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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

ADNOC L&S buys VLCC

The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of 3rd April 2025. (WAM)
By TRENDS Desk
July 18, 2023 12:15 am
  • The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
  • The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.

ABU DHABI, UAE – Abu Dhabi National Oil Company Logistics and Services (ADNOC L&S) has announced the delivery of a new crude carrier as part of a US$2 billion growth strategy.

The very large crude carrier (VLCC) is a four dual-fuel engine ship – which can also run on liquefied natural gas (LNG).

The company said that it has committed $2 billion for more environmentally friendly carriers.

In a filing to the bourse, ADNOC L&S said it has reduced the carbon intensity of its owned fleet by over 20 percent since 2018.

The first VLCC was delivered last month.

The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea by Hanwha Ocean.

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