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On its completion, the project will have the largest thermal storage capacity in the world of 15 hours, allowing for energy availability around the clock
Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year
Luberef, as the refiner is known, dropped as much as 6.6 per cent in Riyadh to SAR92.5 ($24.61), valuing the company at SAR15.9bn
The power plant will have a production capacity of 250 MW, a storage capacity of 1,500 Mwh, and a life span of up to 80 years once completed
The investment will allow the sovereign wealth fund to participate in the acceleration of energy transition and clean energy at an international scale
The project will contribute to the diversification of the local economy and will be a source of investment for the region
West Texas Intermediate held above $74 a barrel after futures sank almost 9 per cent in the prior three sessions to erase the year’s gains
Luberef becomes the latest billion-dollar plus IPO in the Gulf
West Texas Intermediate traded above $81 a barrel after a run of four daily gains
Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator
The company will build, own and operate the 500MW solar PV plant and 500MW wind farm in the country
TAQA’s Board of Directors also declared an interim cash dividend of Dhs675m
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
The partnership will focus on projects of mutual interest in refined products, liquefied natural gas, renewables and hydrogen
Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017
Over 80 per cent of the contract value will flow back into the country’s economy under ADNOC’s In-Country Value programme
The two entities will conduct periodic exercises for the energy sector to build its readiness to respond to cyber incidents
West Texas Intermediate was steady below $77 a barrel after sinking more than 8 per cent over the previous two sessions
The agreement will accelerate projects of joint interest in areas of energy security, decarbonisation and climate action
ACWA Power owns 51 per cent of the 5 GW Sirdarya combined cycle gas turbine facility, with Silk Road Fund obtaining a 49 per cent stake
Abu Dhabi-based Taqa has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations
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
The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year
Saudi Arabia’s Crown Prince Mohammed bin Salman is on a two-day official visit to Greece
West Texas Intermediate futures edged lower toward $96 a barrel after rising 2.1 per cent on Monday
The two nations agreed to collaborate across various fields, including peace and stability, food and energy, economy and investment, climate change, healthcare, education, culture and space
In addition to the CSEP signed by the two nations, ADNOC and TotalEnergies inked a strategic partnership agreement to explore new opportunities for growth across the energy value chain
Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets
West Texas Intermediate tumbled below $91 a barrel on Thursday