sabic

SABIC is said to weigh IPO of specialty chemicals business

SABIC reported its biggest quarterly loss in at least a decade in the three months through June

Saudi Arabia’s Acwa Power set to raise $1bn in sukuk sale

The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan

Abu Dhabi confirms massive oil discovery, set to add Dhs160bn to the UAE’s economy

The Supreme Petroleum Council gave approvals for ADNOC to award exploration blocks in Abu Dhabi’s second competitive block bid round

World’s biggest oil firm Saudi Aramco sells $8bn in bonds

Aramco sold $8bn in tranches maturing in three, five, 10, 30 and 50 years

Aramco turns to bonds to help fund $75bn dividend

The yield on Aramco’s $3bn of bonds due in 2029 has dropped to 2.09 per cent from 3.04 per cent at the start of the year

Mapping the future for energy trading organisations

A global health emergency and collapse in crude oil prices have ratcheted up the pressure to address the sector’s critical challenges: efficiency, agility and growth

Eco-friendly pot

Revealed: 10 simple steps to lead a greener life in Dubai

A practical guide to lowering your carbon footprint

Saudi oil giant pitches gas to China in cleaner-fuels push

Aramco is the world’s largest oil exporter

Oil extends gains on signs OPEC+ edging toward keeping cuts

The producer group is considering keeping additional supply off the market for three to six months

Abu Dhabi to start trading crude futures from March

Murban crude, pumped from onshore fields, comprises more than half of the country’s output

Oman seeks to raise billions by leveraging biggest oil block

The sultanate plans to transfer its 60 per cent stake in Block 6 from Petroleum Development Oman to a new company

UAE oil reserves total 97.8bn barrels in 2019

Natural gas production in the UAE reached 109.8 billion cubic feet in 2019

Technology

Abu-Dhabi’s G42 signs agreement with AIQ and Schlumberger for AI solutions in oil and gas industry

AIQ data scientists will develop AI modelling and supercomputing solutions using Schlumberger’s open cloud-based software platforms

DEWA

DEWA opened 20 electricity substations in Dubai this year at a cost of Dhs2.6bn

DEWA’s total investments in power transmission has reached Dhs11.2bn

Dubai’s ENOC Group launches rewards programme

The app-based rewards programme offers points for purchase at all ENOC retail sites including fuel

How diversification can ensure sustainable growth in the GCC

Credit downgrades and double-digit deficits poses challenges for regional countries that are not diversifying their economies

oil-big7

US elections: Gold drops, oil rises as results show tight race

Markets have been volatile during the final weeks of the campaign as investors fretted over the potential for a contested outcome

Saudi Aramco maintains dividend despite 45% slump in profit

Income still increased for the first time in five quarters as oil prices steadied

Dubai’s Alcazar Energy weighs sale, green bond as part of review

The company had begun reviewing its options at the start of the year

UAE-Japan

Japan imports nearly a third of its crude oil in September from the UAE

Japan imported a total of 64.212 million barrels of crude from around the world in September

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