UAE and France sign a Comprehensive Strategic Energy Partnership

UAE and France sign two significant energy agreements, launch Business Council

In addition to the CSEP signed by the two nations, ADNOC and TotalEnergies inked a strategic partnership agreement to explore new opportunities for growth across the energy value chain

DEWA’s IPP projects enhance promising investments flow to UAE, Dubai

DEWA launches 11 substations worth Dhs1.715bn, IPP projects attract $10.9bn

The total value of DEWA’s investments between 2021 and 2024 is Dhs10bn

Oil

Oil declines as traders weigh mideast supply after Biden trip

Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets

Oil

Oil set to end volatile week below $100 on slowdown concerns

West Texas Intermediate tumbled below $91 a barrel on Thursday

ADFD, ADEX sign two loan agreements worth Dhs337.9m in Bahrain

ADFD, ADEX sign two loan agreements worth Dhs337.9m in Bahrain

The agreements were signed with the Electricity and Water Authority in Bahrain

Oil

Oil price drops as surging inflation escalates slowdown concerns

Demand for motor fuel plunged last week to the lowest seasonal level since 1996

Oil losses

Oil extends losses after tumbling below $100 on demand concerns

West Texas Intermediate futures fell for a third session to its lowest level in three months

Oil

Oil extends drop as concerns over economic slowdown grip market

Crude has tumbled since early June on escalating fears of a slowdown as central banks raise rates to combat rampant inflation

Israel

Calev’s newsroom: Energy cooperation between UAE and Israel

The future of energy cooperation between the two countries holds great potential for mutually beneficial partnerships

Abu Dhabi Colombia

Abu Dhabi, Colombia collaborate to boost energy sector

The Abu Dhabi Department of Energy and Ministry of Mines and Energy of Colombia will explore opportunities for financing projects in energy areas including use, and storage of hydrogen

Oil sinks again on recession concerns and rising US stockpiles

West Texas Intermediate fell below $98 a barrel and has shed about 10 per cent so far this week

OPEC secretary general, Mohammad Barkindo, passes away

He assumed the position of secretary general in August 2016

Saudi Arabia raises oil prices for Asia with demand holding up

Saudi Arabia sends more than 60 per cent of its crude exports to Asia

Dragon Oil signs ten additional years of partnership with Turkmenistan

Dubai’s Dragon Oil signs ten-year extension with Turkmenistan

The company’s investments during the contract extension period is expected to reach another $7-8bn

Oil

Oil holds above $110 as tight supply balanced by recession risk

Oil has started the third quarter in strong form after dropping in June

DEWA adds 700MW of energy production capacity, totalling 14,117 MW, with 1,627 MW from renewable energy

Dubai’s DEWA adds 700MW of energy production capacity

The clean energy share in Dubai’s energy mix has reached 11.5 per cent and is expected to reach 14 per cent by the end of 2022

Oil heads for worst run of losses this year on recession concern

Oil fell about 8 per cent in June as investors fretted over a potential global slowdown

Petrol prices

UAE raises fuel prices for July 2022

The price of Super 98 has risen to Dhs4.63 per litre

Oil

Oil set for first monthly decline this year before OPEC+ meeting

Oil is still up around 45 per cent this year as the global economic recovery coincided with upended trade flows

UAE presents National Report on Spent Nuclear Fuel, Radioactive Waste Management

UAE presents national report on nuclear fuel, radioactive waste management

The report describes the legislative and regulatory measures taken by the UAE to meet its obligations in relation to the Joint Convention held in Vienna

QatarEnergy

QatarEnergy vows to erase almost all methane emissions by 2030

The Qatari company has signed up to the Aiming for Zero Methane Emissions Initiative

DEWA launches automatic smart grid restoration system

Dubai’s DEWA launches automatic smart grid restoration system

The system improves grid automation, fault detection, retrieval of connections and supports DEWA’s efforts to maintain supplies

W Solar Libya mou investment in renewable energy sector

Abu Dhabi’s W Solar to invest in Libya’s renewable energy sector

The Alpha Dhabi subsidiary will build solar photovoltaic power generation plants in Libya and sell the net delivered energy to the Libyan government

hydrogen

UAE government team to visit Germany for talks on hydrogen

German and Emirati companies signed memorandums of understanding in March for shipments from the Gulf state of blue hydrogen in the form of ammonia

Tom De Waele, Managing Partner, Bain & Company Middle East 

Five steps that Middle East companies can take to reduce carbon footprint

To translate ambition into delivery, companies need to adopt a mindset that we call visionary pragmatism and get five things right

bu Dhabi Securities Exchange lists $8.25 billion of TAQA bonds

Abu Dhabi’s ADX lists Taqa bonds valued at $8.25bn

The bonds were largely issued as part of TAQA’s Global Medium Term Note Programme and are listed on the London Stock Exchange

Oil markets

Oil declines as slowdown risks weighed against robust demand

Oil markets remain in backwardation, a bullish pattern that’s marked by near-term prices trading above longer-dated ones

Qatar Doha

QatarEnergy selects ExxonMobil as 4th partner in gas project

ExxonMobil will own 25 per cent of a joint venture with QatarEnergy, with the venture in turn holding 25 per cent of the North Field East project

Abu Dhabi Fertiglobe

Abu Dhabi’s ADNOC, TAQA, Mubadala enter agreements to acquire Masdar stakes

ADNOC will hold a 43 per cent controlling stake in Masdar’s new green hydrogen joint venture, Mubadala will retain a 33 per cent interest, and TAQA will hold a 24 per cent stake