Al Gharbia Pipe wins big supply contract for Abu Dhabi project
National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (The Group), has signed a purchase order agreement with Abu Dhabi-based Al Gharbia Pipe Company (AGPC) for the supply of 87 km of 34′ submerged arc welding line pipes for the Lower Zakum Long Term Development Phase-1 (LZ LTDP-1) New Main Gas […]
ADNOC Refining secures new international partners, further enabling UAE’s Industrial Growth
ADNOC Refining, a joint venture company between the Abu Dhabi National Oil Company (ADNOC), Eni, and OMV, announced today that it has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Middle East (Veolia), and Vision International Investment Company (Vision Invest) to acquire its waste management operations […]
UAE: World needs maximum energy with minimum emissions, says minister
Maximum energy with minimum emissions can ensure global energy security, an Emirati minister said during the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) 2022. Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology noted that the conference comes at a “pivotal” moment. “The solutions we agree on and the […]
Dubai’s DEWA adds 600MW of clean energy production capacity
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that the entity had added 300 megawatts of photovoltaic solar energy in 2022 from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, the world’s largest single-site solar park using the Independent Power Producer (IPP) […]
ADNOC announces new Upstream Methane Intensity Target of 0.15% by 2025
Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane Intensity target of 0.15% by 2025. The new target is the lowest in the Middle East, reinforcing ADNOC’s status as a leader in the responsible production of lower carbon energy. ADNOC’s 0.15% methane intensity target means […]
Dubai’s Empower set to raise $362mln in IPO
Dubai government–backed district cooling company Empower, which is planning to sell 10% stake in an IPO, has set the price range at between 1.31 and 1.33 dirhams ($0.35 and $0.36) per share potentially raising a maximum of $362 million. Subscriptions are set to open on October 31, with Dubai Electricity & Water Authority (DEWA) and […]
Abu Dhabi’s Mubadala acquires stake in Germany’s Skyborn Renewables
Abu Dhabi’s strategic investor Mubadala Investment Co. has acquired a stake in Skyborn Renewables, alongside Global Infrastructure Partners (GIP). The acquisition of a 100% interest in Skyborn Renewables provides Mubadala and GIP “with access to the largest private offshore wind developer globally with a long track record of development and an established presence in Europe […]
ADNOC ‘in talks’ to acquire or invest in energy trader Gunvor Group – report
Abu Dhabi National Oil Company (ADNOC) is reportedly looking for a partial or full acquisition of Geneva-based Gunvor Group, according to a Bloomberg report. The state-run oil producer has conducted “early-stage talks” about the potential acquisition, Bloomberg reported, citing sources who asked not to be named. Gunvor is one of the world’s largest independent commodities […]
ARIA Commodities launches 4 projects worth $42mln in HFZA
ARIA Commodities, a leading player in the field of asphalt and distillates and storage infrastructure development, has announced it will invest a total of AED 154 million ($42 million) in the construction of four plants in the Hamriyah Free Zone (HFZA), including a bitumen plant, a refinery, a tyre cycling plant, and a storage […]
FAB to finance Middle East sustainable projects with $75bln by 2030
First Abu Dhabi Bank (FAB) plans to endorse sustainable development projects across the Middle East with financing worth $75 billion by 2030, Ahram Gate cited Shargiil Bashir, Chief Sustainability Officer at FAB. Bashir pointed out that FAB already financed projects worth $30 billion that serve sustainable development in the fields of solar energy, aviation, transportation, […]