oil and gas

November 23, 2017

Abu Dhabi National Oil Company, ADNOC, will announce the price range of its fuel distribution business, ADNOC Distribution, on November 26.

ADNOC has announced recently its plans to sell at least 10 percent of its stake in its fuel retail business in an initial public offering, IPO. The listing will be on the Abu Dhabi bourse and will be subject to relevant regulatory approvals, including those by the UAE Securities and Commodities Authority, and the Abu Dhabi Securities Exchange, ADX.

Mohamed Al Hashemi, Director of the Investment Department at ADNOC Group, has stated"...

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November 23, 2017

The 6th International Water Summit, IWS, will be hosted by Masdar as part of Abu Dhabi Sustainability Week under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on January 15-18, 2018.

A leading event for promoting water sustainability in arid regions, the summit provides an extensive exhibition, a high-level conference and an exclusive matchmaking platform, offering a unique opportunity for stakeholders to witness and learn more about the latest innovative technologies impacting the industry.

Hosted"...

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November 22, 2017

Masdar City has been named 'Best Free Zone for Start Up Support' by the Financial Times and has collected three other prestigious global awards.

The Global Free Zone of the Year Awards, hosted by the FT’s fDi Magazine, are among the most high-profile awards in the free zone sector, with approximately 65 free zones entering this year’s competition. This is Masdar City’s second consecutive year receiving awards.

In addition to the Best Free Zone for Start Up Support award, Masdar City took home awards for Best Free Zone for Renewable Energy,"...

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November 22, 2017

A recent report issued by the Statistics Centre - Abu Dhabi, SCAD, has revealed that the production of electricity from solar energy in the Emirate of Abu Dhabi reached 280,085 MW per hour, a growth of 6.1 percent compared to 2015.

The Abu Dhabi government has given considerable attention to renewable energy as part of its efforts to diversify energy sources; this is evidenced by many of the projects implemented by Abu Dhabi Future Energy Company, Masdar.

According to the report, the volume of electricity consumption increased by 54.5 percent during the period from"...

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November 21, 2017

OPEC needs to extend limits on oil output to help rein in the remaining excess in global supply, but isn’t considering making deeper cuts, the United Arab Emirates energy minister said.

The group is talking about prolonging production curbs when its members meet at the end of the month and won’t discuss any increase in the size of the cuts, Energy Minister Suhail Al Mazrouei said Monday in Abu Dhabi.

About 158 million barrels in surplus oil inventories still need to be cleared, he told reporters.

“The"...

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November 21, 2017

Abu Dhabi National Oil Co (Adnoc) said on Monday it may sell as much as a 20 per cent stake in its fuel distribution unit, potentially raising up to $2.8 billion.

Analysts valued the total fuel distribution unit at between $11 billion and $14 billion in reports prepared by banks advising the firm on the planned listing, sources have told Reuters.

If Adnoc raises as much as $2.8 billion, it would be the biggest initial public offering (IPO) in the UAE since 2007 when DP World raised nearly $5 billion, according to Thomson Reuters data.

Abu"...

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November 20, 2017

Etihad Energy Services Company (Etihad Esco) has been awarded the contract for the development, and installation of solar photovoltaic (PV) systems at Dubai Electricity and Water Authority (Dewa) water reservoirs.

The installation of solar PV systems on Dewa’s water reservoirs will reduce the emirate’s carbon footprint and increase the proportion of solar power in Dubai's energy mix, said a statement from Esco.

'The installation of solar PV systems at Dewa water reservoirs comes under the implementation of the vision of the Vice President, Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum,"...

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November 19, 2017

More than US$10 billion worth of deals were signed at last week’s Abu Dhabi International Petroleum Exhibition Conference (Adipec), which proved to be the largest in the event’s 20-year history.

As oil prices rally to around $62 per barrel after a persistent dip since 2014, the world’s most prominent oil and gas majors congregated at a show that saw an estimated 103,000 visitors over the course of the week, demonstrating a renewal of market sentiment.

Headline news included plans revealed by Dr Sultan Ahmed Al Jaber, UAE Minister of State and group"...

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November 18, 2017

Abu Dhabi National Oil Company, ADNOC, has signed a Memorandum of Understanding with the Linde Group to explore the expansion of nitrogen facilities in Ruwais, Abu Dhabi, to meet future industrial demand. This represents a continued commitment to joint business development by the two partners under the auspices of the joint venture, ADNOC Industrial Gases, established 10 years ago.

As a first step under the agreement, Linde will carry out a Front-End Engineering and Design, FEED, study for new Air Separation Units, which are intended to satisfy the expanding nitrogen requirements of ADNOC’s gas processing, petrochemicals and refining businesses."...

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November 16, 2017

The Abu Dhabi National Oil Company, ADNOC, has announced plans to launch Umm Lulu Crude Oil, a new crude blend produced from its Umm Lulu and SARB fields, operated by ADNOC Offshore.

Umm Lulu Crude Oil, which has an expected API density of around 39 degrees and sulphur content of around 0.7 percent weight percent, is a light crude, rich in light middle distillates with a low sulphur and metal content. The first exports of Umm Lulu Crude Oil are anticipated in Q1 2018, and production will increase gradually over the coming five-year period.

Abdulla Salem Al Dhaheri,"...

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