UAE’S OIL & GAS INDUSTRY – A BIRD’S EYE VIEW

The paper portrays a bird eye view of UAE Oil and Gas – its past, present and future. The article gives reader a basic idea about UAE Oil and Gas: Upstream, Midstream and Downstream, Policies of Government for Diversification to Non-Oil Segments and Future Miles stones to be achieved. The article looks at the role played by ADNOC in the development of UAE's oil and natural gas industry. The Oil and Gas sector contributes 30% of country's GDP. Abu Dhabi in particular derives its revenues mainly from Oil and Gas. 60% of UAEs GDP owes to secondary sectors – Petro-chemical, Construction, Ship repair, Textiles etc. The export revenues from Oil & Gas are expected to be touching $ 65 Billion mark by the end of 2018 (20% of all exports). The share of export from Oil & Gas was $ 165 Billion in 2013 and has fallen drastically in the last 3 years due to decline in Oil prices. Methodology: The main source of information for this article was ADNOC Website and related articles on UAE's Oil & Gas industry