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The Latest Breaking News from ADNOC

UAE to Revise Energy Strategy to Align with Climate Neutrality Goal

Emirati Minister of Energy and Infrastructure Suhail al-Mazrouei said the ministry intends to start revising its energy strategy at the beginning of 2023 to align it to achieve climate neutrality by 2050. Mazrouei said that the review of the energy strategy includes the expansion of renewable energy and the implementation…

Asharq Al-Awsat

ADNOC CEO: Policies Aimed at Pulling the Plug on the Current Energy System are Misguided

Energy security is essential for social, economic and climate progress, said Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC). Speaking at the Energy Intelligence Forum in London, Dr. Al Jaber said market sentiment does…

Asharq Al-Awsat

Germany's RWE and UAE's ADNOC Ink LNG Deal

United Arab Emirates President Sheikh Mohamed bin Zayed and German Chancellor Olaf Scholz witnessed on Sunday the signing of a new Energy Security and Industry Accelerator (ESIA) Agreement that will accelerate projects of joint interest between the UAE and Germany in energy security, decarbonization and climate action. The agreement was…

Asharq Al-Awsat

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ADNOC, TAQA Conclude $3.8b Deal on Clean Energy, Decarbonization

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) revealed concluding a $3.8 billion strategic project to power and decarbonize ADNOC's offshore production operations. Together with a consortium comprised of Korea Electric Power (KEPCO), Kyushu Electric Power Company (Kyuden) and Électricité de France (EDF) (the…

Asharq Al-Awsat

UAE to Produce 230MW of Electricity Via Waste Heat Recovery Project

The UAE’s Waste Heat Recovery project will recycle waste heat generated from the plant to produce up to an additional 230 megawatts (MW) of electricity per day – enough to power hundreds of thousands of homes. It will also produce 62,400 cubic meters of distilled water per day for use…

Asharq Al-Awsat

Landmark UAE Gas Sales Agreement Signed between ADNOC, DUSUP

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, have witnessed the signing of a landmark gas sales agreement between Abu Dhabi National Oil Company (ADNOC) and Dubai Supply Authority (DUSUP). The agreement showcases the UAE’s…

Asharq Al-Awsat

ADNOC Announces $548Mln Contract for New Main Gas Line

The Abu Dhabi National Oil Company (ADNOC) announced Monday awarding a AED2.01 billion ($548 million) contract to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi. The award will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic…

Asharq Al-Awsat

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UAE Exports First Low-Carbon Ammonia Shipment

The Abu Dhabi National Oil Company (ADNOC) announced on Thursday that it had shipped its first ever shipment of low-carbon ammonia to Hamburg, Germany. Arubis, a global provider of non-ferrous metals and one of the world's largest copper recyclers, will receive this shipment. Developed by Fertiglobe, a partnership between ADNOC…

Asharq Al-Awsat

3 Under-the-Radar Oil Stocks Investors Should Consider

Oil prices rebounded yesterday, boosted by the slowdown of inflation. Moreover, oil demand is expected to rise this year amid an already tight market which might increase oil prices further. Amid this, Adams Resources & Energy (AE), TotalEnergies (TTE), and Cenovus Energy (CVE) are flying under the radar, offering good…

StockNews.com

ADNOC Reveals Second Gas Discovery in Abu Dhabi Offshore Block

Abu Dhabi National Oil Company (ADNOC) revealed on Friday a second discovery of natural gas resources in the first exploration well in Abu Dhabi's Offshore Block 2 Exploration Concession, operated by Eni. The find from a new deeper reservoir.

Asharq Al-Awsat

ADNOC Distribution to Acquire 50% Stake in 'TotalEnergies Egypt'

Abu Dhabi National Oil Company (ADNOC) Distribution agreed with "TotalEnergies Marketing Afrique SAS" to acquire a 50 percent stake in TotalEnergies Egypt for about $186 million, with an additional earn-out of up to $17.3 million. TotalEnergies Egypt was established in 1998 and is a leading global multi-energy company with a…

Asharq Al-Awsat

ADNOC Awards $2Bln in Contracts for the Hail, Ghasha Gas Development Project

Abu Dhabi National Oil Company (ADNOC) announced Wednesday awarding two substantial contracts totaling AED7.49 billion ($2 billion) to ADNOC Drilling for the Hail and Ghasha Development Project. The contracts comprise AED4.89 billion ($1.3 billion) for integrated drilling services and fluids, and AED2.6 billion ($711 million) for the provision of four…

