Company Insights Adnoc Oil & Gas Adnoc News Analysis Energy Adnoc chasing global growth with latest venture Abu Dhabi National Oil Company (Adnoc) is creating a dedicated unit for low carbon solutions and international business. It is an attempt to monetise the decarbonisation strategy mandated to it by its board and the wider UAE government. But the company must ensure that any future overseas work does not cannibalise that of the Abu […] December 7, 2022 Energy Adnoc inks first unconventional oil deal State-owned Abu Dhabi National Oil Company (Adnoc) and Malaysia’s Petroliam Nasional Berhad (Petronas) have signed a deal awarding the first concession in the Middle East for unconventional oil resources, the UAE state news agency WAM said. The six-year agreement is the first investment by a Malaysian company in an Abu Dhabi concession. Petronas will retain […] December 6, 2022 Analysis Banking & Finance Dubai’s wealth fund hunts for opportunities after H1 profit The Investment Corporation of Dubai (ICD) said it would remain “cautious and selective” when making new investments, having reported a tenfold annual increase in net profit to $4 billion for the first six months of 2022. Described by ICD as “exceptional”, the results mark a return to pre-pandemic-level earnings by the Dubai sovereign wealth fund, […] December 2, 2022 Energy UAE’s Adnoc brings forward oil output capacity target to 2027 The board of Abu Dhabi National Oil Company (Adnoc) has approved plans to bring forward the company’s five million barrel per day oil production capacity expansion to 2027, from a previous target of 2030. The accelerated production capacity target is underpinned by the UAE’s robust hydrocarbon reserves, which have increased by two billion stock tank […] November 29, 2022 Analysis Energy UK minister stresses commitment to GCC’s clean energy transition The UK is committed to remaining a “steadfast friend and partner” to Gulf countries as they continue to drive the clean energy transition and one of the most rapid economic transformations in history. British foreign secretary James Cleverly also hailed the development of “spectacular cities” rising from empty deserts in a speech at the Manama […] November 23, 2022 Banking & Finance School operator Taaleem up next in string of Dubai IPOs UAE schools operator Taaleem Holdings is the latest in Dubai’s string of initial public offerings (IPOs) as the emirate continues to open up key state-owned assets for investment. Dubai’s privatisation drive this year to raise revenue and boost investor interest includes the listing of 18 percent of utility company Dewa on the Dubai Financial Market. It […] November 18, 2022 Energy Gulf’s largest national oil driller sees third quarter profit rise 24% ADNOC Drilling, the largest national driller for oil in the Middle East, has posted an industry-leading EBITDA of 45.3 percent in its third quarter financial results. The firm, which celebrated its first anniversary since listing on the emirate’s ADX exchange last month, saw its net profit for the nine-month period rise 24 percent to $568 […] November 14, 2022 Banking & Finance Apicorp signs $75m carbon offset financing deal with UK firm The Arab Petroleum Investments Corporation (Apicorp), a Saudi-headquartered, energy-focused development financial institution, has signed a $75 million Islamic financing agreement with a British firm to fund high-quality carbon offsets, supporting the Gulf’s net zero emission targets. The agreement, known as a Murabaha, is an Islamic financing facility where a financier will purchase an asset and […] November 7, 2022 Analysis Energy Middle East under pressure to fill oil gap left by Russia The Gulf states are in prime position to plug the global energy gap caused by the Ukraine war, but other countries must also step up, experts said this week at Adipec, the region’s top energy event. In recent months, the UAE and Qatar have been in talks with Europe to sell gas to those who […] November 4, 2022 Economy UK exports to Arab countries up 20% to $38bn in 2022 The UK’s exports to Arab countries have posted a 20 percent year-on-year increase, standing at £33.6 billion ($38.26 billion), and are expected to rebound to pre-pandemic levels. “While exports have remained broadly flat between 2020 and 2021, we have seen a 20 percent recovery so far this year and we anticipate that our total trade […] November 3, 2022 Posts navigation Previous 1 … 41 42 43 … 47 Next
