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Devils' Dune oil field in Abu Dhabi

The UAE’s oil and gas investment spree

In 2018, the United Arab Emirates launched a five-year spending plan of more than $130 billion to overhaul its oil and gas sector, ultimately aiming to become gas self-sufficient. The increase in production could result in a larger share of the oil market, but only if environmental concerns do not cause a sharp drop in demand for petrochemical products.

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