UAE’s Masdar acquires 50% stake in US project from EDF Renewables
State-owned Masdar, the UAE’s biggest renewables company, has completed the acquisition of a 50% stake in a combined solar and battery storage project in California. In a statement issued by the Abu Dhabi-based operator on Wednesday, the financial details of the deal were not disclosed. The stake in the Big Beau project, which was first […]
Abu Dhabi’s TAQA establishes green finance framework
Abu Dhabi-listed energy and utilities company TAQA is establishing a green finance framework to issue green bonds, sukuks, loans and other debt instruments, to contribute to its ESG targets and the UAE’s Net Zero by 2050 ambitions. The company said in a statement that proceeds will go to eligible green projects, including renewable energy, energy […]
COP28 President-designate calls on all partners to unite around pragmatic, well-managed and just energy transition
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-designate, delivered the keynote speech at the Berlin Energy Transition Dialogue 2023 (BETD), during which he called on Germany and the international community to come to unite around a pragmatic and just energy transition that maintains energy security today while […]
DEWA’s electricity transmission and distribution lines reached 42,586.71 kms last year
Dubai Electricity and Water Authority (DEWA)’s electricity, water transmission and distribution lines witnessed substantial growth across Dubai in 2022. The total length of transmission and distribution electricity lines has reached 42,586.71 kilometres, and the water transmission and distribution lines has reached 13,769 kilometres. Saeed Mohammed Al Tayer, MD & CEO of DEWA, highlighted DEWA’s […]
Saeed Mohammed Al Tayer inaugurates DEWA Disruptive Lab
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has inaugurated the DEWA Disruptive Lab (DDL) at Al Hudaiba building, which will serve as a hub to implement the Innovation and Future Shaping Framework. The move is in accordance with DEWA’s updated Innovation and Future Shaping Framework inspired by […]
Smart Ball technology saves 130mln gallons of water: DEWA
Dubai Electricity and Water Authority (DEWA) has revealed that its Smart Ball technology has provided significant results in detecting leaks in water transmission underground pipelines. These are usually difficult to detect using traditional leak noise logging techniques due to depth. Since its utilisation in April 2021 and until the end of 2022, […]
Abu Dhabi’s ADNOC Gas shares up 18% over IPO price
Shares of ADNOC Gas jumped about 18% over its listing price in the Abu Dhabi market debut on Tuesday. ADNOC Gas’ shares traded at 2.8 dirhams ($0.7625) apiece, versus its initial public offering price of 2.37 dirhams. State-backed oil giant Abu Dhabi National Oil Co (ADNOC) had earlier this month, raised about $2.5 billion […]
UAE’s Dana Gas accrued $32mln in interest on Iran’s NIOC award
The UAE-based energy firm Dana Gas said on Monday its portion of interest accrued on an international arbitration tribunal award of $607.5 million in a gas supply dispute with National Iranian Oil Co. (NIOC) was $31.84 million as of February 2023. The dispute concerns a 25-year gas sales and purchase contract between Dana Gas affiliate […]
Dubai-based Shelf Drilling wins $118mln rig contract in Nigeria
Dubai-based Shelf Drilling has secured a two-year contract for its rig Shelf Drilling Scepter in Nigeria for offshore operations. The contract value, including mobilisation revenue, is about $118 million, the Oslo Stock Exchange-listed company said in a statement. The contract includes a one-year extension option, with the planned operational start-up in May 2023. The statement […]
UAE’s Jaber urges Big Oil to join fight against climate change
A top oil executive from the United Arab Emirates on Monday urged the energy industry to join the fight against climate change, borrowing a famous line from a U.S. astronaut aboard a damaged spacecraft during the Apollo 13 mission in 1970. “Houston, we have a problem,” Sultan al-Jaber, chief executive of Abu Dhabi National […]