Analysis Energy Adnoc chasing global growth with latest venture Abu Dhabi National Oil Company (Adnoc) is creating a dedicated unit for low carbon solutions and international business. It is an attempt to monetise the decarbonisation strategy mandated to it by its board and the wider UAE government. But the company must ensure that any future overseas work does not cannibalise that of the Abu […] December 7, 2022
Energy Adnoc inks first unconventional oil deal State-owned Abu Dhabi National Oil Company (Adnoc) and Malaysia’s Petroliam Nasional Berhad (Petronas) have signed a deal awarding the first concession in the Middle East for unconventional oil resources, the UAE state news agency WAM said. The six-year agreement is the first investment by a Malaysian company in an Abu Dhabi concession. Petronas will retain […] December 6, 2022
Analysis Banking & Finance Dubai’s wealth fund hunts for opportunities after H1 profit The Investment Corporation of Dubai (ICD) said it would remain “cautious and selective” when making new investments, having reported a tenfold annual increase in net profit to $4 billion for the first six months of 2022. Described by ICD as “exceptional”, the results mark a return to pre-pandemic-level earnings by the Dubai sovereign wealth fund, […] December 2, 2022
Energy UAE’s Adnoc brings forward oil output capacity target to 2027 The board of Abu Dhabi National Oil Company (Adnoc) has approved plans to bring forward the company’s five million barrel per day oil production capacity expansion to 2027, from a previous target of 2030. The accelerated production capacity target is underpinned by the UAE’s robust hydrocarbon reserves, which have increased by two billion stock tank […] November 29, 2022
Analysis Energy UK minister stresses commitment to GCC’s clean energy transition The UK is committed to remaining a “steadfast friend and partner” to Gulf countries as they continue to drive the clean energy transition and one of the most rapid economic transformations in history. British foreign secretary James Cleverly also hailed the development of “spectacular cities” rising from empty deserts in a speech at the Manama […] November 23, 2022
Banking & Finance School operator Taaleem up next in string of Dubai IPOs UAE schools operator Taaleem Holdings is the latest in Dubai’s string of initial public offerings (IPOs) as the emirate continues to open up key state-owned assets for investment. Dubai’s privatisation drive this year to raise revenue and boost investor interest includes the listing of 18 percent of utility company Dewa on the Dubai Financial Market. It […] November 18, 2022
Energy Gulf’s largest national oil driller sees third quarter profit rise 24% ADNOC Drilling, the largest national driller for oil in the Middle East, has posted an industry-leading EBITDA of 45.3 percent in its third quarter financial results. The firm, which celebrated its first anniversary since listing on the emirate’s ADX exchange last month, saw its net profit for the nine-month period rise 24 percent to $568 […] November 14, 2022
Banking & Finance Apicorp signs $75m carbon offset financing deal with UK firm The Arab Petroleum Investments Corporation (Apicorp), a Saudi-headquartered, energy-focused development financial institution, has signed a $75 million Islamic financing agreement with a British firm to fund high-quality carbon offsets, supporting the Gulf’s net zero emission targets. The agreement, known as a Murabaha, is an Islamic financing facility where a financier will purchase an asset and […] November 7, 2022
Analysis Energy Middle East under pressure to fill oil gap left by Russia The Gulf states are in prime position to plug the global energy gap caused by the Ukraine war, but other countries must also step up, experts said this week at Adipec, the region’s top energy event. In recent months, the UAE and Qatar have been in talks with Europe to sell gas to those who […] November 4, 2022
Economy UK exports to Arab countries up 20% to $38bn in 2022 The UK’s exports to Arab countries have posted a 20 percent year-on-year increase, standing at £33.6 billion ($38.26 billion), and are expected to rebound to pre-pandemic levels. “While exports have remained broadly flat between 2020 and 2021, we have seen a 20 percent recovery so far this year and we anticipate that our total trade […] November 3, 2022
