The United Arab Emirates' state-owned oil company, Adnoc, plans to invest $150 billion over the next five years to boost its oil production capacity and expand its natural gas, chemicals, and clean energy operations. This is part of the UAE's strategy to increase hydrocarbon output while achieving net zero emissions by 2050. Adnoc will combine its LNG and gas processing arms into a new unit called Adnoc Gas, which will see a partial IPO in 2023. It also aims to raise its crude oil production capacity to 5 million barrels per day earlier than planned. Separately, Saudi Arabia's Acwa Power and PIF will build a record 2.1 gigawatt solar plant in Mecca,