ADNOC Group AlRuwais plant

ADNOC Group to build new low-carbon LNG plant in Ruwais

The location’s proximity to ADNOC’s current operations and its future growth projects were all important factors in the decision


ADNOC Gas, TotalEnergies Gas and Power ink 3-year LNG supply deal

The three-year contract is expected to commence in 2023 and will run through 2025

Oil extends second weekly drop on new China recovery concerns

West Texas Intermediate futures slipped 0.7 per cent, after rallying 2.7 per cent on Friday

UAE increase petrol price

UAE raises fuel prices for May 2023

The fuel price committee marginally increased petrol prices by 15 fils for the month of May


Oil set for sixth monthly loss on deteriorating demand outlook

West Texas Intermediate steadied near $75 a barrel after closing 0.6 per cent higher on Thursday

air pollution

Less than 1% of Earth has safe levels of air pollution, study finds

While scientists and public health officials have long been at alert to the dangers — air pollution kills 6.7 million people a year

TAQA invest in clean energy startup

TAQA joins $37.3m funding round for clean energy startup Xlinks

Xlinks will use the proceeds to undertake the development of plans to lay the world’s longest high-voltage direct current subsea cables between the UK and Morocco

ACWA Power’s Egypt solar project secures $123m financing

The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP


Oil extends steep weekly drop with demand outlook in question

West Texas Intermediate fell toward $77 a barrel after dropping the most since the banking crisis in March last week

energy efficiency

How important is it for businesses to prioritise energy efficiency?

It is vital to help stakeholders across the industry understand that we need to invest to reach net zero, says Ahmed Radwan, lead business manager – MEA – Motion Business at ABB


Oil set for first weekly loss since banking turmoil last month

West Texas Intermediate futures dipped toward $77 a barrel and are more than 6 per cent lower this week

Empower modernise JBR plant

Empower to invest $27.8m to upgrade JBR cooling plant

The upgrade will contribute to achieving savings in energy, increasing efficiency and significantly reducing carbon emissions

TAQA power generation

Abu Dhabi’s TAQA sells $1.5bn in dual-tranche bonds

Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework

Mubadala to invest in Brazil

Mubadala commits to invest $2.5bn in clean fuel in Brazil

The investment will be made through the company’s Acelen unit in Brazil and the company expects to start production in the first quarter of 2026

Saudi Arabia tranfer Aramco stake

Saudi Arabia transfers 4% Aramco stake to PIF

The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares


Oil powers to fourth weekly advance as global market tightens up

West Texas Intermediate remainder above $82 a barrel, taking its weekly advance to about 2 per cent and the longest winning run since June

ADNOC Drilling platform

ADNOC Drilling secures $412m contract to develop Upper Zakum oilfield

The contract will enable the efficient delivery of completion services at Upper Zakum field and adds 20 per cent to annual revenue compared with 2022


ADNOC L&S expands fleet with five very large gas carriers

The carriers have dual-fuel engine technology and use liquified petroleum gas as their primary fuel source


Oil trades near highest close in five months as market tightens

West Texas Intermediate traded above $83 a barrel after advancing by 4.4 per cent over the prior two days

TAQA Group CEO and managing director, Jasim Husain Thabet

UAE utility firm TAQA sets up green finance framework

The Abu Dhabi-listed firm said proceeds from the issuances will be used to finance eligible green projects including renewable energy

Big Beau project

Abu Dhabi’s Masdar acquires stake in Big Beau project, expands US presence

It is one of eight projects that Masdar and EDF Renewables have agreed to jointly partner in, with a combined capacity of 1.6 gigawatts

Oil steadies after surge with supplies and stockpiles in focus

West Texas Intermediate traded above $81 a barrel after rallying by 2.2 per cent on Tuesday


Oil holds loss as stronger US dollar, slowdown concerns weigh

West Texas Intermediate traded below $80 a barrel after closing 1.2 per cent lower on Monday

Masdar solar projects in Uzbekistan.

Masdar secures funding for three solar projects in Uzbekistan

The projects have a combined capacity of around 900 MW and they will power more than one million homes

TotalEnergies, Iraq deal

Iraq, TotalEnergies to proceed with $27bn energy project

The energy project aims to recover flared gas on three oil fields in order to supply power plants and build a seawater treatment plant to increase oil production

Opec fund Acwa Power loan agreement for wind farms

OPEC Fund, ACWA Power sign $40m loan deals to build wind farms in Uzbekistan

The loans will support the construction and operation of the 500MW Dzhankeldy wind farm and the 500MW Bash wind power plant in Uzbekistan

ADNOC Onshore Drilling Rig

Abu Dhabi’s ADNOC Drilling approves $341m dividend

The shareholders’ approval brings the total full-year 2022 dividend to 15.67 fils per share or $682.5m

Empower plant

Shareholders of Dubai’s Empower approve $116m dividend

The company’s full-year net profit jumped by 7 per cent year-on-year to Dhs1bn in 2022 while its revenues reached Dhs2.8bn

UAE reduces fuel prices

UAE reduces fuel prices for April

The fuel price committee marginally slashed the rates by 8 fils per litre, after two consecutive months of increases

ADNOC GAS processing tanks

ADNOC Gas’ annual pro forma net profit surges by 37%

The company’s unaudited combined pro forma results follow its record IPO earlier in March