Tag Archives: United Arab Emirates

Abu Dhabi National Oil Company (ADNOC) has launched talks to potentially buy the energy assets of the UAE’s sovereign wealth fund in a deal that could be worth about $10 billion, sources familiar with the plans told Bloomberg on Friday. ADNOC – which has recently reshuffled shareholdings, listed some subsidiaries, …

Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) declined last month, as the United Arab Emirates (UAE) intensified supply cutbacks aimed at stabilizing global oil markets. According to a Bloomberg survey, OPEC’s output fell by 120,000 barrels per day (bpd) to 27.05 million bpd, with the …

Vietnam’s electric vehicle manufacturer VinFast Auto is expected to receive at least $1 billion in overseas funding led by Emirates Driving Company (EDC), Abu Dhabi’s leading driver training and road safety institute, Bloomberg reported on Wednesday, quoting a source with knowledge of the agreement. VinFast and its parent company, Vingroup, …

Masdar, the clean energy giant of the United Arab Emirates (UAE), has pushed back its target to reach 1 million tons per year of green hydrogen capacity beyond 2030, the company’s press office told Bloomberg on Monday. Masdar, which initially targeted this capacity by 2030, will now aim to reach …

As Iran visits Gulf states to scrounge up support in the face of what many believe is an impending strike by Israel, Reuters reports that Saudi Arabia, UAE and Qatar are lobbying Washington to thwart Israel. On Thursday, Iranian Foreign Minister Abbas Araghchi told the media that the country was …

Following a year of negotiations, Abu Dhabi’s oil company ADNOC has agreed to buy Germany’s chemicals giant Covestro in a deal worth $16.3 billion (14.7 billion euros) including debt, the German group said on Tuesday. ADNOC will make a takeover offer at $68.86 (62.00 euros) per Covestro share, which is …

Abu Dhabi’s national oil company ADNOC has raised the production capacity at one of its offshore oilfields by 25% using AI technology as the United Arab Emirates looks to boost its total crude oil production capacity to 5 million barrels per day (bpd) by 2027. ADNOC’s offshore Satah Al Razboot …

Abu Dhabi’s national oil company ADNOC has taken the final investment decision to move forward with the Ruwais LNG project, which will more than double the existing LNG production capacity in the United Arab Emirates. ADNOC took on Wednesday the FID for the Ruwais LNG project, which will consist of …

The United Arab Emirates is on course to achieve its full oil capacity target more than a year earlier than expected. Abu Dhabi National Oil Co.(ADNOC) is likely to reach its 5 MMbpd goal by the end of next year or early 2026, ahead of the 2027 goal the company …

The Middle East is expanding its renewable energy and clean tech sectors at an accelerated pace, as several countries plan for economic diversification beyond oil and gas. While fossil fuels may continue to provide massive revenues for countries such as Saudi Arabia, the UAE, and Qatar, these Middle Eastern states …