UAE oil giant ADNOC pledges $55 billion in new projects by 2028: statement

The Abu Dhabi National Oil Company on Sunday pledged to spend $55 billion on new projects over the next two years, just days after the United Arab Emirates' officially left the OPEC oil cartel. The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British protectorate became an independent country.