#energy

UAE raises fuel prices for March 2022

It is the second straight month that fuel prices have risen

Bahrain to hire advisers for privatisation of state oil firms

Bahrain produces about 200,000 barrels a day

Saudi oil discovery

Saudi announces discovery of natural gas fields across four regions

Saudi Aramco has discovered the five fields that can produce over 100 million cubic feet per day of natural gas in total 

Brent oil hits $100 a barrel for the first time since 2014

Russia is a key supplier of energy to global customers

Vitol CEO sees oil above $100 for a ‘prolonged period’ this year

Energy supplies are struggling to keep up with a robust economic recovery

Getty Images

Explainer: Is the UAE ready to mainstream nearly zero energy buildings?

Green building strategies can be used to design and build healthy, comfortable, cost efficient and environmentally friendly living and working environments

UAE’s EGA plans to build first aluminium recycling facility

Feasibility studies for the project are underway

Global emissions from buildings, construction climb to record levels

Dubai to reduce almost a third of its carbon emissions by 2030

The Dubai Supreme Council of Energy approved updated plans for the programme that will help the UAE meet its net-zero goal by 2050

Dubai Electricity and Water Authority

Dubai’s energy demand grows 10% y-on-y in 2021

Energy demand in 2021 reached 50,202 gigawatt-hours compared to 45,712 gigawatt-hours in 2020

UAE launches Etihad 7 programme to fund renewable energy projects in Africa

The programme aims to supply clean electricity to 100 million people by 2035

Mohammed bin Rashid Al Maktoum Solar Park

Production in Dubai’s Mohammed bin Rashid Al Maktoum Solar Park increases to 330MW

The clean energy share is currently 11.38 per cent of Dubai’s energy mix, and will reach 13.3 per cent in Q1 2022

SEWA completes nine new power plants in Sharjah last year

It undertook a number of development projects and network improvements worth over Dhs480.8m in 2021

Dubai Electricity and Water Authority DEWA

DEWA commissioned 1,310 11kV distribution stations in Dubai in 2021

These stations are mainly spread across Mohammed bin Rashid Gardens, Airport City, Wadi Al Safa, and Al Yafra 2

Dana gas

Dana Gas reports 2021 collections from Egypt and Kurdistan of $377m

It marked a 107 per cent year-on-year rise over the $182m it received in 2020

Manchester City announces global partnership with Abu Dhabi’s Masdar

Masdar is focused on developing renewable energy projects across the Middle East and North Africa and broader international markets

OPEC+ seen reviving output in sign of confidence for 2022 demand

The 23-nation alliance is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic

Qatar capital Doha

Qatar pushes Gulf Arab energy company borrowing to record high

Gulf Arab energy firms borrowed $30.5bn in 2021, the highest level in at least 25 years

Three learnings for businesses to carry into 2022

We must all continue to drive the social and governance agendas across our operational premises too in 2022

Abu Dhabi’s ADNOC, Taqa announce $3.6bn project to decarbonise offshore operations

The project is expected to reduce the carbon footprint of ADNOC’s offshore operations by more than 30 per cent

Rolls-Royce to get Qatari funding for small nuclear reactors

Qatar will invest $112m in Rolls-Royce SMR, the separate unit created for the project

Oil extends losses on omicron spread uncertainty

Oil’s drop this week has eaten into a partial recovery from a bear market at the end of November

Abu Dhabi’s ADNOC announces new oil and gas discoveries

The discoveries of up to 1 billion barrels of oil equivalent have been made at an exploration well in Onshore Block 4 concession

oil-big7

Saudi Arabia warns traders against shorting oil prices

While oil has soared about 45 per cent this year, it slumped more than 10 per cent on November 26, the day after Thanksgiving

Saudi oil minister says global production could plunge 30% this decade

“We’re heading toward a phase that could be dangerous if there’s not enough spending on energy,” he said

Carbon markets

Dubai reduces 33% of carbon emissions in 2020

Dubai aims to become a carbon-neutral economy by 2050

Dubai plans to list district cooling firm Empower in IPO push

The government said last month it wants to sell shares in 10 companies, and it has been encouraging private and family-owned businesses to follow suit

DEWA NEW CENTRE

Dubai’s DEWA inaugurates new visitor centre in fourth phase of mega solar park

The 950MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park has investments totalling Dhs15.78bn based on the IPP model

ADNOC Drilling

UAE’s ADNOC Drilling reports net profit of $460m for first nine months of 2021

Its revenue increased 12 per cent year-on-year in the first nine months of 2021 to $1.7bn

Saudi economy grows at fastest rate in nearly a decade

Gross domestic product expanded by 6.8 per cent compared to the same quarter of 2020

Abu Dhabi

UAE, IRENA launch $1bn platform to finance renewable energy transition

The UAE has committed $400m in funding, provided by the Abu Dhabi Fund for Development, for the Energy Transition Accelerator Financing Platform