The contract was awarded to ADNOC Logistics & Services, which will provide 13 self-propelled jack-up barges to be deployed across ADNOC’s offshore fields
ADNOC Distribution accelerated its growth strategy throughout H1 2022, with the opening of 12 new stations in the UAE
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
According to ADNOC, the discovery from a new deeper reservoir indicates between 1–1.5 trillion standard cubic feet of raw gas
Borouge reported that the adjusted EBITDA increased 1.7 per cent to $1,512m, whilst net income increased 2.5 per cent to $853m
The contracts are valued at $1.3bn for Integrated Drilling Services and $700m for the provision of four island drilling units
Upon completion, the new project will add an additional 1.4 million tonnes of polyethylene
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
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
The collaboration will see both companies accelerate the development of digital technologies to unlock greater value from oil and gas operations
The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed
ADNOC, BP and Masdar also agreed to explore the production of sustainable aviation fuels in the UAE
The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022
It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis
These chemicals will be produced in the UAE for the first time creating new revenue streams and opportunities for local manufacturers
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
Brand Finance named Middle East CEOs Dr. Sultan Ahmed Al Jaber, Hana Al Rostamani and Olayan Mohammed Al Wetaid in its Brand Guardianship Index
Each vessel will have a capacity of 175,000 cubic metres – enough to power 45,000 homes for a year
The partnerships build on ADNOC’s position in Asian clean hydrogen markets
Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme
The new facility will increase Borouge’s polypropylene production capacity by more than 25 per cent to 2.24 million tonnes per year
The framework agreements cover ADNOC’s onshore and offshore fields and will run for five years with an option for an extension
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
Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems
The UAE became the first Gulf state to commit to neutralising planet-warming emissions within its borders, which it aims to do by 2050
Estimates indicate that the reserve of raw gas discovered is between 1.5–2 TSCF
Crude has surged around 14 per cent this year to more than $85 a barrel
Etisalat was also named the strongest telecom brand globally
ADNOC said the new entity “intends to closely monitor market conditions and explore potential funding opportunities”
The UAE added that those responsible for the targeting of its civilian facilities on Monday will be held accountable