FOSSIL FUEL EXPANSION IN THE UNITED ARAB EMIRATES

The report details ADNOC's plans to increase oil production by 25% by 2030, identifying it as a major global expansionist whose activities are largely incompatible with IEA Net Zero scenarios. It highlights the involvement of international 'carbon majors' and banks in financing these projects, the use of carbon capture for enhanced oil recovery, and the threat posed to the Marawah Biosphere Reserve by the Ghasha Mega Project.

• ADNOC plans to increase its oil production by 25% by 2030. The company is identified as the 5th-largest oil and gas expansionist worldwide, with planned developments that would produce an additional 9 billion barrels of oil equivalent.
• More than 92% of ADNOC's planned expansion is incompatible with the International Energy Agency's (IEA) 2021 Net Zero Emissions by 2050 scenario, which assumes no new oil and gas assets should be approved after 2021. Consequently, ADNOC has the highest absolute overshoot of any company globally.
• The report argues that ADNOC's carbon capture efforts are insufficient and counterproductive. The Hail and Ghasha gas project aims to capture 1.5 Mtpa of CO2, but the burning of the produced gas would emit more than 20 times that amount. Additionally, the Al Reyadah CCUS facility uses captured carbon for enhanced oil recovery to extract more oil.
• ADNOC's expansion in the UAE is supported by 19 companies from 12 countries. The top expansionists besides ADNOC include Eni, INPEX, TotalEnergies, ExxonMobil, CNPC, Wintershall Dea, BP, OMV, and LUKOIL. TotalEnergies is involved in the most projects (9), while Eni holds the largest share of resources under development (622 mmboe).
• Between 2016 and 2022, ADNOC received US$ 14.1 billion in financing from 14 banks, with HSBC, MUFG, SMBC, and JPMorgan Chase as the largest financiers. In 2023, it obtained three new loans totaling US$ 2.3 billion, supported by Bank of China, ICBC, and Standard Chartered.
• Fossil fuel extraction is occurring in eight protected areas in the UAE, with five of the 17 upstream expansion projects located in these zones. Total reserves under protected areas amount to almost 7 bboe, with ADNOC owning approximately 30% (2036 mmboe).
• The Ghasha Mega Project, majority-owned by ADNOC and partnered with Eni, Wintershall Dea, OMV, and LUKOIL, partially overlaps with the Marawah Biosphere Reserve. This project threatens the second-largest dugong population in the world and other endangered species like the hawksbill and big green turtles.
• UAE-based companies are accused of 'carbon colonialism' through the acquisition of land in Africa for carbon offsetting. The company Blue Carbon has secured rights to forested land in five African nations, including a deal in late September 2023 where Zimbabwe's environment minister signed over control of nearly 20% of the country.

APA

Eldeen, F. E., Freudenberg, C., Ganswindt, K., Miomandre, L., & Ozkil, D. (n.d.). FOSSIL FUEL EXPANSION IN THE UNITED ARAB EMIRATES. Reclaim Finance. https://reclaimfinance.org/site/wp-content/uploads/2023/12/Joint_Report-ADNOC_and_Its_International_Partners_COP28.pdf

Chicago

Eldeen, Fatima Eisam, Clara Freudenberg, Katrin Ganswindt, Léa Miomandre, and Deniz Ozkil. FOSSIL FUEL EXPANSION IN THE UNITED ARAB EMIRATES. Reclaim Finance, n.d. https://reclaimfinance.org/site/wp-content/uploads/2023/12/Joint_Report-ADNOC_and_Its_International_Partners_COP28.pdf.

Wikipedia

{{cite report |last1=Eldeen |first1=Fatima Eisam |last2=Freudenberg |first2=Clara |last3=Ganswindt |first3=Katrin |last4=Miomandre |first4=Léa |last5=Ozkil |first5=Deniz |title=FOSSIL FUEL EXPANSION IN THE UNITED ARAB EMIRATES |publisher=Reclaim Finance |url=https://reclaimfinance.org/site/wp-content/uploads/2023/12/Joint_Report-ADNOC_and_Its_International_Partners_COP28.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{eldeenndfossil, author = {Eldeen, Fatima Eisam and Freudenberg, Clara and Ganswindt, Katrin and Miomandre, Léa and Ozkil, Deniz}, title = {{FOSSIL FUEL EXPANSION IN THE UNITED ARAB EMIRATES}}, institution = {Reclaim Finance}, url = {https://reclaimfinance.org/site/wp-content/uploads/2023/12/Joint_Report-ADNOC_and_Its_International_Partners_COP28.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }