Domestic gas demand and efficient management of the shut-down programme lead to net income of $1.27bn; EBITDA grows 4% to $2.16bn
UAE energy
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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
Suhail Al Mazrouei
UAE to invest $54.5bn to meet sustainable energy demand
UAE plans massive investment to meet sustainable energy demands and net-zero targets
Renewable Energy
UAE to pass renewable energy targets for 2030
UAE expected to exceed renewable energy capacity ambitions for 2030
Petrochem ME
The taste of success: Inside the rise of Yogesh Mehta’s billion-dollar petrochem empire
Yogesh Mehta, the force behind Petrochem Middle East’s $2 billion success, is ready to pass the baton to his son Rohan and his senior directors, as he turns 65. In his most candid interview to date, Mehta opens up about the tough road ahead for the company, his concerns for the future, and his true thoughts on Rohan’s readiness to lead
clean energy
Dubai hydroelectric plant will open in 2025
Sheikh Hamdan visits $387m Dubai hydroelectric plant
COP28
UAE Energy Strategy: $54bn investment, 50,000 green jobs and transition to renewables
UAE energy and hydrogen strategies create jobs and enhance sustainability says minister
COP28
UAE to invest $54bn in energy sector and triple renewables contribution
UAE announces updated National Energy Strategy as it looks to triple the contribution made by renewables
Barakah Nuclear Energy Plant
UAE makes progress in climate goals as Barakah nuclear plant gears up to meet 40% of electricity demand
Once fully operational, the four units of the plant will prevent 22.4 million tons of carbon emissions annually, while bridging to other clean energy technologies, such as clean hydrogen
Dana Gas
Dana Gas reports 107% year-on-year increase in collections from Egypt and Iraq
Higher energy prices as global Covid-19 recovery continues have helped the company realise profitability, CEO says
ADNOC
ADNOC awards $946m contract for Umm Shaif field
Award supports plans by ADNOC to produce five million barrels per day (mmbpd) by 2030
Dana Gas
Sharjah-based Dana Gas wins Egyptian arbitration case
IPR Wastani Petroleum Ltd initiated the arbitration in late April over the sale and purchase agreement for the sale of oil and gas assets in Egypt
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OPEC
UAE reaches compromise to resolve standoff with OPEC+
The UAE will set a new baseline of 3.65 million barrels a day for its production cuts
clean energy
Hatta’s hydroelectric power station set to be commissioned in 2024
DEWA chief checks progress on project which is the first of its kind in the GCC region
ENI
Gas well start-up signals ‘exciting times’ for Sharjah’s energy sector
Sharjah National Oil Corporation and Italian energy giant Eni announce the start-up of the Mahani-1 gas well
ADNOC
Italian, Thai energy giants to invest $412m in Abu Dhabi offshore concession
Abu Dhabi National Oil Company announces the signing of an exploration concession agreement with Eni and PTTEP
Abu Dhabi National Oil Company
US oil major to invest $140m in Abu Dhabi exploration concession
Abu Dhabi National Oil Company announces the signing of an exploration concession agreement with Occidental