The Abu Dhabi National Oil Company (ADNOC) is a state-owned oil company of Abu Dhabi, United Arab Emirates, and is one of the world's largest energy producers by production. It is a diversified energy group wholly owned by the Abu Dhabi Government. ADNOC was founded in 1971 by Zayed Bin Sultan Al Nahyan to operate in all areas of the oil and gas industry and to harness the UAE's energy resources. Its creation allowed the Emirate to integrate and control its oil and gas industry, which was previously managed by Western oil companies.
ADNOC works across the entire hydrocarbon value chain, with a network of fully-integrated businesses covering exploration, production, storage, refining, and trading, as well as the development of petrochemical products. The company operates numerous subsidiaries, such as ADNOC Onshore for shallow coastal water and onshore operations, and ADNOC Gas Processing (formerly GASCO) for natural gas. It is a primary catalyst for the growth and diversification of the Abu Dhabi economy. ADNOC is connected to global energy markets and institutions, including joint ventures with international firms like Mitsui, BP, and Total in entities such as ADNOC LNG.
A significant recent change was announced on July 31, 2026, regarding its crude pricing mechanism. Effective November 1, 2026, ADNOC will transition from the previous ICE Futures Abu Dhabi-based pricing methodology to a prompt-month pricing methodology. This new mechanism, which applies to all Abu Dhabi crude grades including Murban, Das, Umm Lulu, and Upper Zakum, is based on the Platts Dubai benchmark plus an ADNOC-announced differential, aiming to align pricing more closely with the month of loading. The company is also heavily investing in technology, deploying an AI-enabled Real-Time Operations Center (RTOC) across its fleet of over 120 drilling rigs as of August 4, 2026.