Oil is up 40 per cent this year as the recovery from the pandemic in the US, China and parts of Europe boosts the outlook for fuel consumption
The energy generated will be used to power the car parking facility, with excess energy fed to other sections of the Abu Dhabi International Airport
According to the agreement with ACWA Power, Neutral Fuels biofuel is set to power the site’s entire transportation network
The green hydrogen will be fed into the fuelling station to power hydrogen vehicles
Oil is poised for a second straight monthly gain as the US, China and parts of Europe lead a robust demand recovery from the Covid-19 pandemic
This is the fourth consecutive month that fuel prices have increased within the country
OPEC+ ministers are due to meet June 1 to consider the state of the market and the group’s production policy
ACWA has proposed various projects in South Africa, from a coal-fired plant to a solar and battery project
The development will enable the Belbazem Offshore Block to achieve a crude oil production capacity of 45,000 bpd, and is expected to be operational by 2023
Talks between Iran and world powers will continue in Vienna this week to resolve outstanding issues
Bader Saeed Al Lamki will commence his role on May 27, 2021
Some analysts estimate Iran could return to pre-sanctions production of almost 4 million barrels a day in as little as three months
The project may cost around $30bn
As of February 2021, the number of electric cars in Dubai has increased to 2,473
Oil has managed to break out from a tight range near $60 a barrel and resume its upward momentum
The fuel retailer will now be among nine UAE-listed companies to be part of the index
ADNOC is looking to sell a minority stake in its drilling unit in a deal that could value the business at up to $10bn
Brent crude has gained over 30 per cent this year to top $68 a barrel
Arabian Drilling may complete a deal on Riyadh’s stock exchange before the end of the year
The official selling price for Murban is determined based on futures trading on the ICE Future Abu Dhabi exchange
Consumption may also get a boost when China breaks for an extended holiday on Saturday
Revenue rose 24 per cent year-on-year to SAR37.5bn and 14 per cent from the previous quarter
The diesel price for next month has been reduced
OQ is tapping the international bond market for the first time in an issuance aimed at raising at least $500m
The global oil market recovery is being driven by China and the US, with positive signs emerging from parts of Europe
The kingdom has no plans to introduce an income tax, Prince Mohammed confirmed
DSI is also bidding for a Dhs260m project in Kuwait and for projects valued at Dhs1.49bn in Iraq
The company could be valued at about $7bn including debt in the listing
The company is also conducting a strategic review of its upstream business
The Abu Dhabi fund would make the acquisition through its energy arm