Energy

Oil prices set for weekly loss on slow Chinese demand, higher supply prospects

The International Energy Agency expects global oil supply to exceed demand in 2025 even if OPEC+ output cuts remain in place

COP29: Egypt reiterates 42 percent renewable energy target for 2030, calls for international support

As of July 2024, solar, wind, and hydropower make up 11.5 percent of Egypt's electricity generation 

Abu Dhabi’s TAQA reports $1.7 billion net income during first nine months of 2024

The Group posted revenues of $11.3 billion, reflecting a 6 percent increase from the same period in 2023

ADNOC L&S Q3 net profit up 18 percent YoY to $175 million

The company reported revenues of $2.66 billion, representing a 38 percent increase compared to the same period in 2023

Oil prices drop as U.S. inventory data misses expectations, markets look for clarity on Chinese demand

Brent oil futures for January delivery decreased by 0.1 percent, settling at $72.23 per barrel

COP29: Masdar, Albania Power Corporation to explore gigawatt-scale renewable projects in Albania

The partnership leverages KESH's leading position and Masdar's expertise to accelerate Albania's clean energy transition

Oil prices rise modestly but stay near two-week lows after OPEC’s demand growth downgrade

Brent futures had climbed by 17 cents, or 0.24 percent, reaching $72.06 a barrel

Oil prices steady as China’s stimulus disappoints, U.S. supply fears ease

Brent oil futures for January increased by 0.2 percent, reaching $71.95 a barrel

OPEC and IEA diverge widely on oil demand projections through 2050

OPEC has lowered its 2024 oil demand growth forecast to below 2 million bpd, while the IEA projects even lower demand growth at under 1 million bpd

DEWA achieves record revenue of $6.4 billion, $3.2 billion in EBITDA during first nine months

The authority reported a consolidated revenue of AED9.9 billion for the third quarter of 2024, reflecting a 4.75 percent increase

QatarEnergy expands Egypt exploration footprint, acquires 23 percent interest in North El-Dabaa (H4) Block

Block lies about 10 kilometers offshore the Egyptian Mediterranean shore at water depths ranging between 100 meters and 3,000 meters

ADNOC Gas to acquire 60 percent stake in Ruwais LNG for $5 billion from ADNOC

The Ruwais LNG plant will more than double ADNOC Gas’ current gross 6 mtpa LNG capacity to more than 15 mtpa

ADIPEC 2024 sets new records, unites industries to drive sustainable socioeconomic advancement

Under the theme ‘Connecting Minds. Transforming Energy,’ ADIPEC 2024 drew a record 205,139 participants from 172 countries 

ADIPEC 2024: ADNOC L&S signs contracts worth $4.4 billion for 23 supertankers

ADNOC L&S has the largest diversified fleet in the region, with over 800 owned, operated and chartered vessels

ADIPEC 2024: Energy, finance leaders urge joint efforts to mobilize capital

Conference seeks accessible and affordable capital for a fair energy transition

ADNOC, SEFE ink 15-year purchase agreement for Ruwais LNG project

The LNG will primarily come from the Ruwais LNG project, with deliveries expected to start in 2028

Official dates revealed for ADIPEC 2025 

40+ ministers and 200+ executives from around the world gathered in Abu Dhabi for ADIPEC 2024

Oil prices decline as U.S. inventory data shows larger-than-expected build amid Gulf hurricane concerns

Brent oil futures expiring in January dropped 0.6 percent to $75.11 a barrel

ADIPEC 2024: UAE plans to invest over $54 billion to meet sustainable energy demand over next six years, says Suhail Al Mazrouei

This initiative is part of the country's commitment to decarbonising the economy and achieving net-zero emissions by 2050 

Saudi Aramco achieves Q3 revenue of $111.1 billion, $27.6 billion in net profit

“Aramco delivered robust net income and generated strong free cash flow during the third quarter, despite a lower oil price environment,” Eng. Nasser said

ADIPEC 2024: Microsoft supports energy transition towards more sustainable future 

The booth features a Surface Zone and demo arena for attendees to explore Microsoft’s solutions for operational and environmental goals