On 27th of November 1971, Abu Dhabi National Oil Company (ADNOC) was formed, aiming to operate in the industry of oil in Abu Dhabi. These operations include search and exploration of oil and gas, production, refinery, transport, distribution and export of the products internally and externally.  

To execute these responsibilities, ADNOC established a number of operating companies, oil fields supply and oil industry companies part of which are completely owned by ADNOC and others are joint venture operating companies in addition to other joint venture companies abroad. 

The Oil Supreme Council was formed in order to supervise the internal and external company affairs and to layout the oil policy in Abu Dhabi.