The energy firm’s profit was roughly in line with that of oil major Shell
China’s significant role in the global solar market is underscored by its massive installation rates and manufacturing scale-up, leading to a 50 per cent drop in solar panel prices last year
The UAE aims to rank among the top 10 producers of green hydrogen globally by 2031, with a production target of 1.4 million tonnes annually
The introduction of a reduced tariff structure directly reduces operational costs, enabling businesses to invest more in research and development rather than on overheads, says the EtihadWE CEO
The exchangeable bonds were issued in May 2021 along with the offering of approximately 375 million shares in ADNOC Distribution
International demand for the secondary share sale was greater than for Aramco’s IPO in 2019
The oil behemoth’s shares were priced at $7.27 (SAR27.25), near the bottom of a SAR26.7 to SAR29 range used in marketing the sale
The contract is for the procurement and construction of the third phase of the master gas system in Saudi Arabia
The state-owned energy firm’s bankers have told investors it plans to price the shares at $7.27 (SAR27.25) each
NMDC Energy plans to invest $100m in the modular fabrication manufacturing facility
The acquisitions will give the Abu Dhabi maritime logistics firm access to Navig8’s fleet of 32 tankers and global footprint across five continents
This strategic investment will leverage B.Grimm Power’s experience and capabilities to develop solar energy projects across the UAE, Saudi Arabia, and Bahrain
The agreement builds upon previous collaborations between ADNOC and SOCAR, including ADNOC’s acquisition of a 30 per cent equity stake in the Absheron gas and condensate field
The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 20 fils per litre in June
The deal’s value could rise to $13.1bn at the top end under a greenshoe option, which would allow the sale of nearly 1.7 billion shares
The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 19 fils per litre in May
A longer period of oil demand growth could boost the incomes of producers like the members of OPEC and allies, known as OPEC+
The energy firm expects to pay $31bn in dividends, despite reporting lower earnings for the first quarter
Shell announced a plan to divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses
The state energy firm offloaded 880 million shares at Dhs3.90 apiece, approximately 70 per cent above the IPO price of Dhs2.30
ADNOC’s first investment in Mozambique complements its efforts to expand its lower-carbon LNG portfolio to meet growing gas demand and support the transition to cleaner fuel sources
The fund has already begun building a portfolio of assets in the western Balkans region, with two wind farms totalling 456 MW
The 11.7 per cent equity stake in Phase 1 of Rio Grande LNG marks ADNOC’s first strategic investment in the US and complements its efforts to expand its lower-carbon LNG portfolio
The drilling firm has incorporated Turnwell Industries to service the contract and explore future opportunities
The field has production capacity of up to 100 million standard cubic feet of gas per day
ADNOC has been stepping up its global expansion in recent years, including building trading operations since 2018
The company’s earnings before interests, taxes, depreciation and amortisation rose by 4.9 per cent to reach Dhs5.5bn
Iraq has repeatedly said it is committed to voluntary cuts but pumped over its output quota by a cumulative 602,000 bpd
The visit is a continuation of long-standing engagement between the US and this region
The wind farm, which is on track to start operations by the end of the year, will consist of 50 wind turbines built on monopile foundations