ADNOC Greenlights SARB Deep Gas Project as Crude and Gas Prices Retreat

Abu Dhabi National Oil Company (ADNOC) has taken a final investment decision on the SARB Deep Gas Development, part of the wider Ghasha Concession offshore Abu Dhabi, underscoring the United Arab Emirates’ strategy to expand natural gas output for both domestic consumption and liquefied natural gas exports. The project, located about 120 kilometers offshore, will feature a new offshore platform with four gas production wells linked to Das Island for processing. The move is closely watched by investors in global hydrocarbons benchmarks such as Oil – Brent Crude, Oil – US Crude, and Natural Gas, as additional Middle East gas supply over time could influence regional pricing dynamics, LNG trade flows, and the competitiveness of gas versus oil in power generation and industry.

Over the past month, prices for Oil – US Crude have slipped about 4.15%, while Oil – Brent Crude has retreated roughly 3.83%, reflecting concerns about global demand, ample supply, and ongoing macroeconomic uncertainty despite structural investment in new upstream projects. The 1-day technical analysis points to a bearish short-term backdrop for both crude benchmarks, with Strong Sell and Strong Sell signals, respectively. In contrast, Natural Gas has fallen sharply by about 23.69% over the last month, highlighting current oversupply and seasonal demand softness, and its 1-day technical view is also negative with a Sell signal. Investors can explore more updates, prices, and analysis across global markets at Commodities.