Asharq Al-Awsat

UAE Boosts ‘Self-Sufficiency’ Through Industrial Localization

UAE's Minister of Industry and Advanced Technology Sultan al-Jaber said that the COVID-19 pandemic and recent geopolitical challenges disrupted supply chains and affected the global economy, "an experience from which we extracted many lessons." The Minister explained that one of the most important lessons is that "regardless of global economic…

Asharq Al-Awsat

TAQA, ADNOC, Mubadala Enter Binding Agreements for Acquisition of Masdar Stake

Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company have entered into binding agreements for TAQA and ADNOC to purchase stakes in Abu Dhabi Future Energy Company (Masdar) from Mubadala, Emirates News Agency (WAM) reported Tuesday. This is a major milestone towards completing…

Asharq Al-Awsat

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Birmingham Post

North East deals of the week: key acquisitions, contracts and investments

Firms featuring in this week's round-up include Venture Stream, EV Metals Group, Kromek, Annimersion and Scott Logic

Birmingham Post

United Arab Emirates investors back bp's Teesside hydrogen project

ADNOC has acquired 25% of H2Teesside project which bp says will progress it to the next stage of design, while Masdar has signalled it will acquire a stake in HyGreen Teesside

Asharq Al-Awsat

UAE's ADNOC, BP and Masdar Forge Energy Partnership

The Abu Dhabi National Oil Company (ADNOC), oil major BP and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology hubs. Announcing their new-energy partnerships, ADNOC said the H2Teesside low-carbon hydrogen project with BP had moved into the design phase. Other partnerships include a…

Asharq Al-Awsat

UAE's ADNOC Announces Three New Oil Discoveries

Abu Dhabi National Oil Company (ADNOC) announced Thursday three oil discoveries including one at Bu Hasa, Abu Dhabi’s biggest onshore field, with a crude oil production capacity of 650,000 barrels per day (bpd).

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Asharq Al-Awsat

Abu Dhabi's Borouge to Sell 10% of Shares in IPO, List on ADX

Abu Dhabi National Oil Company (ADNOC) and its Austrian chemicals partner Borealis plan an initial public offering of their petrochemicals joint venture Borouge, the latest step in the Abu Dhabi state energy group’s asset monetization program. Borouge, which is a specialty plastics firm that produces polyolefin, said on Wednesday it…

Asharq Al-Awsat

UAE, Germany Boost Hydrogen Collaboration

Abu Dhabi National Oil Company (ADNOC) signed a new memorandum of understanding (MoU) and joint study agreements (JSA) with counterparts in Germany to boost and deepen collaboration in clean hydrogen. The agreements were announced during the visit of the German Federal Minister for Economic Affairs and Climate Action, Robert Habeck,…

Asharq Al-Awsat

ADNOC Awards Agreements Worth $658 Million to Local, International Firms

Abu Dhabi National Oil Company (ADNOC) announced awarding deals valued at $658 million (AED2.4 billion) for cementing services. The framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi (Halliburton), Baker Middle East (Baker), Emirates Western Oil Well Drilling & Maintenance Co. (Emirates Western), NESR Energy Services (NESR) and Emjel…

Asharq Al-Awsat

UAE to Develop Methanol Facility in Abu Dhabi

Abu Dhabi National Oil Company (ADNOC) signed an agreement with Proman, one of the world's leading methanol producers, to develop the UAE's first world-scale methanol production facility at the TAZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. Under the agreement, Abu Dhabi Chemicals Derivatives Company (TAZIZ) and Proman will construct…

Asharq Al-Awsat

UAE Minister: Investment in Oil, Gas Ensures Energy Security

Investment needs to focus on the lowest-cost, lowest-carbon oil and gas resources, said the United Arab Emirates Industry Minister, Sultan al-Jaber, at the Munich Security Conference. "For our collective security, the world will need to continue using all energy options for a long time," he was quoted as saying according…

Asharq Al-Awsat

ADNOC Reveals Framework Agreement Awards Valued at $1.94b to Expand Drilling Activity

The Abu Dhabi National Oil Company (ADNOC) announced Thursday a framework agreement awards valued at $1.94 billion to enable drilling growth. The awards will support ADNOC's strategy to boost crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drive gas self-sufficiency for the UAE. Minister…

Asharq Al-Awsat

Abu Dhabi's ADNOC Drilling Net Profit Rises 6.1% in 2021

Abu Dhabi's ADNOC Drilling reported on Friday a rise of 6.1 percent in net profit for last year, with revenues boosted by its onshore and oilfield services businesses. Net profit for 2021 was $603.9 million, up from $569 million in the year-earlier period. Revenues increased to $2.27 billion in 2021…

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