
An Iranian drone slipped through UAE air defenses on Monday and ignited a fire at the Fujairah Petroleum Industries Zone, the bunkering hub through which much of the Gulf's refined fuel passes. Three foreign workers were injured, an Abu Dhabi National Oil Company (ADNOC) refinery shut down, and the country's Ministry of Education sent every school and university to remote learning through Friday. On Tuesday the air defenses fired again as a second wave of ballistic missiles, cruise missiles, and drones came in.
Updated May 5
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. Officials cite quotas that capped UAE output near 3.2 million barrels a day despite physical capacity at Abu Dhabi National Oil Company (ADNOC) closer to 5 million. The exit is the largest single departure since Angola left in 2024, and it reshapes the strategic balance between Riyadh and Abu Dhabi.
Updated Apr 30
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