#energy

Dewa Jebel Ali Power Generation and Water Production Complex

Dubai’s DEWA bags Guinness record for largest single-site natural gas power facility

The complex can generate 9,547 MW of electricity

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

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

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

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

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

Energy firm Engie partners with Abu Dhabi on tech-driven sustainability project

Blue Carbon project seeks to rehabilitate Abu Dhabi’s mangrove habitats using drones

oil-pumps

Kuwait makes three oil and gas discoveries

The discoveries were made in the largely unexplored western and northwestern areas of the country

Yves Bonzon is the group chief investment officer at Julius Baer

Five macro trends set to shape the next decade

From the end of the neoliberal era to policy intervention, these are the macro economic trends expected to mark the biggest future shifts in the economy

Sharjah National Oil Corporation

Sharjah National Oil Corporation begins gas production at Mahani

Production begins a year after the discovery of gas in the field, touted as the first new onshore find in Sharjah in nearly four decades

Abu Dhabi’s ADNOC Distribution to acquire 15 fuel stations in Saudi for $10m

The stations, located in the eastern region, with sites on both the highway and within communities, will be refurbished

Saudi Arabia’s ACWA Power to build wind park in Azerbaijan

Azerbaijan plans to increase the share of clean energy in electricity generation to 30 per cent over the next decade

UAE announces fuel prices for January 2021

This is the 10th consecutive month that prices have stayed unchanged

In pictures: Is this the world’s ‘most innovative car’?

The Porsche Taycan, the brand’s first fully electric model, offers many firsts and gives a glimpse into the future of efficient electromobility

Saudi Arabia announces discovery of four new oil and gas fields

Saudi Aramco is continuing to work on determining the size and volume of discovered fields

UAE sees gradual oil demand recovery in 2021 – minister

Rollout of coronavirus vaccines and improvement in ties between the US and China are likely to improve demand for oil

Oil market receives boost as OPEC+ agree to gradual output hike

Members have decided to add 500,000bpd of production to the market next month, then hold monthly meetings to decide on subsequent moves

Oil extends drop as OPEC+ struggles for consensus on output plan

Oil has just capped its biggest monthly increase since May on optimism energy demand will rebound as Covid-19 vaccines are rolled out in the coming weeks

Dubai Electricity

Dubai’s DEWA slashes water and electricity surcharges

The reductions will be applied on electricity and water bills from December 1, 2020

Mohammed bin Rashid Al Maktoum Solar Park

Dubai’s Mohammed bin Rashid Al Maktoum Solar Park to have world’s largest energy storage capacity

The fourth phase will be operational in stages starting from Q3 2021

Dubai’s Al Ghurair Group partners with SirajPower for solar power projects

SirajPower to install a 1.8 MWp solar rooftop plant at Gulf Extrusions factory

Mapping the future for energy trading organisations

A global health emergency and collapse in crude oil prices have ratcheted up the pressure to address the sector’s critical challenges: efficiency, agility and growth

Abu Dhabi to start trading crude futures from March

Murban crude, pumped from onshore fields, comprises more than half of the country’s output

Technology

Abu-Dhabi’s G42 signs agreement with AIQ and Schlumberger for AI solutions in oil and gas industry

AIQ data scientists will develop AI modelling and supercomputing solutions using Schlumberger’s open cloud-based software platforms

DEWA

DEWA opened 20 electricity substations in Dubai this year at a cost of Dhs2.6bn

DEWA’s total investments in power transmission has reached Dhs11.2bn

Saudi Aramco maintains dividend despite 45% slump in profit

Income still increased for the first time in five quarters as oil prices steadied

Dubai’s Alcazar Energy weighs sale, green bond as part of review

The company had begun reviewing its options at the start of the year