ADNOC's Ambitious Energy Investment in the U.S.
ADNOC, the UAE state oil company, plans to increase its U.S. energy investments six-fold to $440 billion over the next decade. Sultan al-Jaber emphasized the strategic importance of the American market and highlighted AI as a crucial opportunity in this expansive investment strategy.
- Country:
- United States
The United Arab Emirates state oil company, ADNOC, is set to significantly expand its footprint in the American energy sector. The company's chief, Sultan al-Jaber, announced on Tuesday a six-fold increase in their U.S. energy investments, reaching $440 billion over the next ten years.
Speaking at an event in Washington, Jaber highlighted the strategic importance of the United States, referring to it as more than a priority; rather, it's an 'investment imperative' for ADNOC's future growth ambitions.
The ADNOC chief also pointed to artificial intelligence (AI) as a transformative opportunity within this expansive investment plan, labeling AI as a 'once-in-a-generation' prospect that the company intends to capitalize on extensively.
(With inputs from agencies.)
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