#energy

DEWA NEW CENTRE

Dubai’s DEWA inaugurates new visitor centre in fourth phase of mega solar park

The 950MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park has investments totalling Dhs15.78bn based on the IPP model

ADNOC Drilling

UAE’s ADNOC Drilling reports net profit of $460m for first nine months of 2021

Its revenue increased 12 per cent year-on-year in the first nine months of 2021 to $1.7bn

Saudi economy grows at fastest rate in nearly a decade

Gross domestic product expanded by 6.8 per cent compared to the same quarter of 2020

Abu Dhabi

UAE, IRENA launch $1bn platform to finance renewable energy transition

The UAE has committed $400m in funding, provided by the Abu Dhabi Fund for Development, for the Energy Transition Accelerator Financing Platform

Dubai announces plans to list utility DEWA in the ‘coming months’

The utility has projects valued at around Dhs86bn that are planned to be commissioned in the next five years

Four charts show why silver’s surge is set to fade

Silver’s other role as a key commodity in solar panels and electronics is likely to buoy prices over the longer term

Sheikh Khaled bin Mohamed launches clean energy partnership between ADNOC, EWEC

The partnership will see up to 100 per cent of ADNOC’s grid power supplied by EWEC’s nuclear and solar clean energy sources

Saudi Green Initiative

Saudi Arabia aims to achieve net zero emissions by 2060

It involves an investment of SAR700bn, with the minister of energy adding that the initiative will not have an adverse economic impact on oil exporters

Digital transformation will lead to a cleaner future

While sustainability is the future, digital transformation is a key enabler supporting industries make the transition

Aramco oil pipeline investors ready multi-billion dollar bond

The consortium, led by Washington-based EIG Global Energy Partners, may raise at least $4.5bn

Fire breaks out at Kuwait’s Mina Al-Ahmadi refinery, injuries reported

The refinery’s export operations have not been affected

Oil trades near $80 as global power crisis set to boost demand

Crude has gained more than 60 per cent this year as the roll-out of Covid-19 vaccines lifted movement curbs and, subsequently, oil demand

UAE net zero carbon

UAE reveals Net Zero 2050 Strategic Initiative

The UAE will spend over Dhs600bn on renewable energy until 2050

Oil holds drop from seven-year high as energy crunch fears ease

US crude inventories expanded by 2.35 million barrels last week

Energy Industry

Powering the future

The adoption of new technologies is set to transform the functioning of the energy and utilities sector as it transitions to a sustainable future

UAE fuel prices

UAE raises fuel prices for October 2021

OPEC said on Tuesday that it expects global fuel consumption to fully recover from its pandemic slump by 2023

Biggest Saudi IPO since Aramco draws strong investor interest

The $1.2bn IPO by ACWA Power International had initial demand amounting to several billion dollars

Sustainable world building: How we can achieve it through partnerships

Only by deploying efficient solutions can the world address both the climate crisis and the growing demand for energy and other services

UAE seeks $1 trillion in business with Israel over next decade

The UAE was looking at sectors including defense, energy and food security

Lulu SirajPower solar energy

Lulu to open 1MWp solar carport at its hypermarket in Dubai’s Silicon Oasis

The solar carport covers an area of 7,209 sqm and will produce 1.7 GWh of clean energy annually, offsetting more than 1,205 metric tons of carbon emission

UAE’s ENEC announces start-up of Unit 2 of Barakah nuclear power plant

The announcement comes within five months of the start of commercial operations of Unit 1

Nur Navoi Solar Project

Abu Dhabi’s Masdar inaugurates 100MW Nur Navoi solar project in Uzbekistan

By 2030, Uzbekistan aims to deploy 5GW of solar and 3GW of wind power capacity, meeting 25 per cent of its electricity needs

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed inaugurates 300MW stage at Mohammed bin Rashid Al Maktoum Solar Park in Dubai

It is the first stage of the 900MW fifth phase that uses solar photovoltaic bifacial technologies with Single Axis Tracking to increase energy production

ADNOC Al Nouf

UAE’s ADNOC Group to invest $187m to expand capacity of Al Nouf field

The investment will expand the capacity of ADNOC’s Al Nouf field from 160,000 barrels per day (bpd) to 175,000 bpd by 2024

Aramco is in advanced talks on up to $25bn Reliance deal

A transaction would boost Aramco’s sales of crude to India

Khalid Al Qubaisi

Khalid Al Qubaisi appointed as CEO of Abu Dhabi Energy Services

Al Qubaisi reportedly has over 15 years of diversified experience in the investments and energy sectors

IEA cuts oil demand outlook for rest of 2021 due to Covid-19

Oil prices have retreated 6 per cent this month as the contagious delta variant triggers renewed lockdowns in China and other key Asian consumers

Dumat Al Jandal wind farm

Trials successful on Saudi Arabia’s first wind farm; connected to electricity grid

UAE’s Masdar has partnered on the construction of the 400MW Dumat Al Jandal facility

indonesia solar plant

Masdar JV starts construction on Indonesia’s first utility-scale floating solar power plant

The 145-megawatt Cirata Floating Photovoltaic Power Plant is expected to begin commercial operations in Q4 2022

Oil holds decline as investors track delta’s spread across China

West Texas Intermediate was slightly higher after slumping 3.6 per cent on Monday