UAE announces fuel prices for November 2020

Prices will remain unchanged for the eighth consecutive month

Abu Dhabi’s ADNOC grants $324m worth of contracts to optimise onshore field operations

The contracts also include the construction of a new bypass system to backup existing crude receiving stations at the Jebel Dhanna and Fujairah export terminals

Mohammed bin Rashid Al Maktoum Solar Park

Ducab HV secures cabling contract for MBR Solar Park in Dubai

The Phase 5 Project of the MBR Solar Park requires the use of approximately 275km of cable

Saudi chemicals maker SABIC posts profit as demand revives

Profit rose mainly due to the reversal of SAR690m of impairments associated with Clariant AG

Tabreed

UAE’s Tabreed issues new $500m 7-year bond

The bond has been rated Baa3 by Moody’s and BBB by Fitch

Abu Dhabi department of energy updates list of violations, fines for licensed entities

The updated roster has over 70 violations with fines ranging from Dhs2,000 through to Dhs10m

Rock-bottom solar prices trigger shift in UAE’s energy strategy

Lower solar prices may also spur the manufacturing of green hydrogen in the UAE

Aramco, Sabic to reassess $20bn crude-to-chemicals project

SABIC suspended new capital spending earlier this year as it reported losses in the first and second quarters

Abu Dhabi Pension Fund, ADQ invest $2.1bn in ADNOC infrastructure deal

ADNOC will divest 20 per cent in ADNOC Gas Pipelines HoldCo LLC

Top 10 countries with the world’s largest oil reserves

The oil market has been hit hard in 2020, with prices plummeting to record lows

Saudi Prince and Putin urge OPEC+ compliance as oil prices sag

While oil prices have more than doubled since OPEC+ began curbing supplies, Brent crude is still down 36 per cent this year

Abu dhabi global market

ICE to launch trading in Murban futures contracts in Abu Dhabi in Q1 2021

ICE had announced plans in November last year to launch the platform in partnership with ADNOC

Saudis raise oil prices for Asia in sign of market strength

The Organization of Petroleum Exporting Countries and allies including Russia are to meet on November 30-December 1 to review policy on production

Tabreed

UAE’s Tabreed to issue $1bn bonds

It will be issued in one or more tranches over the next 12 months

Oil steady near $39 after surge on optimism for US stimulus

People in China are vacationing during the Golden Week holiday, displaying the country’s confidence in its economic rebound and its public health measures

UAE exports 24.8% of Japan’s crude oil needs in August

Japan’s total crude oil import in August equalled 73.189 million barrels

Abu Dhabi’s ADNOC begins derivatives trading

The new offices of ADNOC’s trading entities are located in Abu Dhabi’s International Financial Centre

Saudi Arabia extends Covid salary aid programme in reduced form

The programme originally covered 70 per cent of Saudi employees in firms with over five workers

Saudi energy park SPARK achieves LEED certification

LEED certification ensures green techniques are applied to the construction of SPARK facilities

UAE announces fuel prices for October 2020

Prices will remain unchanged for the seventh consecutive month in October

UAE resumes spot on IAEA’s board

The UAE had previously held the seat from 2010-2012, from 2013 to 2015 and then again from 2016 to 2018

Countries need to invest $55 trillion to reach emissions target

Building renewable power plants will take up a bulk of the estimated investment

ADNOC Distribution launches three new stations in Dubai

The service stations are located at Jafaliya, Nad Al Sheba, and Studio City

Abu Dhabi’s ADQ expands utilities portfolio with addition of ENEC

The Abu Dhabi Executive Council issued a decree to transfer ENEC to ADQ’s ownership

Unit 1 of Barakah nuclear energy plant achieves 50% production capacity

This follows the synchronisation of Unit 1 to the national power grid in August

Oil holds losses near $40 amid deteriorating demand outlook

Prices jumped 10 per cent last week after Saudi Arabia indicated it would defend the market

ADNOC Mubadala ENEC

Abu Dhabi’s ADNOC signs agreement with Mubadala, ENEC to partner on In-Country Value programme

The ICV programme has already driven more than Dhs44bn ($12bn) back into the UAE’s economy and created over 1,500 private-sector jobs for Emiratis

Saudi firms start talks to form $11bn chemicals maker

Saudi Industrial owns 50 per cent of National Petrochemical

Abu Dhabi takes $615m stake in US LNG exporter

Houston-based Cheniere operates two export facilities: Corpus Christi in Texas and Sabine Pass in Louisiana

ADNOC CTO calls for digital transformation in energy sector

Alan Nelson joins other energy IT leaders in AVEVA discussion on digital transformation