Mubadala’s deputy CEO, Waleed Al Mokarrab Al Muhairi, will serve as interim chief executive of the UAE investments platform
The award marks the first time a Malaysian company will explore for hydrocarbons in Abu Dhabi
The Truck Rest Stops will be constructed over a total area of more than 226,000 square metres with a capacity to accommodate about 500 trucks and heavy vehicles
The company’s Q3 2022 revenues increased 52 per cent year-on-year to total $1.32bn
The partnership will play an important role in upskilling the UAE’s technical workforce, as well as driving the development of the engineering and manufacturing knowledge pool
Other areas under joint development include electrification and Power-to-X technologies to produce green hydrogen and its derivatives
The agreements were awarded to ADNOC Drilling Company, Schlumberger Middle East and Halliburton Worldwide Limited Abu Dhabi
Over 80 per cent of the contract value will flow back into the country’s economy under ADNOC’s In-Country Value programme
Over 80 per cent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value programme
The agreement will accelerate projects of joint interest in areas of energy security, decarbonisation and climate action
The project is expected to reduce the carbon footprint of ADNOC’s offshore operations by more than 30 per cent
The agreement will see ADNOC supply DUSUP with natural gas, which will be used instead of clean coal for electricity generation at DEWA’s IPP
The contract will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day
The framework agreements, the largest of such awards in the oil and gas industry, cover ADNOC’s onshore and offshore fields and will run for five years
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