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Adnoc News

An aerial view of the Port of Fujairah

Fujairah’s ship is coming in – and bringing tourists as well as trade

Fujairah’s position on the Gulf of Oman coast has become its defining characteristic. The location has helped the emirate build a thriving maritime sector and given the rest of the UAE an alternative to the Strait of Hormuz.  The Port of Fujairah opened in the early 1980s and successive development projects have added berths and […]

Sultan Al Jaber, Adnoc's group CEO, launched its plan to monetise assets more than four years ago

Adnoc Gas IPO tipped to break record for Abu Dhabi exchange

Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […]

GCC construction contracts

Gulf project contracts to hit $110bn this year

A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans.  Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […]

People, Person, Man

Middle East stock markets set to continue strong run of IPOs

The stock markets in the Middle East and North Africa are preparing for a strong pipeline of initial public offerings (IPOs) in the coming months. Bourses across the region are looking to build on the success of 2022 when it saw a record number of 51 IPOs and combined proceeds of $22 billion. Abu Dhabi […]

Halliburton's president and CEO Jeff Miller and Aramco's senior vice president of upstream Nasir Al-Naimi arrive for a ceremony to inaugurate the first Halliburton Chemical Reaction Plant in Saudi Arabia

Energy giant Halliburton expects Middle East to fuel growth

US energy firm Halliburton predicts its international activity will grow at least in the “mid-teens” this year, driven by upcoming works in the Middle East and Latin America. During its latest earnings call the oilfield services company revealed $5.6 billion in total revenue for the third quarter of 2022, up 18 percent from $5.4 billion […]

South Korea UAE visit
  • Analysis

Korea prospects high as President Yoon courts GCC free trade deal

Negotiations are continuing on a free trade deal with GCC countries which will make “enormous contributions” to expanding relations, South Korea’s President Yoon Suk Yeol has said. “I hope that the Korea-GCC FTA will become a forward-looking agreement that contributes to our two countries’ joint endeavours of responding to new challenges including climate change, supply […]

Masdar

Masdar chief: Everyone is on board with climate change

Once viewed with scepticism, the discussion around climate change and securing a sustainable energy pathway to net zero has now become the accepted mainstream view, according to the CEO of Masdar. Founded 16 years ago, the UAE-owned renewable energy firm has a presence in 40 countries, with a capacity of 20gw, made up of operational […]

Worker at an oil shale power plant. The white paper calls on the UAE and UK to help oil and gas workers transfer their skills to renewable industries

UAE-UK Business Council unveils blueprint for energy transition

The UAE and UK must step up co-operation on clean energy if they are to meet their decarbonisation targets, the UAE-UK Business Council has said. The council’s energy transition white paper, published on January 17, said there was “an untapped commercial opportunity to be exploited from closer collaboration between both countries in terms of developing […]