Adnoc will also accelerate its target for raising crude output capacity to 5 million barrels a day by 2027
The first cargo is currently being shipped aboard the Pacific Sarah tanker
The company is planning to sell 50 million shares, or a nearly 30 per cent stake
Crude has declined this month, overturning the gains made in October
Saudi Aramco is aiming to sell 50 million shares – a 29.7 per cent stake – in the company
COP28, which will be hosted in 2023 at Expo City Dubai, will welcome high-level participation including over 140 heads of state and government leaders, 80,000 delegates and more than 5,000 media professionals
The purchase agreements with local and global manufacturers are valued at $11bn, and will reinforce supply chain resilience
The agreement builds on the Masdar-Turkmenistan MoU signed last year for development of renewable energy projects
The liquified natural gas will be supplied from QatarEnergy’s North Field East expansion project to Sinopec’s receiving terminals in China
Oil prices have weakened this month on concerns about demand
The law aims to achieve the UAE’s objectives in terms of diversifying renewable energy sources and optimally utilising natural resources
The acquisition supports the company’s accelerated fleet expansion and growth strategy
A consortium that includes Abu Dhabi’s Masdar and Infinity Power Holdings will finish building the 10-gigawatt onshore plant by 2030
Last year, ACX was recognised as the ‘Best Carbon Exchange’ in Environmental Finance’s prestigious Voluntary Carbon Market Rankings
Oil is trading near the lowest level since September
In 2015, Masdar delivered the Tafila wind farm in Jordan, which increased the country’s total power capacity by 3 per cent
A total of 26 memorandums of understanding have been signed for cooperation on projects
The announcement comes on the heels of the two companies powering the first net-zero flight using Sustainable Aviation Fuel (SAF) via a Book & Claim system
Much of the gas for Aramco’s blue hydrogen will come from Saudi Arabia’s massive Jafurah field
The group revenue increased by 13 per cent to total Dhs1.66bn for the first nine months of the year
There are now more than 125 gigawatts of clean power under contract to large companies around the world
TAQA’s Board of Directors also declared an interim cash dividend of Dhs675m
OPEC expects that it will need to pump an average of 28.92 million barrels a day of crude to satisfy demand during the fourth quarter
Construction of the $5bn plant in the north-west of the kingdom has started
The company’s non-fuel transactions increased by 18 per cent during the period
Oil has lost about a third of its value since early June on concerns over a global economic slowdown and aggressive monetary tightening by central banks
Abu Dhabi-based Masdar is leading a consortium that will build a 10-gigawatt wind plant in Egypt
With an aim to establish a first-of-its-kind manufacturing unit in Dubai, the agreement is part of the emirate’s strategy to become a sustainable global hub for green economy
Additional drilling operations are scheduled to be conducted during the next two years
The DoE’s regulatory framework is the first legally binding clean and renewable energy target in the Middle East for the electricity sector