Oman transfers stake in biggest oil block to new energy firm

Energy Development Oman will hold the country’s 60 per cent stake in Block 6

ADNOC Abu Dhabi

UAE’s ADNOC appoints new managing director, restructures to form executive board of directors

Dr Sultan Ahmed Al Jaber has been appointed as managing director of ADNOC, in addition to his current position as CEO

UAE reveals fuel prices for March 2021

Petrol prices have witnessed an increase after 11 months

Sheikh Ahmed Zaki Yamani

Ahmed Zaki Yamani, Saudi’s long-serving oil minister, dies at 90

Yamani represented four Saudi kings at the Organization of Petroleum Exporting Countries

BFL Group

UAE’s Brands For Less Group (BFL) to develop 958KW solar power project

The project will generate around 1,600,000 kWh of solar energy, reducing BFL’s carbon footprint by 700 metric tonnes

Brent oil passes $65 with US crisis now a global supply shock

More than 4 million barrels a day of US oil output is now offline

Tabreed

Abu Dhabi-headquartered Tabreed’s net income rises 16.5% in 2020 to Dhs550m

Tabreed currently delivers over 1.404 million refrigeration tonnes to key developments across the UAE and Saudi Arabia

Brent oil rises toward $64 with power crisis hitting US supply

The combination of frigid temperatures and refinery closures has spurred a scramble for fuels

UAE’s ADNOC Distribution records Dhs2.4bn in net profit for 2020

During the year 2020, ADNOC Distribution opened 64 new stations

Brent oil extends advance toward $60 on tightening global market

Futures in London rose 0.9 per cent after capping a third weekly gain

UAE oil firm ADNOC gets $900m investment in property unit

Abu Dhabi Pension Fund is investing in some of ADNOC’s real estate assets

Oil jumps to one-year high with depleting supplies aiding rally

Futures in New York traded near $55 a barrel after jumping almost 5 per cent over the previous two sessions

Three important future trends to look out for in 2021

Countries need to tackle vulnerabilities in their economies, embrace innovation and move towards a more digital future

BMW EGA CelestiAL aluminium

BMW Group becomes first customer for UAE’s solar-powered CelestiAL aluminium

Using this aluminium from EGA will reduce BMW Group’s emissions by 222,000 tonnes of CO2 per year

china oman

BP sells Oman stake to Thai firm in $25bn divestment drive

The deal should help BP deliver on its goal of selling $25bn of assets by 2025

Dubai Financial market

Private utilities company Utico plans Dhs3bn listing on Dubai market in 2021

Utico is the UAE’s only private water and power company

UAE reveals fuel prices for February

Petrol prices will remain unchanged while the price for diesel has been cut

Saudi Arabia aims to become next Germany of renewable energy

The kingdom is working with many countries on green and blue hydrogen projects

Abraham Accords: Impact on talent synergies between the UAE and Israel

The relations between Israel and the UAE will have omnipresent long-term benefits through their similarities

Abu Dhabi Fund for Development ends 2020 with Dhs117.3m worth of projects

The projects injected 14.38MW into the electric grids of five partner countries

SABIC to shortlist Citi, Morgan Stanley for specialty chemicals IPO

SABIC hasn’t decided on a venue for the sale

Mohammed bin Rashid Al Maktoum Solar Park

UAE becomes world’s first country to produce aluminium using solar power

This solar-powered aluminium will be supplied to global customers under the new product name of CelestiAL

Abu Dhabi

Mubadala, ADNOC and ADQ form alliance to grow green hydrogen economy in the UAE

The alliance will develop a roadmap to create hydrogen production sites in Abu Dhabi and the UAE

Globe-trotters pledge to fly less to help climate

People now think giving up flying would be one of the easiest things they could do to cut their carbon footprint

Qatar raises carbon capture ambitions, touting green credentials

Qatar Petroleum will build facilities capable of storing more than 7 million tons per year of carbon dioxide by 2030

Saudi Aramco seeks $7.5bn loan for pipeline investors

The discussions are occurring in parallel with the sale of a stake in a pipeline unit

Saudi Arabia aims to raise over $5bn in bond-market return

No final decision on the timing has been made

Abu Dhabi raises February Murban crude pricing after Saudi boost

Abu Dhabi pumps almost all of the oil in the UAE

The cleanest fossil fuel is set for a post-pandemic rebound

Demand for the fuel used in heating and power generation is growing faster than for any other fossil fuel

Oil steady near $50 after surging on Saudi output cut

The kingdom’s pledge comes amid more stay-at-home orders and travel restrictions to rein in a surge of infections