The partnership will see up to 100 per cent of ADNOC’s grid power supplied by EWEC’s nuclear and solar clean energy sources
Oil is set for a monthly gain in October, building on six quarterly advances
The kingdom will establish a fund to improve carbon-capture technology and back an initiative to develop clean fuels
The kingdom also has plans to export green hydrogen
Oil has more than doubled over the past 12 months as the global economy rebounded from the dislocation caused by the coronavirus pandemic
It involves an investment of SAR700bn, with the minister of energy adding that the initiative will not have an adverse economic impact on oil exporters
The consortium, led by Washington-based EIG Global Energy Partners, may raise at least $4.5bn
The deal reflects Mubadala Capital’s foray into the food and beverage sector, where it invested about $1.8bn in the past seven years alone
The funds were deposited with HSBC in the UAE
Citigroup raised its fourth-quarter Brent forecast to $85 a barrel
Qatar decided to leave the cartel in late 2018
The listing is one of the largest offerings in the kingdom since Saudi Aramco’s IPO in 2019
ACWA Power is now valued at $14.2bn, making it one of the biggest listed companies in Riyadh
Crude has gained more than 60 per cent this year as the roll-out of Covid-19 vaccines lifted movement curbs and, subsequently, oil demand
The UAE will spend over Dhs600bn on renewable energy until 2050
Iraq is aiming to increase the percentage of renewables to 20-25 per cent in its power production capacity by the end of the decade
US crude inventories expanded by 2.35 million barrels last week
The adoption of new technologies is set to transform the functioning of the energy and utilities sector as it transitions to a sustainable future
The electricity crisis is roiling energy markets from Europe to Asia
The IPO will be the largest-ever listing on the bourse
This is the first payment in what is expected to be a full-year 2021 dividend payment of Dhs2.57bn
The shortage of natural gas, which has sent prices to the equivalent of $190 a barrel, is spurring a switch to oil products for heating and manufacturing
The competition will be – for the first time in its history – linked to a World Expo
OPEC said on Tuesday that it expects global fuel consumption to fully recover from its pandemic slump by 2023
The consortium is expected to increase job opportunities
Oil has soared this year as the roll-out of vaccines to combat the pandemic aids energy demand
Total gross demand for the IPO amounted to over $34bn
The offer price of Dhs2.30 per share remains unchanged
Benchmark Brent crude is currently trading around $75 a barrel, up 45 per cent this year
The $1.2bn IPO by ACWA Power International had initial demand amounting to several billion dollars