#energy

ADNOC to buy OCI stake in Fertiglobe for $3.62bn

ADNOC to buy OCI stake in Fertiglobe for $3.62bn

ADNOC will become the majority shareholder in Fertiglobe, increasing its shareholding to 86.2 per cent, with 13.8 per cent remaining in free float on ADX

Dr Ulrich Ehmes on the new generation of batteries

Insights: Powering the energy transition with new batteries

For renewables to become the energy source of choice, battery-industry innovation is a must.

Saudi Aramco enters Pakistan with a 40% stake in GO

Saudi Aramco to acquire 40% stake in Pakistan fuel retailer GO

The state-energy firm said the transaction is subject to certain customary conditions, including regulatory approvals

UAE to announce petrol prices for December soon

UAE to announce petrol, diesel prices for December; will rates drop further?

The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 0.41 fils per litre in November

ADNOC opens H2GO - the regions first high-speed hydrogen refuelling pilot station Image WAM

ADNOC unveils high-speed green hydrogen refuelling pilot station

The station, located in Masdar City, will produce green hydrogen from water, using an electrolyser powered by clean grid electricity

ADNOC, Australia’s Santos to collaborate on carbon capture

Carbon capture: ADNOC, Australia’s Santos team up

The technology that could emerge from the cooperation would help support the companies’ customers in the Asia-Pacific region

Saudi Arabia discovers two new natural gas fields

Saudi Arabia discovers new natural gas fields in Empty Quarter

The Minister of Energy said the discovery of the Al-Hiran natural gas field was confirmed after gas flowed from the Hanifa reservoir in the Al-Hiran

Aramco produces first unconventional gas at South Ghawar

Saudi Aramco produces first unconventional gas at South Ghawar

Commissioned facilities at South Ghawar can process 300 million standard cubic feet per day of raw gas and 38,000 barrels per day of condensate

ADNOC L&S nine-month net profit up 162%

ADNOC L&S nine-month net profit up 162%, announces interim dividend

The company’s board of directors approved an interim cash dividend of $65m (Dhs239m) for Q2 2023, equivalent to 3.2 fils per share

DEWA’s Q3 revenue jumps 10.2% on demand

DEWA’s Q3 revenue jumps 10.2% on water, electricity demand

The company said its third-quarter net profit exceeds the profit of the same period last year by 6.9 per cent despite a doubling in finance costs

Aramco Q3 profit falls 23% on lower crude oil prices, volumes

Saudi Aramco Q3 profit falls 23% on lower crude oil prices, volumes

Net profit declined to $32.6bn for the quarter to September 30 from $42.4bn a year earlier

APICORP relocates to new office in Riyadh

APICORP relocates HQ to Riyadh, move aligns with new 2023-28 business strategy

The move to the new headquarters follows the approval of APICORP’s 2023-2028 business strategy, which includes a new brand identity

oil

Saudi to continue voluntary cut of one million oil barrels a day in December

Based on the voluntary cut, the kingdom’s production in December will be approximately nine million barrels per day

Arabian Drilling posts SAR920m on higher rig activity

Arabian Drilling’s Q3 revenue surges by 16% on higher rig activity

The company’s Q3 2023 net income remained flat QoQ, with the increase in operating profit mostly offset by higher finance costs

Sinopec, QatarEnergy sign 27-year LNG supply deal

Sinopec signs new 27-year LNG supply deal with QatarEnergy

The deal, signed at the China International Import Expo in Shanghai, is the third long-term supply deal between the two entities

UAE to announce petrol, diesel prices for November; will rates increase

UAE to announce petrol, diesel prices for November; will rates increase?

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 3 fils per litre in October

oil

Oil dips as caution about data-heavy week offsets Israel crisis jump

Brent crude oil futures dropped 98 cents, or 1.1 per cent, to $89.50 a barrel

ADNOC Gas, JERA Global ink multimillion LNG supply deal

ADNOC Gas signs multimillion LNG supply deal with JERA Global Markets

Natural gas continues to play a crucial role as a transitional fuel with lower carbon emissions compared to other fossil fuels

UAE-US trade talks

UAE-US trade talks: President Sheikh Mohamed bin Zayed meets US Secretary of Commerce

The two sides discussed non-oil trade opportunities and discussed ways for the two nations to strengthen their bilateral relationship

Abu Dhabi’s oil champion ADNOC bets on global expansion

Insights: Abu Dhabi’s oil champion ADNOC bets on global expansion

The company’s board brought forward to 2027 plans to up production capacity to five million barrels per day and approved a capital spending of $150bn

Qatar foundation stone laid for North Field Expansion Project Image courtesy QatarEnergy

Qatar begins work on major gas field expansion project

Along with LNG, the North Field expansion project will produce 6,500 tonnes per day of ethane gas, which will be used as feedstock in petrochemical industries

ADNOC, Occidental to build DAC facility in UAE

ADNOC, Occidental to advance direct air capture project in UAE

The energy firm is testing the world’s first fully sequestered CO2 injection well in a carbonate saline aquifer in Abu Dhabi

Masdar enters Tajikistan market with plans to explore 500mw clean energy projects Image WAM

Masdar enters Tajikistan through JV, eyes 500MW clean energy projects

MW Energy, a joint venture between Masdar and W Solar Investment, has signed an agreement with Tajikistan’s Ministry of Energy and Water Resources to explore the development of the projects

ADNOC Gas awards 615m contract for carbon capture projects

ADNOC awards Petrofac $615m carbon capture projects contract

The engineering, procurement and construction contract was awarded to Petrofac Emirates

Abu Dhabi to host ADIPEC 2023 from Oct 2-5 Image courtesy WAM

ADIPEC 2023: Biggest-ever edition opens in Abu Dhabi on Oct 2

ADIPEC 2023 is expected to attract more than 160,000 attendees from 164 countries

UAE to announce petrol prices for October soon

UAE to announce petrol, diesel prices for October; will rates decrease?

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 28 fils per litre in September

ADNOC Distribution approves $350m interim dividend

ADNOC Distribution board approves $350m interim dividend

The second and final dividend for 2023 is expected to be paid in April 2024

ADNOC, TAQA secure financing for $2.2bn water project

ADNOC, TAQA close $2.2bn financing for water project

The project is being financed by a group of nine local and international banks, through a combination of commercial and Islamic finance facilities

ADES Holding announces share price on IPO Image courtesy Ades Group

PIF-backed ADES Holding gets $76.5bn in orders for Riyadh IPO

ADES set the final offer price for the offering at SAR13.50 per share, implying a market capitalisation of SAR15.2bn at listing

Net Zero Nuclear showcased at Nuclear Energy Policy Summit 2023 Image supplied

Net Zero Nuclear in focus at Nuclear Energy Policy Summit in New York

Net Zero Nuclear is a collaboration between government, and industry leaders and civil society to triple global nuclear capacity to enable net zero by 2050