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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

ADNOC partners with BP, Masdar

The products identified for local manufacturing include piping, chemicals, fittings.
  • ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
  • Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.

Abu Dhabi National Oil Company (ADNOC) will create green hydrogen and sustainable aviation fuel (SAF) in partnership with UK energy major BP and Masdar, UAE’s renewable energy company.

ADNOC signed a deal with both the companies for the same as the oil producer seeks to develop clean fuels in line with an energy transition plan.

The cooperation agreements related to BP’s HyGreen Teesside, a large-scale green hydrogen production facility in the UK.

ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.

Also, Masdar and BP signed an MOU to potentially collaborate on the green hydrogen project which will be powered by offshore wind.

This will be ADNOC’s first investment in the UK, it said in a statement on Tuesday.

ADNOC, BP and Masdar will also explore the production of SAF in the UAE using solar-to-green hydrogen and municipal waste gasification.

This includes leveraging the capabilities of the UAE’s Tadweer (Abu Dhabi Waste Management Centre) and Etihad Airways.

The deals build upon the strategic framework agreements signed during the 2021 visit to the UK by UAE President Sheikh Mohammed bin Zayed Al Nahyan.