Clean energy comprises 14% of Dubai’s total power production capacity: DEWA

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

Oil extends drop in thin trading as fears over Covid wave mount

Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year

Saudi Aramco refiner drops in debut after $1.3bn IPO

Saudi Aramco refiner drops in debut after $1.3bn IPO

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

DEWA project in Hatta over 50 per cent completes courtesy: Dubai Media Office

Hydroelectric power plant in Hatta is 58% complete: DEWA

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

Saudi’s PIF acquires up to 9.5% stake in Skyborn Renewables

The investment will allow the sovereign wealth fund to participate in the acceleration of energy transition and clean energy at an international scale

Abdul Latif Jameel Energy’s FRV to power 400,000 homes in Brazil via new solar farm

The project will contribute to the diversification of the local economy and will be a source of investment for the region


Oil steadies after three-day drop as demand concerns multiply

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


Saudi Aramco refiner Luberef’s IPO to raise up to $1.32bn

Luberef becomes the latest billion-dollar plus IPO in the Gulf


Oil poised for weekly gain with China softening virus curbs

West Texas Intermediate traded above $81 a barrel after a run of four daily gains

Rise report 2022

Covid-19 recovery efforts triggered new energy access policies, reveals new World Bank report

Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator

Amea Egypt

UAE’s Amea Power completes $1.1bn renewable energy deal in Egypt

The company will build, own and operate the 500MW solar PV plant and 500MW wind farm in the country


TAQA Group reports nine-month net income of Dhs6.5bn

TAQA’s Board of Directors also declared an interim cash dividend of Dhs675m

Yousef Al Nowais, of ARDECO, Dr. Saleh Al Hashmi, of ADNOC, Ahmed Khashan, of Schneider Electric

Schneider Electric, ARDECO to manufacture power and energy tech solutions in the UAE

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

UAE and Austria sign energy partnership

UAE and Austria sign energy partnership

The partnership will focus on projects of mutual interest in refined products, liquefied natural gas, renewables and hydrogen

ADNOC Drilling Rig at Upper Zakum

ADNOC Drilling sets new record for longest well at Upper Zakum Concession

Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017

ADNOC awards $980m contract

ADNOC awards $980m contract to spur UAE’s offshore energy resources

Over 80 per cent of the contract value will flow back into the country’s economy under ADNOC’s In-Country Value programme

ENEC Cyber Security Council MOU

Emirates Nuclear Energy Corporation, UAE Cyber Security Council to jointly boost cyber ‘resilience’

The two entities will conduct periodic exercises for the energy sector to build its readiness to respond to cyber incidents

Oil holds near lowest since January with demand outlook dimming

West Texas Intermediate was steady below $77 a barrel after sinking more than 8 per cent over the previous two sessions

energy agreement

UAE and Germany sign new energy agreement

The agreement will accelerate projects of joint interest in areas of energy security, decarbonisation and climate action


ACWA Power names China’s Silk Road Fund as co-investor in $1bn project in Uzbekistan

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

ADQ monetises minority stake in Taqa to Multiply Group, Abu Dhabi Pension Fund, other investors

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

ADNOC Rig Photo

ADNOC awards $1.83bn framework agreements for drilling-related services

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

ADNOC awards ADNOC L&S Dhs4.3bn contract to hire jack-up barges to boost offshore operations

ADNOC awards Dhs4.3bn contract to hire jack-up barges to boost offshore operations

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

Gulf deals

Cash-rich Gulf funds splurge on mega deals as liquidity dries up

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 and Greece sign MoU

Saudi Arabia and Greece sign agreements on energy, security, telecom, digital economy

Saudi Arabia’s Crown Prince Mohammed bin Salman is on a two-day official visit to Greece


Oil slips as investors weigh demand outlook ahead of Federal Reserve meet

West Texas Intermediate futures edged lower toward $96 a barrel after rising 2.1 per cent on Monday

UAE President concludes two-day state visit to France

UAE President concludes France visit, issues joint commitment for collaboration

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

UAE and France sign a Comprehensive Strategic Energy Partnership

UAE and France sign two significant energy agreements, launch Business Council

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


Oil declines as traders weigh mideast supply after Biden trip

Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets


Oil set to end volatile week below $100 on slowdown concerns

West Texas Intermediate tumbled below $91 a barrel on Thursday