The energy firm said the value of its gas unit can be enhanced by inclusion in wider market indexes and with a broader shareholder base
The deal, which expands the UAE’s efforts to become a key supplier of LNG, converts a preliminary deal signed in March to a definitive sales agreement
Covestro said in June it was stepping up talks with ADNOC after the UAE’s national energy company made an improved takeover bid
The LNG will primarily come from the state-owned energy firm’s lower-carbon Ruwais LNG project
The energy firm plans to expand Neuron 5’s application to all the group’s facilities across thousands of critical pieces of production equipment
The robust performance reinforces the companies’ foundation for sustained growth as they continue to execute individual strategies
ADNOC Distribution CEO Bader Al Lamki reveals the strategic pillars and innovative measures driving the company’s robust growth
The proposed complex is projected to produce 1.6 million tonnes per annum of speciality polyolefins
The state energy giant said it now has buyers lined up for 70 per cent of the plant’s 9.6 million-tonne annual production capacity
The exchangeable bonds were issued in May 2021 along with the offering of approximately 375 million shares in ADNOC Distribution
The state energy firm offloaded 880 million shares at Dhs3.90 apiece, approximately 70 per cent above the IPO price of Dhs2.30
The field has production capacity of up to 100 million standard cubic feet of gas per day
The announcement comes just ahead of a June 1 meeting in Vienna of the OPEC+ alliance
ADNOC will take a 4 per cent stake in Presight currently owned by G42, in exchange for 11 per cent of its shareholding in AIQ
The oil firm’s use of AI technologies abated up to one million tonnes of carbon dioxide emissions between 2022 and 2023
The company said it intends to nominate two representatives to the OMV supervisory board
The deal, which is subject to regulatory approvals, is likely to be completed in the second half of this year
The increased allocation will include investments to grow the company’s domestic and international carbon management platforms
The technology that could emerge from the cooperation would help support the companies’ customers in the Asia-Pacific region
The engineering, procurement and construction contract was awarded to Petrofac Emirates
The centre aims to emphasise the importance of research in guiding the UAE’s policies on climate change
The deal follows several significant international LNG sales agreements, including India Oil Corporation
Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review
The partnership will assess the joint development of direct air-capture plants in the UAE that can absorb carbon dioxide out of the sky
After a strong performance last year, the GCC region is set to see more activity in its capital markets in the medium term
The pilot programme will study how hydrogen with high-speed refuelling can best be used in mobility projects
The rigs will become operational in the fourth quarter of 2023
The partnership builds on ADNOC Group’s $15bn commitment towards decarbonisation projects by 2030
The location’s proximity to ADNOC’s current operations and its future growth projects were all important factors in the decision
The company’s unaudited combined pro forma results follow its record IPO earlier in March