Abu Dhabi National Oil Co. plans to increase the United Arab Emirates' U.S. energy investment from $70 billion to $440 billion over the next decade, CEO Sultan Al Jaber said during U.S. President Donald Trump's visit to the Gulf.
The announcement came alongside a reciprocal $60 billion commitment from U.S. companies to develop energy projects in the UAE. Exxon Mobil (XOM, Financials), Occidental Petroleum (OXY, Financials), and EOG Resources (EOG, Financials) will participate in offshore, gas, and exploration projects in Abu Dhabi.
The UAE's $440 billion energy pledge forms part of a broader $1.4 trillion investment commitment to the U.S., which also includes artificial intelligence, semiconductors, and manufacturing. As part of the agreement, the UAE secured access to advanced U.S. AI chips.
ADNOC's international arm, XRG, will lead the U.S. expansion with a focus on gas, LNG, and specialty chemicals. XRG signed a framework deal with Occidental's 1PointFive to evaluate a carbon capture facility in Texas and now holds stakes in NextDecade's Rio Grande LNG and an Exxon hydrogen plant.
Mubadala Energy, tied to Abu Dhabi's second-largest sovereign wealth fund, also expanded into U.S. gas assets through a partnership with Kimmeridge.
The White House described the bilateral commitments as critical for energy security and global infrastructure development. Trump praised the UAE's growing AI ambitions, calling the semiconductor agreement “a very big contract.”
