oil and gas

September 26, 2017

The Dubai Supreme Council of Energy on Monday announced its Annual Report for 2016 which showed that Dubai saved about seven per cent of electricity and over three per cent of water during the year.

The meeting was headed by Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, with Saeed Mohammed Al Tayer, Vice Chairman of Dubai Supreme Council of Energy, also present.

In addition, the report showed that the emirate saved 2.8 TWh of electricity and 3.7 billion gallons of desalinated water per year.

The"...

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September 26, 2017

The UAE has announced that it will 'definitely' operate its first of four nuclear reactors in 2018.

'We can say that next year is definitely going to be the year for opening the first nuclear reactor, we are trying to do it as fast as possible, but at the same time we have to be 100 per cent safe, 100 per cent in accordance with all the regulators.'

During a press conference held on Monday morning in the UAE Capital, Suhail Al-Mazroui, the Minister of Energy, told reporters that the four reactors, will supply 24-25 per cent of UAE's electricity.

"...

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September 26, 2017

(AETOS Wire)-- The emergency.lu Rapid Response Kit has been deployed by the Government of Luxembourg to provide vital satellite-enabled connectivity to the coordination center in Dominica, following the devastation brought by the Category 5 Hurricane Maria, announced SES and its partners today. The connectivity provided on an SES satellite is used for broadband and voice communication, to ensure that emergency services and first responders can stay informed and"...

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September 26, 2017

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the distribution center by Volkswagen AG, Germany (“VW Property”).

The VW Property was acquired in December 2014 with an objective of producing an average annual yield of 8.25% to investors, and an IRR of around 10% over a three-year holding period. The Property was leased entirely to Rudolph Automotive Logistik"...

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September 26, 2017

(AETOS Wire)-- Sintavia, LLC, the global independent leader for metal Additive Manufacturing (“AM”) services, and the TRUMPF Group, a leading high-technology company offering production solutions in the machine tool and laser sectors, today announced an agreement to work together to accelerate the penetration of TRUMPF TruPrint metal printers within the global aerospace industry. The agreement, which involves a TRUMPF TruPrint 3000 with industrial part and powder management being installed in Sintavia’s Davie, FL, manufacturing facility, marks the start of a new strategic alignment for both companies.

“TRUMPF"...

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September 26, 2017

(AETOS Wire)-- ABB and Northvolt have signed a Memorandum of Understanding (MOU) for a wide-ranging supply and technology partnership, including products and services for Northvolt’s state-of-the-art lithium-ion battery factory and close collaboration on development of battery solutions and R&D activities. ABB Technology Ventures (ATV) will support the initial phase of this project through an early investment.

Northvolt is going to build Europe’s largest and most advanced lithium-ion battery factory in Sweden. Supported by ABB’s industrial automation expertise, integrating robotics,"...

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September 25, 2017

The UAE’s solar energy sector is witnessing steady growth and is expected to account for almost 8 percent of total power capacity by 2026, according to new research.

On September 16, Dubai Electricity and Water Authority (DEWA) announced it had awarded the development of 700MW (megawatt) of solar power capacity to a consortium comprising Shanghai Electric and Acwa Power.

The contract marked the start of the fourth phase of the Muhammed bin Rashid Al Maktoum solar farm, and was the latest in a series of positive developments in the UAE solar sector over the course"...

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September 25, 2017

The UAE today announced the first five projects under the US$50 million UAE-Caribbean Renewable Energy Fund across Antigua and Barbuda, Bahamas, Barbados, Dominica, and St. Vincent and the Grenadines. The projects will significantly reduce energy costs in the region, as well as improve resilience to natural disasters, such as Hurricane Irma.

Announced in January 2017, the fund is a partnership between the UAE Ministry of Foreign Affairs and International Cooperation, MOFAIC, which leads the initiative, the Abu Dhabi Fund for Development, ADFD, which provides the grant financing, and Masdar, which is responsible for technical management and international"...

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September 25, 2017

Emirates Green Building Council, EmiratesGBC, an independent forum aimed at conserving the environment by strengthening and promoting green building practices, will launch the UAE’s first ‘Nearly Zero Energy Buildings’ (nZEBs) Report, followed by a discussion on its key findings on 27th September, 2017, at the Dubai Chamber of Commerce.

The event is supported by theDubai Chamber and is held in celebration of World Green Building Week 2017, which is being observed this year with the goal of making all buildings net zero by 2050, in a bid to win the fight against climate change.

Accordingly,"...

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September 25, 2017

  • Acquisition will strengthen ABB’s #2 global position in electrification
  • Non-core GE business with significant value creation potential within ABB
  • Expands ABB’s access to the North American market through deep customer relationships, large installed base and extensive distribution networks
  • Long-term usage of GE brand agreed
  • Purchase price of $2.6 billion
  • Potential for annual cost synergies of approximately $200 million
  • ABB and GE establish long-term, strategic supply relationship for ABB products
  • Operational EPS accretive in year one
  • Closing expected in H1 2018

(AETOS Wire)--"...

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