Opinion Economy Oman is on the up but not out of the woods The government must push ahead with reforms June 23, 2023
Energy 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 […] June 22, 2023
Trade 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 […] June 21, 2023
Energy 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 […] June 19, 2023
Opinion Trade Saudi Arabia’s ‘transactional’ relationship with China is evolving fast There's more to the partnership than just energy June 12, 2023
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 […] June 8, 2023
Renewable Energy 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 […] June 2, 2023
Development 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 […] May 25, 2023
Banking & Finance 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 […] May 23, 2023
Energy 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 […] May 19, 2023
Opinion Energy Time to deploy the ‘silver bullet’ against climate change There is a solution ready to hand in the global warming challenge – technology May 15, 2023
Economy 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 […] May 15, 2023
Opinion Energy Aramco’s profits are more than enough to fund Saudi Arabia Energy giant will reinvest $31.9bn profits into gas, hydrogen and value-add businesses May 12, 2023
Exclusive Energy 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 […] May 4, 2023
Energy 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. […] May 3, 2023
Energy 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 […] April 21, 2023
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 […] April 13, 2023
Energy 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 […] March 31, 2023
Banking & Finance PPP pioneer has all the right moves – now it needs new partners Jordan is a pioneer of public-private partnerships in the Mena region – and has been since the early 2000s, when the new Queen Alia airport was constructed under a PPP deal. Marquee developments such as Aqaba Container Terminal and a range of water and renewable energy projects have since been financed via PPP, says Hamzeh […] March 23, 2023
Analysis Energy ‘Huge potential’ for Germany and Saudi to collaborate on hydrogen Top-level talks have taken place in Germany to boost trade and investment with Saudi Arabia, as experts describe the potential for collaboration on producing cost-competitive hydrogen as “huge”. As the world seeks cleaner energy solutions to meet net zero climate targets, analysts say the two countries have the resources, infrastructure and skills to build on […] March 23, 2023
PIF-backed Oman infrastructure fund raises $1 billion Omani infrastructure investor Rakiza, which is backed by Saudi Arabia’s PIF, has closed its first fund, raising more than $1 billion from participants. Rakiza has already spent a quarter of this money in buying three Omani assets – a 30 percent stake in a telecom tower portfolio, 31 percent of a Port Sohar container terminal […] March 21, 2023
Energy Rolls-Royce sees Mena as ‘driver’ for green power growth The Middle East and Africa’s rapid urbanisation and push to decarbonise power generation is a “great economic driver” for Rolls-Royce, the British engineering firm’s regional chief told AGBI. Rolls-Royce is one of the world’s top aero engine manufacturers, supplying civilian and military craft, although its power systems division provided 26.4 percent of its £12.69 billion […] March 17, 2023
