February 23, 2026
Methodology About Newsletter
WE THE UAE 2031
The Vanderbilt Terminal for the UAE's National Transformation
INDEPENDENT GLOBAL INTELLIGENCE FOR THE UNITED ARAB EMIRATES
UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% | UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% |

Definition

ADNOC, the Abu Dhabi National Oil Company, is the state-owned petroleum conglomerate of the Emirate of Abu Dhabi. Founded in 1971, ADNOC operates across the entire hydrocarbon value chain from exploration and production to refining, distribution, and petrochemicals. It is one of the world’s largest oil and gas companies by production volume and proven reserves, serving as the primary revenue engine for Abu Dhabi and a significant contributor to the broader UAE economy.

UAE Context

ADNOC manages approximately 96 percent of Abu Dhabi’s oil reserves, which represent nearly all of the UAE’s total proven crude reserves of roughly 111 billion barrels. The company has undergone a major transformation since 2016 under CEO Sultan Ahmed Al Jaber, pursuing commercial partnerships, IPOs of subsidiaries, and expansion into petrochemicals and low-carbon energy. ADNOC Distribution was listed on the Abu Dhabi Securities Exchange in 2017, and ADNOC Drilling followed in 2021, marking a shift toward greater transparency and value creation.

Key Data

  • Founded: 1971
  • Production capacity: Approximately 4 million barrels of oil per day
  • Proven reserves: Roughly 111 billion barrels of crude oil
  • Subsidiaries: ADNOC Drilling, ADNOC Distribution, ADNOC Gas, Borouge (petrochemicals), Fertiglobe
  • Employees: Over 60,000 across the group
  • Headquarters: Abu Dhabi

Significance for Vision 2031

While ADNOC remains the financial anchor of Abu Dhabi’s economy, its role within Vision 2031 is evolving. The company is investing heavily in lower-carbon solutions including carbon capture, hydrogen production, and renewable energy integration. ADNOC’s strategy of maximizing value from hydrocarbons while investing in the energy transition directly supports the national goal of maintaining energy security while building a sustainable, diversified economy by 2031.

  • ADIA - Investment authority historically funded by ADNOC revenues
  • Sovereign Wealth Fund - Vehicles that deploy ADNOC-generated surpluses
  • Non-Oil GDP - The diversification metric ADNOC’s transformation supports
  • OPEC+ - The production alliance in which ADNOC participates