Abu Dhabi announced a huge oil discovery on Sunday, which increased the UAE’s reserves by around 25 percent. Alongside the discovery, the capital of the UAE also pledged a massive investment into its state-owned Abu Dhabi National Oil Company (ADNOC). But what does this mean for the country and its place in the wider world?
(File photo: Reuters)
General view of the Natural Gas Liquids (NGL) facility in Saudi Aramco's Shaybah oilfield at the Empty Quarter in Saudi Arabia May 22, 2018. (Reuters)
An oil tanker approaches the jetty in Fujairah, United Arab Emirates in 2016. (File photo: The Associated Press)