UAE reduces fuel prices for October 2022

The price of Super 98 has been reduced to Dhs3.03 per litre

Oman oil driller Abraj Energy hires banks for $500m IPO

Oman oil driller Abraj Energy hires banks for $500m IPO

Abraj Energy was created in 2006 and owns about 20 land rigs

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

World Green Economy Summit discussed role of youth in climate change

World Green Economy Summit discusses role of youth in climate change

The summit discussed topics related to the skill development of youth in global climate policies, ways to empower them and the role of the government in supporting them

DGA

Saudi oil driller plans $710m IPO to expand operations

Arabian Drilling plans to use the IPO proceeds to scale up its onshore and offshore fleet and expand operations in the GCC region

Masdar, RWE Renewables partner to develop offshore wind projects across key markets

The partnership was announced following the signing of the Energy Security, Climate Action and Industry Accelerator Growth Pact between the UAE and Germany

WETEX and Dubai Solar Show support UAE's Net Zero 2050 Strategy

WETEX and Dubai Solar Show begin, supports UAE’s Net Zero 2050 Strategy

The exhibition is an integrated platform for organisations in the water, energy and environment sectors to learn about the latest technologies, solutions and developments

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

Qatar

TotalEnergies invests about $1.5bn in Qatar gas field

The project will raise Qatar’s liquefied natural gas capacity to 126 million tons

rigs

Abu Dhabi’s ADNOC Drilling acquires offshore jack-up rigs for $140m

The two new rigs will join the ADNOC Drilling fleet and commence operations by the end of the year

Aldar properties ot invest Dh25m to cut energy costs across communtities

Aldar invests Dhs25m into residential communities to cut energy consumption

The project will enhance energy efficiency across a range of Aldar hotels, schools, commercial, leisure, retail and residential buildings

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

Hydrogen strategy GettyImages-1340022435

UAE’s MoEI, GHD, Fraunhofer-Gesellschaft partner to develop National Hydrogen Strategy

The National Hydrogen Strategy will help inform the UAE’s policy decisions regarding energy-mix diversification strategies and net-zero targets by 2050

ENEC CSFN sign MOU

Emirates Nuclear Energy Corporation, French Nuclear Cluster ink MoU at E-Fusion event

The new agreement will see ENEC and CSFN focus on the future enhancement of a local supply chain for the UAE Peaceful Nuclear Energy Programme and the Barakah Nuclear Energy Plant

ADNOC's offshore operations

ADNOC, Taqa close $3.8bn deal to decarbonise offshore operations

The project is expected to reduce the carbon footprint of ADNOC’s offshore operations by more than 30 per cent

Fossil-fuel underinvestment is recipe for disaster, says Dr Sultan Al Jaber

A supply crunch has sent oil and natural gas prices soaring since the pandemic

Unit 3 of UAE’s Barakah nuclear energy plant starts up

Unit 3, once commercially operational, will add another 1,400 megawatts of zero-carbon emission electricity capacity to the national grid

Qatar says talks with Germany on LNG contracts ongoing

Qatar is one of the world’s biggest exporters of liquefied natural gas

Oil steady near eight-month low ahead of Central Bank rate hikes

West Texas Intermediate traded near $84 a barrel after closing almost 2 per cent lower on Tuesday following a volatile session

Saudi Aramco says global oil buffers may vanish when demand recovers

Oil and gas investments slumped from $700bn in 2014 to $300bn in 2021, according to Aramco’s chief executive officer, Amin Nasser

Saudi oil driller hires Goldman, HSBC, SNB Capital for local IPO

Arabian Drilling operates 45 rigs and had revenue of $586m last year

Samsung emissions

Samsung to invest $5bn under plan to tame rising emissions

South Korea’s biggest company also aims to switch overseas factories entirely to renewable electricity within five years

Paddy-Padmanathan-ACWA

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

IEA trims oil demand estimates as lockdowns deepen China slide

Crude futures have tumbled almost 25 per cent over the past three months

ADNOC Refining Ruwais Site

ADNOC Refining to complete first phase of Waste Heat Recovery Project in Ruwais

The project recycles waste heat from ADNOC Refining’s plant in Ruwais, increasing power production and thermal efficiency of the facility by around 30 per cent with no additional emissions

Oil

Saudi oil output hit 11 million barrels a day in August

It’s the highest monthly production level the kingdom has reported to OPEC since April 2020

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

DEWA and WGEO complete preparations for World Green Economy Summit

World Green Economy Summit to focus on energy, finance, food security

WGES is organised by DEWA, the World Green Economy Organization and the Dubai Supreme Council of Energy

Mubadala and TAQA sign agreement

Mubadala, Taqa ink agreements to invest in Uzbekistan’s power sector

The agreements will see Mubadala and Taqa each acquire a 40 per cent stake in two gas-fired power plants in Uzbekistan

Natural gas agreement signed between ADNOC and Dubai Supply Authority

The agreement will see ADNOC supply DUSUP with natural gas, which will be used instead of clean coal for electricity generation at DEWA’s IPP