#ADNOC

ADNOC Distribution reports net profit of Dhs1.56bn in H1 2022

ADNOC Distribution reports net profit of Dhs1.56bn in H1 2022

ADNOC Distribution accelerated its growth strategy throughout H1 2022, with the opening of 12 new stations in the UAE

Abu Dhabi Fertiglobe

Abu Dhabi’s Fertiglobe delivers revenue growth of 105% to $1.471bn

The fertiliser company, a joint venture between ADNOC and OCI, reported that its free cash flow increased to $789m in Q2 2022 from $328m in Q2 2021

ADNOC Second-Gas-Discovery

ADNOC announces second gas discovery from Offshore Block 2 Exploration Concession

According to ADNOC, the discovery from a new deeper reservoir indicates between 1–1.5 trillion standard cubic feet of raw gas

Borouge announces strong revenue growth of 16.4% YoY

Borouge announces strong revenue growth of 16.4% for H1 2022

Borouge reported that the adjusted EBITDA increased 1.7 per cent to $1,512m, whilst net income increased 2.5 per cent to $853m

ADNOC Drilling confirms $2bn in contracts for Hail, Ghasha Gas Development Project

ADNOC Drilling confirms $2bn contract award for Ghasha mega project

The contracts are valued at $1.3bn for Integrated Drilling Services and $700m for the provision of four island drilling units

Borouge 4 construction to commence in Ruwais

Borouge 4 construction to commence in Ruwais, early phase underway

Upon completion, the new project will add an additional 1.4 million tonnes of polyethylene

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

Aurora50 report: gneder diversity has doubled on boards in UAE

Gender diversity on the rise across UAE boards, reveals Aurora50 report

Research undertaken by Aurora50 in collaboration with Mohammed Bin Rashid School of Government revealed that the number of listed board seats held by women in the UAE has more than doubled in two years

Hub71 AIQ

Abu Dhabi’s Hub71, AIQ partner to accelerate AI-driven transformation of the energy industry

The collaboration will see both companies accelerate the development of digital technologies to unlock greater value from oil and gas operations

Adnoc borouge

ADNOC delivers fourth consecutive record-setting IPO on ADX

The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed

ADNOC

Abu Dhabi’s ADNOC, Masdar deepen partnership with BP

ADNOC, BP and Masdar also agreed to explore the production of sustainable aviation fuels in the UAE

IPO

Offer price for Abu Dhabi’s largest ever listing set at Dhs2.45 per share

The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022

ADNOC

ADNOC begins process to list Borouge on Abu Dhabi Securities Exchange

It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis

TA’ZIZ, Reliance Industries Limited

UAE’s Ta’ziz, Reliance sign agreement for Ruwais chemicals project

These chemicals will be produced in the UAE for the first time creating new revenue streams and opportunities for local manufacturers

Adnoc

Adnoc, Borealis seek $2bn from IPO of plastics JV

The state-owned energy company and Austrian chemicals producer plan to sell a 10 per cent stake in their Borouge plastics unit by the end of the quarter

ADNOC, FAB execs named ME’s top brand guardian CEOs

Brand Finance named Middle East CEOs Dr. Sultan Ahmed Al Jaber, Hana Al Rostamani and Olayan Mohammed Al Wetaid in its Brand Guardianship Index

uae Adnoc

UAE’s ADNOC L&S to acquire two new-build LNG vessels built in China

Each vessel will have a capacity of 175,000 cubic metres – enough to power 45,000 homes for a year

ADNOC

Abu Dhabi’s ADNOC signs agreements with German companies to collaborate on clean hydrogen

The partnerships build on ADNOC’s position in Asian clean hydrogen markets

ADNOC

UAE’s ADNOC awards agreements worth Dhs2.4bn to support upstream growth

Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme

Borouge starts up fifth polypropylene unit in Ruwais

The new facility will increase Borouge’s polypropylene production capacity by more than 25 per cent to 2.24 million tonnes per year

ADNOC awards framework agreements worth $1.94bn to boost drilling

The framework agreements cover ADNOC’s onshore and offshore fields and will run for five years with an option for an extension

Fertiglobe announces $340m dividend after Q4 2021 results

The company, a joint partnership between Abu Dhabi’s ADNOC and the Netherlands-based OCI, reported a revenue rise of 113 per cent to $3.31bn in 2021

ADNOC, Borealis hiring banks for IPO of plastics joint venture

Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems

ADNOC

UAE’s ADNOC mulls sale of green bonds as it seek ESG funds

The UAE became the first Gulf state to commit to neutralising planet-warming emissions within its borders, which it aims to do by 2050

Abu Dhabi’s ADNOC announces discovery of new natural gas resources offshore

Estimates indicate that the reserve of raw gas discovered is between 1.5–2 TSCF

ADNOC

UAE oil producer ADNOC may aim for $5bn of bonds this year

Crude has surged around 14 per cent this year to more than $85 a barrel

Abu Dhabi’s ADNOC fastest growing oil and gas brand globally

Etisalat was also named the strongest telecom brand globally

UAE’s top oil producer forms entity to sell bonds for first time

ADNOC said the new entity “intends to closely monitor market conditions and explore potential funding opportunities”

UAE security

UAE says it “reserves right to respond” to Houthi militia attack in Abu Dhabi

The UAE added that those responsible for the targeting of its civilian facilities on Monday will be held accountable

Abu Dhabi’s ADNOC, Taqa announce $3.6bn project to decarbonise offshore operations

The project is expected to reduce the carbon footprint of ADNOC’s offshore operations by more than 30 per cent