ADNOC signs $7-9bn 14-year LNG deal with India

ADNOC Gas agrees $7-9bn 14-year LNG deal with India

The landmark LNG deal was signed during Prime Minister Narendra Modi’s official visit to the UAE last week

Polypropylene

Masdar, MCG, INPEX to explore commercial-scale polypropylene production

Polypropylene, a type of plastic material, is used to manufacture everyday items such as bottles, jars and food packaging

ADNOC to open high-speed hydrogen refueling station

ADNOC to build Middle East’s first high-speed hydrogen refuelling station

The pilot programme will study how hydrogen with high-speed refuelling can best be used in mobility projects

ACWA Power

Saudi’s ACWA Power granted land for 10GW wind project in Egypt

The power plant is expected to provide the Egyptian economy with $6.5bn in savings in annual natural gas costs and create up to 120,000 job opportunities

Mubadala Energy and Masdar Collaborate on Decarbonization and Energy Transition Initiatives image Mubadala Energy

Mubadala Energy, Masdar to collaborate on decarbonisation projects

The companies will look at developing technical solutions to decarbonise or improve the energy efficiency of upstream oil and gas assets among other initiatives

commodity

Five key charts to watch in global commodity markets this week

The global oil market, climate change, Ukraine’s grains exports and the aluminium sector are among the top commodity markets to keep an eye on this week

Masdar and Iberdrola leaders discuss global renewable energy growth Image Masdar

Masdar, Iberdrola discuss bolstering renewable energy growth

Dr Sultan Al Jaber, Masdar chairman and COP28 President-Designate, has been meeting global leaders to build consensus toward solutions that can deliver an equitable energy transition

Digital DEWA strengthens partnership with Huawei

Digital DEWA bolsters partnership with China’s Huawei

The two entities agreed to enhance the collaboration in the energy sector, transmission and distribution communication networks

PIF and Engie sign Mou to build hydrogen projects in Saudi Arabia

Saudi Arabia: PIF, ENGIE to jointly develop hydrogen projects

The two parties will jointly formulate a strategy to best approach the international market and secure offtake arrangements

OPEC

OPEC oil export revenue was highest in almost a decade last year

OPEC+ nations are engaged in production cuts to balance prices in crude markets

Abu-Dhabi based Multiply Group invest in EIG GettyImages-1331237787

Abu Dhabi-based Multiply Group invests $100m in EIG’s Breakwater Energy

This investment comes under Multiply+, the group’s sector-agnostic arm

RENEWABLE ENERGY

EWEC meets 80% of Abu Dhabi power demand with renewable sources for first time

EWEC is accelerating the implementation of Abu Dhabi’s energy transition to reduce reliance on hydrocarbons and meet its energy demand through renewable sources

Oil production to be hit after Saudi Arabia announces cuts. Image: Getty Images

Hot summer in the crude oil market as Saudi Arabia’s production cuts kick in

Across the world, where varieties of crude more closely resemble those from Saudi Arabia, prices are shooting up as refineries clamour for alternatives

EWEC secures four bids for 1,500MW Al Ajban solar project

UAE’s EWEC secures four bids for 1,500MW Al Ajban solar park

The solar farm will generate enough electricity to power approximately 160,000 homes across the UAE

ENOC Qatarenergy sign agreement Image Dubai Media Office_Enoc

UAE’s ENOC Group, QatarEnergy ink 10-year condensate supply deal

The agreement allows the companies to further raise the condensate volumes

energy

Saudi Arabia, France sign MoU in energy

The energy cooperation framework aims to advance production of hydrogen and electricity using renewable sources

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

Voluntary oil supply cuts enough to balance the market: UAE

The UAE will not be undertaking oil supply production cuts even as Saudi Arabia looks to balance the markets

electric car

Oil is hard to quit, even in Norway where electric cars rule the road

The International Energy Agency says the rest of the world is going the way of the electric car, bringing peak oil demand before the end of the decade

low-carbon

How energy companies can prepare themselves for the low-carbon era

Low-carbon solutions are products, services and technologies with a small carbon footprint that can serve as alternative energy sources

FIVE Jumeirah Village (Image: Supplied by FIVE Hotels and Resorts)

FIVE obtained 100 per cent renewable electricity for Dubai hotels in 2022

It has become the first hotel operator in the UAE to receive International Renewable Energy Certificates

oil

Oil holds gain as traders turn focus to decline in inventories

West Texas Intermediate traded just below $72 a barrel

BARAKAH

Barakah One completes refinancing of Barakah plant

The KEXIM loan facilities were refinanced through a competitive market process resulting in the selection of two banks, ADCB and FAB

UAE updates energy strategy, to invest 54.5bn in renewables

UAE updates energy strategy, to invest $54.5bn in renewables

The strategy aims to triple the contribution of renewables to the country’s energy mix by 2030 to reduce the effects of climate change

ADNOC Gas awards natural gas pipeline contracts worth $1.34bn

ADNOC Gas awards natural gas pipeline contracts worth $1.34bn

The pipeline extension will drive further growth as part of the company’s strategy to increase its market share and enhance its customer base

UAE raises petrol prices for July 2023

UAE increases petrol prices for July 2023

The cost of petrol has slightly increased following a small reduction last month

ADNOC Drilling secures $2bn offshore jack-up contracts

ADNOC Drilling secures $2bn offshore jack-up contracts

The drilling company said the awarding of the contracts follows more than $11.5bn in long-term contracts announced since the beginning of 2022

coal

Big oil’s green retreat helps clear the way for everyone else in renewables

The exits of some players may make it easier for renewable energy companies to raise prices to a sustainable level and to ramp up investment

Aramco, TotalEnergies award contracts for $11bn Amiral project

Aramco, TotalEnergies award contracts for $11bn petchem complex

The awarding of the contracts marks the start of construction work on the petrochemical facility

red sea

Can a global fee on oil imports help address climate damages?

Countries that import the most oil will have to make the biggest contribution to the fund

Princeton Digital Group

Princeton Digital Group, Tata Power join forces for renewable energy supply to Indian data centre

The partnership aims to provide eco-friendly electricity to PDG’s data centre in Mumbai for a period of 25 years