The Cop28 climate summit has opened in Dubai, yet it is already clear that the world is not on track to meet the climate change targets that governments set themselves in Paris in 2015. In strictly numerical terms therefore, Cop28 will be a failure, like all the climate summits that …
Read More »UAE to Boost Murban Crude Exports as Higher OPEC+ Quota Kicks in
One of the biggest oil exporters in the Middle East, the United Arab Emirates, is set to increase from 2024 the exports of its flagship Murban crude grade as the UAE will see its production quota in the OPEC+ deal increased, traders have told Reuters. Refinery maintenance in the UAE …
Read More »UAE Oil Giant and Australian Santos Team Up to Develop Carbon Capture Tech
The national oil producer of the United Arab Emirates and Australia’s energy group Santos have teamed up to jointly explore the development of a global carbon management platform to help customers in the Asia Pacific region cut emissions. Abu Dhabi National Oil Company, which pumps nearly all the oil in …
Read More »Energy Companies Optimistic of Global Consensus on Renewable Energy at Cop28
Global energy companies operating in the UAE are optimistic that a consensus can be reached around the Cop28 pledge of tripling renewable energy capacity and doubling energy efficiency by 2030. The US, EU and UAE are rallying other governments to join a global deal on renewables at the UN climate …
Read More »World’s Largest 3D-Printed Eco Boat Unveiled in the UAE
Al Seer Marine and Abu Dhabi Maritime, both based in the United Arab Emirates (UAE), have unveiled the world’s first 3D-printed water taxi. On November 6, the companies also secured a Guinness World Records title for the largest 3D-printed boat. “Crafted from 67% recycled materials, this 11.98-meter-long marvel not only …
Read More »EU, US, UAE Pressure other Govts to Join Deal to Triple Renewable Energy
The United States, the European Union, and the United Arab Emirates are looking to drum up new recruits in the form of other governments to sign onto a global deal that seeks to triple renewable energy investment, according to new documents seen by Reuters. The COP28 climate summit hosts are …
Read More »Iraq, UAE’s Crescent Launch 3 Deals to Develop Oil and Gas Fields
Iraq launched three energy contracts with UAE’s Crescent Petroleum to develop three oil and gas fields in Iraq, Iraq’s oil ministry said on Sunday. Earlier this year, Crescent Petroleum signed three 20-year contracts to expand oil and natural gas fields in Iraq’s Basra and Diyala. The contracts are set to …
Read More »UAE Launches 103MW of Wind Power Projects
UAE-based energy company Masdar has launched four wind farms with a total capacity of 103.5MW, as part of the UAE wind programme. The project sites are Sir Bani Yas Island in Abu Dhabi with 45MW of wind capacity and a 14MW solar farm, two 27MW wind farms on Delma Island …
Read More »Big Oil, Heavy Industry Discuss Emission Curbs Ahead of COP28
Major oil and gas company chiefs held discussions with heavy industry bosses on Sunday in the United Arab Emirates in an effort to agree a firm commitment to reduce carbon emissions ahead of a United Nations climate summit next month. The COP28 summit is scheduled to take place in Dubai …
Read More »India, UAE Make First Crude Oil Trade in Local Currencies
Exactly a month after Prime Minister Narendra Modi and President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, signed a Memorandum of Understanding on trade in national currencies, the Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL) made their first-ever crude oil transaction in national …
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