UAE ups oil and gas output as Iran sanctions hit
The United Arab Emirates, OPEC's fourth largest producer, currently produces up to 3.5 million bpd (AFP Photo/KARIM SAHIB)/ Dubai (AFP) - UAE oil company ADNOC has announced the discovery of new oil and gas resources, with an eye on full self-sufficiency as US sanctions on Iran go into effect. State-run ADNOC, based in the oil-rich capital Abu Dhabi, said Sunday it had discovered new gas fields, totalling 15 trillion standard cubic feet, and another billion barrels of oil. The company also announced plans to boost output to four million ...
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