UAE launches $30bn funding platform for fairer finance
COP28 President Sultan Al Jaber will chair Altérra, while Ambassador Majid Al Suwaidi, COP28 director-general, will be CEO.
United Arab Emirates
ADNOC awards £14 billion of contracts for largest ever gas project
ADNOC has announced a final investment decision (FID) on the Hail and Ghasha development, its largest ever gas development.
UAE to stump up $4.5bn for clean power in Africa
Masdar will stump up $2bn of equity, with another $8bn in project financing and through its Infinity Power venture. The Abu Dhabi-based company intends to reach 10 GW of clean energy in Africa by 2030.
Capterio calls on UAE to build bridge to zero flares
“We need to have the right engagement with difficult to engage countries,” Davis explained. “We have to engage the other half and try new approaches.”
Abu Dhabi bank first out of the blocks to target emissions
FAB is aiming to reduce scope one to three emissions in the oil and gas sector by 7 to 15% by 2030, from a 2021 baseline.
Boosting clean energy transitions in emerging economies
Our climate and energy future increasingly hinges on the ability of emerging economies to successfully transition to cleaner energy production.
Adnoc L&S snaps up Zakher Marine International
Adnoc Logistics & Services is buying Zakher Marine International (ZMI), an Abu Dhabi-based owner operator of offshore support vessels (OSVs).
MENA spending on the rise, but prices to remain high
Spending on the energy sector in the Middle East and North Africa could reach $879 billion over the next five years, according to Apicorp.
Technip Energies, NPCC launch MENA-focused energy transition unit
Technip Energies and Abu Dhabi’s National Petroleum Construction Co. (NPCC) have agreed to establish a joint company, aiming to focus on the energy transition.
Lamprell shareholder considers offer
A potential offer may be in the offing for Lamprell, which announced recently it was seeking a buyer to help it solve its liquidity issues.
Lamprell posts for sale sign amid severe liquidity issues
Lamprell (LON:LAM) faces “urgent and severe liquidity constraints”, the company has admitted, with an immediate need for $75 million, due in June and July this year.
Turning flare gas into hydrogen and graphene, Levidian seals UAE deal
A pioneering company has struck a deal to help decarbonise flaring sites in the United Arab Emirates, while producing hydrogen and graphene.
UAE ruler dies, triggering race for succession
United Arab Emirates ruler Sheikh Khalifa bin Zayed Al Nahyan has died triggering 40 days of official mourning.
Solar, hydrogen and storage: a heady mix for the Middle East
The Middle East’s oil and gas has put the region at the heart of the energy sector the last 100 years. These resources, plus plentiful sunshine, will see it continue to play a major role into the energy transition – but there will be bumps along the way.
Germany heads to UAE for ammonia deals, after Qatar LNG talks
Germany has struck agreements with Adnoc on securing low-carbon test ammonia cargoes, which will play a key part in the European state’s energy transition.
Israel drops UAE oil export plan
Israel has opted not to proceed with a United Arab Emirates-backed plan to transport oil through Eilat.
Delek to return cash to backers after Tamar sale completion
Delek Drilling has completed the sale of its stake in the Tamar field to Mubadala Petroleum for $1.1 billion.
Macron oversees slew of French deals on visit to Middle East
French President Emmanuel Macron has overseen a number of commercial deals during his visit to the Middle East.
Adnoc, TAQA move on Masdar’s energy, hydrogen units
Adnoc and TAQA have set out a plan to take a leading stake in Masdar’s renewable energy and hydrogen businesses.
Israel, Jordan strike linked water, power deal
Jordan and Israel have agreed to co-operate on solar and desalination projects, with support from the US and United Arab Emirates.
Adnoc, Borealis reach Borouge FID
Adnoc has signed a $6.2 billion deal with Borealis to expand the Borouge facility, in the United Arab Emirates.
UAE targets 25% of hydrogen market share
The United Arab Emirates has launched its Hydrogen Leadership Roadmap, with the stated aim of capturing a 25% market share.
Adnoc goes nuclear with EWEC deal to cut carbon
Adnoc has signed a deal to secure clean power, from nuclear and solar, with Emirates Water and Electricity Company (EWEC).
Ammonia: the missing link in the energy transition?
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
Saudi, UAE resolve differences, but OPEC remains under pressure
The United Arab Emirates and Saudi Arabia appear to have reached a compromise that will allow OPEC to continue in its moderation of the oil market.