ADNOC
Founded in 1971, ADNOC is a leading diversified energy group, wholly owned by the Abu Dhabi government. Its network of fully integrated businesses operates across the energy value chain. ADNOC is already a top-tier low carbon intensity oil and gas producer globally. It is allocating an initial $23 billion to advance and accelerate lower-carbon solutions, investing in new energies and decarbonization technologies to enable the net zero by 2045 ambition and its commitment to zero methane emissions by 2030.
To service the contract and explore future opportunities, ADNOC Drilling has incorporated Turnwell Industries
The Ras Al Sadr gas field has a production capacity of up to 100 million standard cubic feet of gas per day
The net profit for the quarter amounted to $275 million, reflecting a substantial 26 percent year-on-year increase
Under the contract, Turnwell will be responsible for delivering 144 unconventional oil and gas wells
Excluding the corporate tax impact, net profit saw a robust 13 percent year-on-year increase to $165 million
The deal aims to expedite AI innovation, cultivate cutting-edge energy and industry solutions
This represents a 34 percent increase compared to the net profit of $145.1 million achieved during the same period last year
Domestic gas net income unit margin saw a 20 percent Y-o-Y improvement
Partnership aims to deliver value and operational efficiencies to ADNOC, G42, Presight, and the UAE
Petrol prices in the UAE have been rising from February onwards
Since its inception, IFAD has facilitated the trading of nearly 6 billion barrels of Murban crude oil
The exchangeable bonds carry a 0.70 percent coupon
The MIITE Forum will be held on 27-28 May, 2024 at the Abu Dhabi Energy Centre
Company plans to invest over $13 billion between 2024 and 2029 in growth opportunities
Petrol prices in the UAE have been rising from February onwards
The company also reiterated dedication to 5-year growth strategy, encompassing AI, digitalization, and cutting-edge tech
Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas
Strategic approval reinforces commitment to clean energy and climate action objectives
Modern Gas generated revenues of $55.2 million in 2023
Strategic deal reinforces ADNOC's role in global energy transition
The dividend will be paid to all record shareholders as of March 21, 2024, on or around April 3, 2024
The company’s AI integration is driving net-zero emissions and methane reduction goals
The transaction has increased UAE firm’s shareholdings in Borealis and Borouge