Skip to content Skip to Search
Skip navigation


Frédéric Claux, Engie’s managing director of flexible generation and retail for Asia Pacific, Middle East and Africa

PIF and Engie to collaborate on green hydrogen 

French utilities firm Engie and Saudi Arabia’s Public Investment Fund have signed an initial agreement to develop green hydrogen projects in the kingdom, building on Gulf ambitions to become a world leader in the fast-growing renewable energy segment. Under the memorandum of understanding signed this week, Engie and PIF will explore opportunities to jointly develop […]

People, Person, Blazer

Pakistan looks to UAE for trade deals, not loan debts

The UAE confirmed late on Wednesday it has deposited $1 billion in Pakistan’s central bank, a day after Saudi Arabia also transferred $2 billion. In addition to direct funding, the Islamabad government is aiming to attract multi-billion dollar investments from the UAE and other Gulf countries to create millions of new jobs after struggling with […]

Sheikh Mohammed and the rest of the UAE cabinet approved the national hydrogen strategy

UAE pledges $54bn for renewable energy

The UAE has vowed to treble its renewable energy investment over the next seven years, investing up to AED200 billion ($54 billion) as climate experts warn the world is losing the race to reduce global warming. The Emirati cabinet – chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE prime minister and ruler of […]

Oman signs two green hydrogen deals worth $10bn

Hydrom, a subsidiary of state-owned Energy Development Oman, has signed agreements worth $10 billion to develop two new green hydrogen production projects. The deals were signed with the Posco-Engie and Hyport Duqm consortiums, state news agency Oman News Agency reported. The projects, located in the Al Wusta governorate, are expected to have a total production […]

French Saudi investment forum

Saudi and France to ‘unleash potential’ after $2.9bn deals

Saudi Arabia and France will work together to “unleash the full potential” of their trade relationship as they look beyond traditional sectors such as energy. That was the message from Saudi investment minister Khalid Al-Falih at the conclusion of the French-Saudi Investment Forum. Last year, French-Saudi trade volumes increased by more than 80 percent to […]

Oman energy minsiter Salim Al-Aufi hydrogen plans

Oman ready to be global hydrogen player

Oman will need cumulative investment of around $33 billion if it wants to scale up production of renewable hydrogen to 1 million tonnes by 2030. The sultanate is on track to become the sixth-largest exporter of hydrogen globally and the largest in the Middle East by 2030, according to analysis by the Paris-based International Energy […]

Clean energy and tech driving UAE-Scotland trade

Clean energy and tech power UAE-Scotland trade

It’s a long way from the icy waters of the North Sea to the saline depths of the Straits of Hormuz, but the world’s first offshore floating wind farm is proof of a burgeoning arrangement between Scotland and the UAE. Masdar, the UAE’s government-owned clean energy company, has a 25 percent stake in the 30 […]

Oman green hydrogen projects

Oman signs 3 green hydrogen projects worth over $20bn

Hydrogen Oman SPC (Hydrom), a subsidiary of Energy Development Oman, has signed three deals to develop green hydrogen projects with investments worth over $20 billion. The three projects were signed with the consortia of Amnah, Green Energy Oman and BP Oman. They are expected to yield a total production capacity of half a million tonnes […]

Outdoors, Water, Waterfront

France’s Engie sees UAE investments grow to $12bn

French energy company Engie has invested $12 billion (AED44 billion) in energy, water desalination and green hydrogen projects in the UAE. The investments are across several strategic projects, Frederic Claux, managing director flexible generation and retail, Africa Middle East Asia at Engie, told the UAE state-run WAM news agency. The projects include Al Ajban solar PV, water […]

Neom closes deal to finance $8.4bn hydrogen facility

Neom Green Hydrogen Company (NGHC) has reached a financial close on the $8.4 billion green hydrogen production facility at Oxagon in the Neom megaproject. It comes following the signing of agreements with 23 local, regional, and international banks and investment firms. The company’s non-recourse financing structure for the project has been certified by S&P Global […]

Saudi mining firm exports blue ammonia to China

Saudi Arabian Mining Company (Ma’aden) has exported its first shipments of low-carbon blue ammonia to China. The Saudi Exchange (Tadawul)-listed mining major signed an agreement to supply 25,000 tonnes of blue ammonia to China’s Shenghong Petrochemicals. Ma’aden is among the largest exporters of blue ammonia, having received certification for production in 2022. It will ship […]


Gulf is ‘ideal playground’ for surging French investment

France aims to boost its investment relationship with the GCC region by hosting an inaugural Vision Gulf event in Paris next month. The flagship conference organised by Business France, the country’s national trade agency, aims to promote increased collaboration between Middle East-based investors and French corporates. Taking place on June 13-14 at the French Ministry […]

Musabbeh Al Kaabi Adnoc

Adnoc taking on the world in renewable energy push

Abu Dhabi National Oil Company is in talks to expand operations in the UK, US and East Mediterranean, with a focus on natural gas, hydrogen production and renewable energy storage, its newly appointed global growth director has said.  Musabbeh Al Kaabi, Adnoc’s executive director of low carbon solutions and international growth, told AGBI the company […]

BP plans assets transfer into new venture with Adnoc

BP is planning to transfer assets into a new joint venture with the Abu Dhabi National Oil Company (Adnoc), which will focus on developing new gas resources in the East Mediterranean, said chief financial officer Murray Auchincloss. “BP expects to contribute assets to form the joint venture,” he told Reuters without providing details or costs. […]

Aramco delivers low-carbon ammonia shipment to Japan

Saudi Aramco’s first shipment of independently-certified low-carbon ammonia has reached Japan for use as fuel in power generation.  The ammonia was produced by Sabic Agri-Nutrients with feedstock from Aramco and sold by Aramco Trading Company to the Fuji Oil Company.  Mitsui OSK Lines was tasked with shipping the liquid to Japan, which will be transported […]

racing car
  • Analysis

GCC and Japan move into fast lane for trade growth

When Abu Dhabi announced the launch of the world’s largest autonomous racing league last month, it was with a significant nod to trade with Japan. Aspire, an arm of the emirate’s Advanced Technology Research Council, unveiled plans to host the first autonomous car race next year, featuring the Dallara-built Super Formula cars exclusively provided by […]

Tashkent, the capital of Uzbekistan,has many attractions but business is fast becoming a major one for the Gulf

Uzbekistan draws in billions of GCC energy investments

Uzbekistan’s energy sector is attracting billions of dollars from the Gulf as the former Soviet republic looks to generate 35 percent of its electricity from renewable sources by 2030.  The central Asian country has an average of 330 sunny days a year and the potential for solar energy is huge, prompting companies such as Saudi-based […]