#energy

Empower

Dubai’s Empower awards contracts worth Dhs217m in Q1 2021

The contracts were awarded primarily for the development of company’s district cooling infrastructure in Dubai

Oman is said to study strategic options for state energy firm OQ

OQ is an integrated energy company with oil and gas exploration and production operations, refineries, a retail network and a large petrochemical business

Masdar Azerbaijan solar power

UAE’s Masdar inks deal for mega solar power project in Azerbaijan

The 230-megawatt project is Azerbaijan’s first foreign investment-based independent solar project structured as a public-private partnership

Dubai’s DME introduces new platform to trade multiple crude grades

Dubai’s DME introduces new platform to trade multiple crude grades

Abu Dhabi summit: Regional leaders pledge to accelerate progress on climate action

A total of 11 countries have signed a group statement to ensure the success of the Paris Agreement

Injazat, Lamprell announce joint venture for digital energy solutions

JV launches with initial funding of $7m split equally between the partners

Dubai Centre for Waste Processing

Dubai to build one of the world’s largest energy-from-waste projects

A consortium of companies will build and operate the Dhs4bn Dubai Centre for Waste Processing

UAE fuel prices

UAE hikes fuel prices for April 2021

It is the second straight month that prices have risen in the UAE

Top UAE power producer joins global peers in renewables push

About 30 per cent of Taqa’s total generation will be made up of solar or wind plants

Abu Dhabi

Abu Dhabi’s Mubadala signs MoU with Snam to explore hydrogen-focused projects

The two entities will carry out technical and economic feasibility studies to explore potential projects promoting hydrogen development in the UAE and elsewhere

Saudi Aramco makes second highest profit on surging oil prices

Key Saudi Arabian oil site attacked, sending crude prices surging above $71

A storage tank in the Ras Tanura terminal was attacked by a drone while a missile also landed near a residential compound for Saudi Aramco employees in Dhahran

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