Economy Middle East

Abu Dhabi National Energy Company

The UAE makes a giant leap into the energy storage space
Energy

The UAE makes a giant leap into the energy storage space

The world’s first 24/7 solar PV, battery storage giga scale project will help unlock the potential of solar energy

UAE’s ADNOC Distribution revamps dividend policy, commits to $700 million or 75 percent of net profit until 2028
Energy

UAE’s ADNOC Distribution revamps dividend policy, commits to $700 million or 75 percent of net profit until 2028

The company also reiterated dedication to 5-year growth strategy, encompassing AI, digitalization, and cutting-edge tech

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block
Energy

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block

Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas

ADNOC recognized as top NOC investor in low-carbon solutions: Report
Sustainability

ADNOC recognized as top NOC investor in low-carbon solutions: Report

The company was also ranked 5th largest investor in the industry in 2023

ADNOC boosts budget allocation to $23 billion for lower-carbon projects
Sustainability

ADNOC boosts budget allocation to $23 billion for lower-carbon projects

Company also aims to inject $48.5 bn back into UAE economy over next 5 years

UAE’s ADNOC inks first 15-year LNG supply deal with China’s ENN
Sustainability

UAE’s ADNOC inks first 15-year LNG supply deal with China’s ENN

Targeting first sales in 2028

UAE’s TAQA reports AED15 bn net income for first nine months of 2023
Banking & Finance

UAE’s TAQA reports AED15 bn net income for first nine months of 2023

Company refreshed 2030 growth targets