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
Demand for motor fuel plunged last week to the lowest seasonal level since 1996
West Texas Intermediate futures fell for a third session to its lowest level in three months
Crude has tumbled since early June on escalating fears of a slowdown as central banks raise rates to combat rampant inflation
The future of energy cooperation between the two countries holds great potential for mutually beneficial partnerships
The Abu Dhabi Department of Energy and Ministry of Mines and Energy of Colombia will explore opportunities for financing projects in energy areas including use, and storage of hydrogen
He assumed the position of secretary general in August 2016
The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange
The UAE is the third largest producer in OPEC
The collaboration will see both companies accelerate the development of digital technologies to unlock greater value from oil and gas operations
It provides its services to 3.5 million people who live in Dubai
ADNOC said that the new finds totalled 650 million barrels of oil
Investors have shunned equities and many commodities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation
Aramco’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year
Dubai’s main power and water company also reported a 15 per cent growth in Q1 2022 revenues to Dhs5.068bn
Japan’s total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February