Energy
Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel
OPEC also cut next year's demand growth estimate to 1.78 million bpd from the previous 1.85 million bpd
ADNOC Gas fulfils over 60 percent of the UAE’s gas demand and is a major player in fueling the development of key industrial sectors
The company has raised its medium-term revenue expectations to $3.85 billion for the fiscal year 2024
EBITDA reached AED6.6 billion, operating profit of AED3.3 billion and profit after tax of AED2.6 billion
Brent oil futures slipped 0.1 percent to $79.11 a barrel
Company's non-fuel retail gross profit increased by 13.5 percent annually in Q2 2024 to $56 million
The operating environment score for the sector has been rated 'bbb+'
This represents 31 percent increase YoY
The deal includes a $750 million convertible preferred investment and a $750 million unsecured term loan
The company earned $116.52 million in profit before tax, a 6.3 percent increase from the same period in 2023
Oil company's revenues reached $220.73 billion in H1, up 0.9 percent from $214.38 billion during the first half of 2023
Agreement marks ADNOC's first long-term LNG deal with Osaka Gas, underscoring the long-standing energy partnership between the UAE and Japan
EV Holdings is Enersol’s third acquisition and comes following the company's agreement to acquire 51 percent of NTS Amega (NTS) last week
Customers carried out over 1.1 million digital transactions through the authority's website
OPEC+ is currently cutting output by 5.86 million barrels per day or about 5.7 percent of global demand
The sea area designated for use grew by 16.9 percent YoY, with ¥500 billion in projects
The two countries agreed to develop economic partnership
Higher sales and cost efficiencies drove the company's highest-ever production volumes
Petrol prices have increased in August after dropping in June and July
LNG production trains allow the government to improve operational efficiency, maximize the use of existing facilities
Expansion supports ADNOC’s target to increase its production capacity to 5 million barrels of oil per day by 2027
Through the virtual power plant project, DEWA has integrated over 8 DERs with a total flexibility of around 3.3 MW
