UAE and US officials announced that $20bn will be allocated to fund 15 new gigawatts (GW) of clean and renewable energy projects in the US before 2035, led by UAE’s Masdar and a consortium of US private investors
A summit highlight is the new one-day ENOWA ENACT conference on January 17 from the energy, water, and hydrogen subsidiary of NEOM
The agreement will build cooperation in areas such as environmentally sustainable transportation, sustainable fuels, biomass projects, waste conversion to energy, and carbon capture
Together, the parties will explore several hydrogen transportation methods, with a focus on liquid organic hydrogen carriers and liquid hydrogen
ADNOC Gas will serve domestic and international customers with an expanding portfolio of gas products
High-interest rates and a strong dollar have hit demand in the US, Europe and China
The company will launch projects involving carbon capture, electrification and new CO2 absorption technology, and also enhance investments in hydrogen and renewables
A surge in Covid-19 cases in China has clouded the near-term demand outlook
The business group will foster awareness of clean energy targets among local businesses and provide insights to drive the shift to renewable energy
On its completion, the project will have the largest thermal storage capacity in the world of 15 hours, allowing for energy availability around the clock
Super 98 petrol will cost Dh2.78 a litre, a further decrease from December’s price of Dhs3.30 per litre
Over the course of the year, ENOC has opened six new service stations across Dubai, including locations such as DAFZA, Dubai South and Dubai International City
Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year
Luberef, as the refiner is known, dropped as much as 6.6 per cent in Riyadh to SAR92.5 ($24.61), valuing the company at SAR15.9bn
The Luberef IPO marks the firm’s eighth private equity exit, and at SAR5bn the offering brings Jadwa’s aggregate private equity distributions to clients to SAR11bn
The project, expected to be valued at $2.4bn, will offset 2.4 million tonnes of carbon emissions per year and power 1.65 million households
The power plant will have a production capacity of 250 MW, a storage capacity of 1,500 Mwh, and a life span of up to 80 years once completed
The two companies will build a plant that will run on almost 1.3 gigawatts of solar power and is expected to produce hydrogen from 2026
The group now operates 177 service stations in the UAE
The companies boosted shareholder payouts in response even as many investors backed away from stronger climate advocacy
The acquisition is expected to close in the first half of 2023
The firm has signed a share purchase agreement to acquire Target Engineering Construction Company
The 15 new projects approved reflect OPEC Fund’s launch of a $1bn food security action plan and the adoption of its first dedicated climate action plan earlier this year
The three entities are exploring collaboration across refining and petrochemical projects in Saudi Arabia as well as China
Reducing the construction sector’s emissions has become vital to the larger goal of decarbonising the global economy
West Texas Intermediate futures traded near $76 a barrel and are up around 7 per cent this week
The facility is set to start operations in 2027
The project will sell electricity to state utility, Eskom, under a 20-year power purchase agreement
The trials will see Evocargo’s unmanned electric logistics vehicle navigate Dubai South’s Logistics District until February 2023
The company aims to operate a total fleet of at least 122 owned rigs by 2024