oil and gas

February 22, 2018

The Sharjah Electricity and Water Authority (Sewa) and Dorman Smith Academy briefed contracting and consultancy companies about importance of using conservation devices.

The academy conducted a technical seminar in Sharjah on reactive power compensation, which dealt with the basics of the electrical power factor, methods to improve it and suitable products and solutions for it.

With massive residential, commercial and industrial development witnessed in the UAE, the demand for electrical energy is also growing continuously. Efficient ways of generating, transmitting"...

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February 22, 2018

Dr. Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, today visited the Barakah Nuclear Energy Plant, where he witnessed the Emirates Nuclear Energy Corporation's, ENEC's, commitment to sustainability and environmental protection. Dr. Al-Zeyoudi also observed the significant progress being made across all four nuclear energy units being built at the plant in the Al Dhafra region.

Dr. Al-Zeyoudi was welcomed by Mohamed Al Hammadi, ENEC Chief Executive Officer, Ahmed Al Rumaithi, ENEC Deputy Chief Executive Officer, and senior management.

He"...

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February 21, 2018

With the Opec and non-Opec alliance working to eliminate the remaining glut on the oil market amounting to 75 million barrels, the UAE energy minister said stability was slowing returning and the market was likely to rebalance this year.

The Opec deal was working fine thanks to the co-operation from non-Opec group, mainly Russia, which is a critical country to the group. The understanding between the different countries participating in this group have increased significantly from where we started last year, remarked UAE Minister of Energy Suhail Al Mazrouei while speaking to Bloomberg TV.

'We have done the optics and the inventories have been declining. We have removed from last year till"...

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February 21, 2018

H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent, ERC, on Tuesday launched the Zayed World Humanitarian Renewable Energy Initiative, Al Hayat, as part of the ERC's programmes for the Year of Zayed 2018.

Sheikh Hamdan said that the initiative a joint partnership between the ERC and the Abu Dhabi Future Energy Company, Masdar comes within the UAE's efforts, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan and with the support of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His"...

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February 19, 2018

The Abu Dhabi National Oil Company (Adnoc) signed on Sunday a Dh5.5 billion offshore concession agreement with Cepsa, which wholly-owned by Abu Dhabi's Mubadala Investment Company.

As per the agreement, Cepsa, a Spanish integrated oil and gas company, was awarded a 20 per cent stake in Abu Dhabi's offshore Sarb and Umm Lulu concession.

The new concession is the second awarded by Adnoc this month. On February 10, Adnoc awarded a 10 per cent interest in its Lower Zakum offshore concession to a consortium of Indian companies led by ONGC Videsh in a Dh2.2 billion"...

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February 18, 2018

Dubai Electricity and Water Authority (Dewa) held discussions with technology giant General Electric (GE) to boost co-operation in developing services and projects to enhance its position as one of the best utilities in the world.

The duo met during the recently held World Government Summit 2018, and discussed co-operation in digital technologies, Artificial Intelligence (AI), sustainability, energy efficiency, smart grids, innovation, energy storage, and other technologies to improve efficiency in the production, transmission and distribution of energy and water.

"...

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February 18, 2018

The UAE will remain committed to the global oil output reduction deal to eliminate the remaining glut on the market which amounts to 100 million barrels to reach the average target of the coming five years, according to Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry.

Opec and non-Opec commitment to the cut deal has significantly reduced the global crude reserves by more than 220 million barrels at OECD countries since the beginning of 2017 as compared to the average recorded over the previous five years, the minister said in a press statement at the Ministry's premises in Abu Dhabi on Saturday.

'Compliance"...

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February 17, 2018

Total refined oil product stocks at the Port of Fujairah stood at 16.318 million barrels in the week to Monday, down three percent from the previous week, latest data from the Fujairah Energy Data Committee, or FEDCom, showed.

Stocks of heavy distillates and residues fell 24.3 percent week on week to a record low of 5.298 million barrels.

'A flat market structure is not supportive of storing fuel oil, while sluggish bunker demand and the end of utility grade fuel oil imports from Fujairah by Pakistan have also weighed on appetite to hold volumes in stock,'"...

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February 15, 2018

r financial year 2017, following their listing on the Abu Dhabi Securities Exchange in December last year.

Revenue increased in 2017 to AED 19.8 billion (USD 5.39bn), according to preliminary, unaudited financial statements reported to the Abu Dhabi Securities Exchange. EBITDA was up to AED 2.3 billion (USD 621m) and profit for the year rose to AED 1.8 billion (USD 491m).

ADNOC Distribution’s audited results for 2017 are due to be released on 25th February.

ADNOC Distribution listed"...

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February 14, 2018

Dubai Electricity & Water Authority (DEWA) will spend 81 billion dirhams ($22 billion) on energy projects over the next five years, with renewables accounting for a growing share of electricity output, CEO Saeed Mohammed Al Tayer said.

DEWA last week awarded a contract for a 815-megawatt gas turbine project in the Dubai suburb of Al Aweer to Germany’s Siemens AG and Egypt’s El Sewedy Power, Al Tayer said in a Bloomberg television interview.

The company is also building the world’s largest solar energy park as it seeks to reduce reliance on natural"...

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