oil and gas

October 12, 2019

(WAM) -- A consortium led by Masdar, a subsidiary of Mubadala Investment Company and one of the world’s leading renewable energy companies, today inaugurated Cibuk 1, the largest utility-scale commercial wind project in Serbia and the Western Balkans.

The inauguration of the 300 million-euro project was attended by Aleksandar Vucic, President of the Republic of Serbia, Aleksandar Antic, Serbia’s Minister of Mining and Energy, and other high-level government officials from both Serbia and the United Arab Emirates, includingDr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, Mubarak Saeed Al Dhaheri, UAE Ambassador"...

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October 10, 2019

The Abu Dhabi National Oil Company is pursuing a balanced growth strategy including 'responsible production' to meet the world’s long-term energy demand, according to Dr Sultan Al Jaber, Minister of State and Adnoc Group chief executive.

Speaking at the 40th Oil and Money Conference in London, hosted by Energy Intelligence, Dr Al Jaber said that short term energy demand 'has continued to soften' in response to current global economic uncertainty.

'Over the medium and long-term, the outlook remains positive, solid, and robust. By 2040, three"...

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October 9, 2019

Fluor Corporation (NYSE: FLR) announced today that a consortium of Fluor, JGC Corporation of Japan and TechnipFMC of France was awarded an engineering, procurement and construction contract by Mozambique Rovuma Venture S.p.A. (MRV) for its Mozambique Rovuma Liquefied Natural Gas (LNG) Phase 1 Project in Cabo Delgado, Mozambique with an immediate release of a limited notice-to-proceed. Fluor will book its portion of this work in the fourth quarter of 2019.

“Fluor"...

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October 8, 2019

Rockwell Automation, the world's largest company dedicated to industrial automation and information, has announced the appointment of Sebastien Grau as regional sales director for the Middle East, Turkey and Sub Saharan Africa.

Welcoming Grau to his new role, Rockwell Automation EMEA president Susana Gonzalez said: “We are excited that Sebastien has joined our team and will help us further align and connect even more across our key markets of the Middle East, Turkey and Sub Saharan Africa.”

"...

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October 7, 2019

Dubai Multi Commodities Centre (DMCC) and Jebel Ali Free Zone (Jafza) have signed an agreement that will bring warehousing solutions and logistic services to member companies registered in the DMCC Free Zone.

Dubai Multi Commodities Centre (DMCC), a leading free zone and DP World, UAE Region through its subsidiary Jebel Ali Free Zone (Jafza) have signed an agreement that will bring warehousing solutions and logistic services to member companies registered in the DMCC Free Zone.

Ahmed Bin Sulayem, executive chairman and chief executive officer, DMCC, said: “Since its establishment almost thirty-five years ago, JAFZA has played a crucial role in making Dubai the global centre for trade it"...

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October 7, 2019

ABU DHABI, 6th October, 2019 (WAM) -- The Abu Dhabi Securities Exchange Sunday listed the Emirate of Abu Dhabi Global Medium Term Note Programme total amount of US$ 10,000,000,000 in three tranches, according to ADX's official website.

Demonstrating strong investor confidence in its solid credit fundamentals, the Emirate of Abu Dhabi on 23rd September 2019 successfully priced a US$10 billion multi-tranche international bond offering.

The transaction comprised three tranches: (i) US$3 billion -2.125 percent- due in 2024, which priced at 65 bps over US Treasuries;"...

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October 3, 2019

RIYADH, 2nd October, 2019 (WAM) -- The fourth phase of the Mohammed bin Rashid Al Maktoum, MBR, Solar Park, Noor Energy 1, has become the first project in the GCC region to receive the 'Climate Bonds Initiative', CBI, certification for Renewable Energy Project Financing, supporting efforts towards meeting the Dubai Clean Energy Strategy 2050.

The flagship project is a collaboration between the Dubai Electricity and Water Authority, DEWA; ACWA Power, a leading Saudi developer, owner, and operator of power generation and water desalination plants; and the Silk Road Fund.

Noor"...

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October 3, 2019

ABU DHABI, 2nd October, 2019 (WAM) -- The UAE Ministry of Education, the Abu Dhabi National Oil Company, ADNOC, and Bloomberg L.P. signed today a Memorandum of Understanding, MoU, to implement a training and development programme -- called the ADNOC-Bloomberg Education Initiative.

The initiative is designed to equip a new generation of students with the specialised financial skills needed to excel in a dynamic, globally connected world.

By learning the fundamentals of global capital markets – and the role financial information and analytics play in the investment"...

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October 2, 2019

FUJAIRAH, 1st October, 2019 (WAM) -- Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO, was honoured today with the 'New Silk Road CEO of the Year Award' for his outstanding contribution to enabling the flow of energy across the fast-growing economies of Asia.

The award was presented to him by Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Department of Industry and Economy of Fujairah, at the 9th Gulf Intelligence Energy Markets Forum, held in Fujairah. The event was held under the patronage of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah.

The"...

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October 2, 2019

FUJAIRAH, 1st October, 2019 (WAM) -- H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, stated that the UAE has developed a business strategy to keep pace with rapid global developments in the energy sector.

This strategy ensures that the nation can deal with the challenges facing the sector, as well as exploit opportunities in the areas of trade, storage, bunkering, shipping, refining and ports, he added.

Sheikh Hamad also pointed out that Fujairah, which has benefitted from its geographic location and strategic vision, recently"...

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