UAE
News
July 05, 2023
The UAE is “doing enough” to contribute to the OPEC+ supply curbs, Energy Minister Suhail Al Mazrouei told reporters in Vienna. He noted the large difference between the nation’s current output — seen at 3.07 MMbpd last month, according to a Bloomberg survey — and its full capacity of 4 MMbpd.
News
June 21, 2023
The strategic alliance and rig acquisition will support DHS Ventures & Holdings target of reaching 75 MMbpd production capacity and gas self-sufficiency for the UAE by 2030, along with plans to unlock its unconventional oil and gas resources.
News
May 31, 2023
The agreements have enabled $774 million to flow back into the UAE economy through industrial investments by suppliers in expanding or establishing new facilities.
News
May 18, 2023
With the aim of being fully functional by year end, the new technology hub will be home to TGT’s scientific and engineering resources, research and development, information technology, software and AI development, manufacturing, maintenance, quality assurance, and headquarter functions.
News
May 16, 2023
Order books for the IPO, which could raise as much as $607 million at the top end, were covered throughout the range and indicated demand exceeded deal size, according to a message to investors seen by Bloomberg News.
News
April 13, 2023
ADNOC Drilling will provide IDS for the development of the Upper Zakum field, the largest producing field in ADNOC’s offshore portfolio.
News
March 03, 2023
Investors placed $124 billion of orders for a 5% stake in ADNOC Gas, an oversubscription level of more than 50 times.
News
March 03, 2023
The Wall Street Journal reported earlier that a growing rift with Saudi Arabia means the UAE is having internal discussions about quitting the producer group, a move that could potentially leave it free to lift output.
News
March 01, 2023
TotalEnergies acquired a 20% participating interest in the Satah Al Razboot, Umm Lulu, Bin Nasher and Al Bateel offshore concession. The company also acquired a 12.88% indirect interest in the Mubarraz concession.
News
February 27, 2023
Abu Dhabi National Oil Co. will now offer 3.84 billion shares, or a stake of about 5%, in ADNOC Gas, according to a statement on Monday. It was previously looking to sell 4%.
News
February 23, 2023
The order book opened on Thursday morning and is now fully covered, according to a message sent to investors and seen by Bloomberg. Several funds, including Abu Dhabi state-linked entities, committed $850 million as cornerstone investors. Among them were also Alpha Dhabi and International Holding Co.
News
February 20, 2023
Senate Republican Leader Mitch McConnell will meet with Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates, on Tuesday, according to people familiar with their plans.
News
February 17, 2023
Abu Dhabi National Oil Co. will offer a 4% stake in ADNOC Gas, formed through a merger of liquefied natural gas and gas-processing arms. The IPO will start on Feb. 23 and the final offer price will be on March 3, with trading slated to start 10 days later.
News
February 13, 2023
ADNOC Drilling’s revenue for the year increased to $2.67 billion, up a robust 18% compared to 2021. Year-on-year revenue growth was led by the Onshore and Oilfield Services (OFS) segments, while all segments achieved positive year-on-year performance as the company enables ADNOC’s accelerated production capacity target of 5 MMbpd by 2027.
News
January 19, 2023
The project, which is expected to begin injecting CO2 in Q2 2023, marks another important step in ADNOC’s commitment to decarbonize its operations, reduce its carbon intensity by 25% by 2030 and deliver on its net zero by 2050 ambition.
News
January 17, 2023
Masdar has signed joint development agreements with the State Oil Company of the Republic of Azerbaijan for onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a total combined capacity of 4 gigawatts.
News
January 17, 2023
The project, due to commence in January 2023, will use 44.01’s Earthshot prize-winning Carbon Capture and Mineralization technology to eliminate CO2 from the atmosphere. It will be the first CCM project by an energy company in the Middle East.
News
January 13, 2023
The parties will join their efforts to develop a green hydrogen supply chain, focusing on production in Abu Dhabi and export to the Netherlands through the port of Amsterdam.
News
January 12, 2023
Al Jaber’s appointment may be controversial for many in the climate world because he is the chief executive officer of Abu Dhabi National Oil Co. The company pumps almost all the crude in the UAE, which produces about 3.2 million bopd.
News
January 10, 2023
The flagship company combines ADNOC’s gas process and LNG business’ operations, maintenance and marketing into one global market-leading consolidated business.
News
January 05, 2023
ADNOC will make the investments, according to the government. The state-owned company will look at international partnerships and carbon capture to expand a cleaner-energy unit established last year.
