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The project is expected to run by the end of 2026 and supply more than 200,000 homes; Masdar and Khazna will also explore green data centres in Greece.
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Energy
Production including condensates rose by 400,000 barrels a day to a record, with crude above 4.4 million barrels a day, according to the International Energy Agency.
The UAE's total oil production, including condensates, rose by 400,000 barrels a day to a record 5.3 million barrels a day in September 2026, according to the International Energy Agency (IEA), World Oil reported on 14 October.
Crude output alone rose to more than 4.4 million barrels a day, close to the country's maximum capacity, the IEA said. The September figure for total oil beat the previous high set in August, and the crude figure beat the high set in June.
The UAE left OPEC with effect from May 2026, which freed it from the group's output caps. The IEA described the country as one of the region's most successful producers at restoring flows through the Strait of Hormuz, using a fleet of tankers to move cargoes through the strait and transfer them to other vessels.
Across the Gulf, producers' flows reached more than 75% of pre-war levels in September, led by Saudi Arabia. The IEA said it was unclear how much of the rebound had withstood new attacks on tankers in Hormuz and escalating hostilities by the Houthis in Yemen. The UAE's observable above-ground oil inventories fell at a record pace of more than 270,000 barrels a day to an all-time low.
Higher output supports government revenue and the hydrocarbon share of GDP, which fell in the second quarter. For companies in the energy supply chain, it also means steady demand for services, equipment and logistics from producers working near capacity.
Energy
The project is expected to run by the end of 2026 and supply more than 200,000 homes; Masdar and Khazna will also explore green data centres in Greece.