India energy firms see growth prospect in Africa and Middle East

State-run energy consultant Engineers India expects to finalise a nearly $25m order for a chemicals and fertiliser plant in Nigeria


Oil extends gain as Saudi Arabia bets on demand rebound in Asia

Saudi Aramco increased most of its prices for crude that will be shipped to its main market of Asia in March

Masdar Office Inaugration in Baku

Masdar opens office in Azerbaijan, aims to support country’s clean energy objectives

Masdar will work closely with the government and other stakeholders in Azerbaijan to accelerate the growth of its renewable energy sector

ADNOC signs deals with 23 companies

ADNOC, 23 companies ink deals for local manufacturing opportunities worth Dhs17bn

Domestic manufacturing of these products will support the ‘Make it in the Emirates’ initiative, stimulate industrial growth and create more jobs for UAE Nationals

Borouge reports $1.4bn net profit in 2022

Abu Dhabi-based Borouge reports $1.4bn net profit in 2022

The company delivered adjusted EBITDA of $541m in the fourth quarter, flat on a year-on-year basis with a net profit of $247m

Dubai records 5.5% growth in energy demand in 2022

Dubai records 5.5% growth in energy demand in 2022

Energy demand last year reached 53,180 gigawatt-hours, compared to 50,401 gigawatt-hours in 2021

Saudi Omani conference Photo courtesy saudi press agency SPA

Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn

The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh


Oman Energy firm OQ to sell 49% stake in oil-drilling unit IPO

The IPO could raise as much as $500m

Power Letters 2023: Nabil Habayeb, SVP – GE, President and CEO – GE International Markets

January 2023 will start with the creation of GE HealthCare, a company which will drive precision health to improve patient outcomes


UAE’s Masdar targets $750m bond sale

The firm plans to grow its renewables capacity five-fold by the end of the decade

Masdar - SOCAR sign renewable energy agreements

UAE’s Masdar, Azerbaijan’s SOCAR to develop renewable energy projects

The agreements will help develop onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a combined capacity of 4 gigawatts

UAE - Japan sign agreements to drive energy transition photo WAM

UAE, Japan ink agreements to advance energy transition, tech adoption

These agreements fall within the framework of the comprehensive economic partnership signed by the UAE and Japan in September 2022

UAE and US form Expert Group to govern PACE Photo_WAM

UAE, US form ‘Expert Group’ to govern Partnership for Accelerating Clean Energy

UAE and US officials announced that $20bn will be allocated to fund 15 new gigawatts (GW) of clean and renewable energy projects in the US before 2035, led by UAE’s Masdar and a consortium of US private investors

World Future Energy Summit is hosted by Masdar and is part of Abu Dhabi Sustainability Week

Abu Dhabi Sustainability Week 2023: World Future Energy Summit opens on Jan 16

A summit highlight is the new one-day ENOWA ENACT conference on January 17 from the energy, water, and hydrogen subsidiary of NEOM

UAE-South Korea MoU and agreements signed photo courtesy WAM

UAE, Korea to advance strategic partnership, sign MoUs related to space, clean energy, defence sectors

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Yoon Suk Yeol, President of the Republic of Korea, witnessed the signing of the MoUs and agreements

UAE, UK sign agreement to drive energy sector_photo_wam

UAE, UK sign MoU to drive cooperation in energy sector

The agreement will build cooperation in areas such as environmentally sustainable transportation, sustainable fuels, biomass projects, waste conversion to energy, and carbon capture


Abu Dhabi’s ADNOC sets up new gas processing, operations and marketing entity

ADNOC Gas will serve domestic and international customers with an expanding portfolio of gas products

Oil prices

Oil edges higher after two-day slump as demand outlook sours

A surge in Covid-19 cases in China has clouded the near-term demand outlook


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