Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.Company News Business
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...Technology Business Economy Energy Geostrategy Profile & Interviews
ACWA Power signs $911 million water purchase agreement with DEWA
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA) Tuesday signed a 30-year water purchaser agreement worth SAR 3.42 billion...The project is part of DEWA’s efforts to increase its water desalination capacity to 730 MIGD by 2030, from 490 MIGD at present.
This project is the largest of its kind in the world for water production based on Sea Water Reverse Osmosis (SWRO) technology using solar energy.
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Saudi Cruise signs pacts with leading firms
The agreements are aimed at boosting investment in Aroya Cruise.It signed partnerships with the ICEway for IT services, SourceToad for software engineering and Otalio for property management systems on board ships
In September 2023, Saudi Cruise announced cooperation with top-notch companies in the sector, MJM Marine and DE Wave for Aroya.
Najm inks pact with iot squared
The aim is to advance insurance services in the Kingdom.iot squared is a joint entity between the Public Investment Fund (PIF) and STC Group and it provides leading IOT solutions in the logistics service field.
Najm for Insurance Services was set up in 2007 due to cooperation between insurance firms, Saudi Central Bank and the General Department of Traffic.
ADNOC and Occidental to advance direct air capture project in UAE
Abu Dhabi, UAE -- ADNOC and international energy company, Occidental, announced today an agreement to undertake a joint preliminary engineering...They will undertake a joint preliminary engineering study for the construction of the first megaton-scale direct air capture (DAC) facility outside the United States.
ADNOC said the study will assess the proposed one million tons per annum (mtpa) DAC facility to be connected to ADNOC’s carbon dioxide (CO2) infrastructure.
South Korean firms eyeing expansion in UAE’s oil and gas sector
Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand...Top executives told WAM that UAE has made significant strides in energy transformation in recent years and continues its relentless efforts to address the climate change fallout.
Kyle Moon, Deputy General Manager of Daeha company said ADIPEC enhances collaboration opportunities among policymakers and decision-makers.
Ford lays off 300 US workers
The workers were asked not to report to work due to the strike.The strike against the "Big Three" car manufacturers -- Ford, Stellantis and General Motors -- began on September 15 when a previous contract expired without a replacement
Instead of calling for all of its 146,000 members to strike at once, the UAW union has deployed a targeted approach, adding more sites as the weeks drag on
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand
Adnoc Gas awards contract
Nearly US$615m will be paid to build carbon-capture units.Adnoc Gas said the large-scale project reaffirms its steadfast commitment to maximising energy output while minimising emissions
The project expected to be started in 2026 will inject CO2 for permanent storage in ADNOC Onshore's Bab Far North Field
Masdar enters Tajikistan market with plans to explore 500MW clean energy projects
Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore...MW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an agreement with Tajikistan’s Ministry of Energy
The collaboration will focus on the development of solar photovoltaic (PV), wind, and hydropower projects through a Public-Private Partnership (PPP)
