Energy

ADNOC L&S approves $136.5 million cash dividend for H1 2024

Company aims to distribute a total dividend amount of $273 million for the full year, up 5 percent from 2023

Abu Dhabi Department of Energy engages stakeholders to improve safety, compliance in the petroleum sector

Voluntarily following safety protocols provides key benefits: safer communities, greater efficiency, cost savings, and a stronger reputation 

Oil prices retreat amidst ongoing concerns over Middle East conflict, hurricane impact

Brent crude futures for December delivery dropped 0.6 percent to $80.42 a barrel

Abu Dhabi’s Masdar expands clean energy to 31.5 GW, generating 26,700 GWh and avoiding 14 million tons of CO2e

This is up from 10 million tons last year, equivalent to removing nearly 870,000 vehicles 

Oil prices remain stable as investors assess Middle East tensions, global supply dynamics

Brent crude futures fell by 8 cents, or 0.1 percent, settling at $77.54 a barrel

WEF introduces innovative digital platform to boost clean energy investments in emerging markets

The platform outlines 100 policy measures, financial mechanisms, and de-risking strategies from the past two decades

ADX records 15 major deals on ADNOC Gas and Modon valued at $724.2 million

The first transaction involved 505.8 million shares of Modon Holding for AED2.44 billion across six deals at AED4.83 per share 

Saudi Aramco completes $3 billion international sukuk issuance

Issuance supports Aramco’s efforts to diversify and broaden its investor base, further enhance liquidity and re-establish its sukuk yield curve

OPEC+ maintains output cut policy in October as oil prices surge above $75

In September, oil prices slid below $70 per barrel for the first time since 2021

Oil prices surge amid fears of Middle East conflict disrupting crude shipments

Brent crude futures climbed by 80 cents, or 1.08 percent, reaching $74.70 a barrel

ADIPEC 2024: Global energy industry to explore role of AI, finance in energy transition

Three new conferences to feature new voices from finance, technology, youth and the Global South

DAMAC Properties strengthens commitment to sustainability at DEWA’s WETEX 2024 with innovative solutions

DAMAC launched its first Sustainability Report which highlights the organisation’s key ESG goals and vision

Oil prices jump as Middle East concerns escalate, OPEC+ prepares for market review

Brent futures climbed by $1, or 1.36 percent, reaching $74.56 per barrel

ADNOC International to acquire German chemical firm Covestro

Deal will further drive the diversification of ADNOC’s chemical portfolio

ADNOC Drilling announces Turnwell JV to execute $1.7 billion unconventionals contract

Turnwell adopts batch drilling, which is a method that improves efficiency and reduces costs

Abu Dhabi reports new record GDP of $80.86 billion, 4.1 percent increase in Q2 2024

This growth is driven by the development of non-oil sectors, showcasing the emirate's economic diversification efforts

Oil prices hold steady amid concerns over Middle East conflicts, sluggish global demand growth

Brent crude futures for December delivery rose by 13 cents, or 0.18 percent, reaching $71.83 a barrel

UAE commits $30 million to boost Ghana’s biodiversity and climate initiatives

The framework outlines six key investment areas, including biodiversity corridors, reforestation

Governments allocate nearly $2 trillion in direct clean energy investment since 2020: IEA

This amount is nearly three times the funding committed after the financial crisis of 2007-08

S&P raises Oman’s credit rating to ‘BBB-’ with stable outlook

The Omani government, along with many state-owned enterprises (SOEs), is continuing to deleverage its balance sheet

UAE petrol, diesel prices reduced for October 2024

The new rates will be applicable from October 1

Oil prices rise amid Middle East tensions, upcoming Fed insights on monetary policy

Brent crude futures for November delivery rose by 51 cents, or 0.71 percent, reaching $72.49 a barrel

COP28 President calls for ambitious NDCs to keep 1.5°C goal within reach, drive socioeconomic growth

Dr. Al Jaber said the UAE Consensus provides a vital roadmap for action at the ‘Roadmap to Mission 1.5: NDC 3.0’ event

Oil prices decline as Libya and OPEC+ boost output, while China’s stimulus offers support

Brent crude futures decreased by 20 cents, or 0.28 percent, settling at $71.40 per barrel