Eight OPEC+ countries, including Saudi, UAE, Kuwait and Oman, have agreed to increase oil production
Energy
Damac
Damac’s EDGNEX buys Finnish data centre company
Hyperco’s operations are focused on Finland and Sweden, leveraging the Nordic region’s sustainable energy resources
ADNOC
EU regulators to decide on ADNOC’s Covestro deal by May 12: Report
Abu Dhabi oil major ADNOC struck the deal for its biggest ever acquisition last October
DEWA
DEWA saw 4.5% surge in electricity connection requests for Dubai commercial projects in 2024
DEWA provides electricity connections of up to 150 kilowatts within five days
China
China discovers major new oilfield off Shenzhen
Oilfield is around 170 km off the coast of Shenzhen, China, and sits at an average water depth of 100m
Abu Dhabi
UAE petrol prices to drop sharply in April 2025
UAE petrol prices fell slightly in March following an increase in February
Abu Dhabi
Eid Al Fitr holidays in the GCC; Dubai’s 100 most influential people; UAE petrol prices to change; Royal baby announced – 10 things you missed this week
Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories this week
Abu Dhabi
AD Ports Group, Oylz Terminals ink pact to develop world-class petroleum storage terminal at Khalifa Port
Olyz Terminals is to develop a state-of-the-art 600,000 cbm tank storage facility at the Khalifa Port Logistics Hub in two phases
clean energy
Masdar completes acquisition of Valencia’s largest solar project
Valle Solar, when operational in H1 2027, will produce 234MW of solar energy, with a potential BESS hybridisation of 259MW
Commercial Bank of Dubai
Commercial Bank of Dubai backs Siemens Energy with AED 550mn facility to drive UAE energy projects
The facility will enable Siemens’s UAE unit to execute its expanding pipeline of projects and drive future growth
Abu Dhabi
UAE petrol prices to change for April 2025
UAE petrol prices fell slightly in March following an increase in February
Masdar
UAE’s Masdar acquires 49.99% stake in Spanish solar plants for €184mn
The acquisition will be partially funded via acquisition financing from BNPP, Santander, Intesa Sanpaolo, ADCB and FAB
ADNOC Gas
ADNOC Gas announces $3.4bn dividend
ADNOC Gas shareholders approve major dividend after record results in 2024
Masdar
Masdar invested $8.2bn in 2024 as it advances renewable energy portfolio
Masdar advancing its worldwide renewable energy portfolio
Dubai roads
RTA and ENOC team up to bring hydrogen-powered vehicles to Dubai
RTA and ENOC to power Dubai buses with hydrogen fuel
Abu Dhabi
Abu Dhabi’s ADQ to partner ECP in $25bn investment in the US energy infrastructure
The 50-50 partnership will focus on developing new power generation to serve the growing electricity needs of data and industrial centres