Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil giant ADNOC, after the Emirati firm promised steps to alleviate competition fears. Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company...

ABU DHABI – Abu Dhabi National Oil Company (ADNOC) has sold a 3 percent stake in its logistics and shipping subsidiary, ADNOC Logistics & Services (ADNOC L&S), for approximately AED 1.16 billion ($316 million). The placement of 222 million shares to institutional investors was significantly oversubscribed by seven times within...

Brussels, Belgium -- The European Commission on Monday announced an investigation into the takeover of German chemical firm Covestro by UAE state oil giant ADNOC, citing competition fears. "The commission has preliminary concerns that foreign subsidies granted by the United Arab Emirates could distort the EU internal market," a statement...

XRG is ADNOC's wholly-owned international investment company.

Abu Dhabi, UAE  – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students in artificial intelligence (AI) and advanced technology through an initiative called ‘STEM for Life: Future of AI Schools Challenge’ which held the finals today at the Abu Dhabi Energy Centre....

Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first quarter net profit. Each of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable growth. ADNOC Distribution delivered...

After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts 2025 will witness a significant “structural upswing” in transaction volume and value size, bolstered by policy shifts and regulatory reforms in the region

Under the agreement, ADNOC will supply 1m tons of LNG per year.

The deal values German chemicals group at $13.3bn.

Dubai, United Arab Emirates -- Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied natural gas project in the United Arab Emirates, state energy giant ADNOC said Wednesday. Japanese trading company Mitsui & Co. will also acquire 10 percent of the Ruwais LNG plant,...

Covestro's shares surged more than six percent in Frankfurt following the announcement, which comes after it first disclosed talks were ongoing with the UAE firm in September last year. "The discussions so far have shown that Covestro and ADNOC can generally reach a common understanding regarding core aspects of a...

The current low share of renewables in the energy mix of GCC nations increases the potential for significant investment in this sector, says a report.

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan the Emirates is at the forefront of leveraging cutting-edge technologies like AI to drive sustainable growth and progress, particularly in the...

ADNOC will supply 1 million mtpa of LNG to SEFE Singapore.

They will utilize outdoor media-leasing spaces for advertising.

The OMV is headquartered and listed in Vienna, Austria.

Its revenue jumped 41% to US$748 million in 2023.

The JV is expected to be completed in the second half of 2024.

The 15-year agreement was inked wit ENN LNG (Singapore).

Dubai, UAE - An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out. After the UN's COP28 climate talks in Dubai, Saudi Energy Minister Prince Abdulaziz bin Salman immediately played...

Climate campaigners have viewed Jaber with deep suspicion due to his position as the head of UAE national oil firm ADNOC, but he has sought to assure sceptics by stating that a phase down of fossil fuels was "inevitable".

DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked video showed him declaring that no science says phasing out fossil fuel will achieve climate goals. Sultan Al Jaber also repeated his past statements that a phase out of fossil...

G2COOL is the first geothermal energy cooling plant in the Gulf region.

DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050 at the UN's COP28 climate talks in Dubai on Saturday. Saudi giant Aramco and ADNOC of the UAE were among 29 national companies to sign a non-binding agreement that also...

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry. They will all share the limelight at the UN climate talks that opened Thursday in Dubai, as COP28 president...

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump it into rock -- part of controversial attempts to target planet-heating emissions without abandoning fossil fuels. Using novel technology developed by Omani start-up 44.01, the solar-powered plant will suck carbon...

Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station, to test a fleet of zero-emission hydrogen-powered vehicles. The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyzer powered by...

Abu Dhabi, UAE--ADNOC and Santos have signed a strategic collaboration agreement (SCA) to build a joint global-carbon-management platform that could support the decarbonisation journey of customers throughout Asia-Pacific. The SCA also provides companies with the opportunity to work together to advance critical carbon capture and storage (CCS) technologies necessary to...

Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of the world's first internationally recognized renewable ammonia with ISCC PLUS (International Sustainability and Carbon Certification) certification. The renewable ammonia, generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its...

The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride towards its 2050 carbon neutrality goals.

Abu Dhabi, UAE - Setting up a "loss and damage" fund for poorer nations hit by climate change dominated preliminary talks on Tuesday, one month before COP28 in Dubai where delegates look set to tussle over the future of fossil fuels. Around 70 ministers have gathered since Monday at the Emirates...

ABU DHABI, UAE -  Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale, the conference's chief said on Monday, calling it a chance to "reimagine entire economies". Sultan Al Jaber, the COP28 president and head of state-owned oil giant ADNOC, was speaking at...

The rise in net profit was driven by 16% increase in sales.

Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED1.8 billion) and $700 million (AED2.5 billion), with JERA Global Markets, a trading subsidiary of JERA Co. This agreement builds on the long-standing relationship between the UAE and Japan...

Borouge will also supply critical materials for UAE energy projects.

ADNOC's partnership with EDGE Group aimed at cutting emissions.

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible energy production and supporting its Net Zero by...

This will create manufacturing opportunities worth $2.7bn.

Baker Huhges will supply all-electric compression systems.

They will conduct a study to build a direct air-capture facility.

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC carbon capture unit at Fertiglobe’s 100 percent owned nitrogen fertilizer plant in the Al Ruwais Industrial Complex here. Fertiglobe was formed as a strategic partnership between ADNOC and OCI Global....

Abu Dhabi, UAE -- ADNOC and international energy company, Occidental, announced today an agreement to undertake a joint preliminary engineering study for the construction of the first megaton-scale direct air capture (DAC) facility outside the United States. The agreement is the first project to reach the technical feasibility stage since...

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2 billion (AED8.3 billion) strategic project to provide sustainable water supply for ADNOC's onshore operations. This strategic investment between two Abu Dhabi energy giants entails developing and operating facilities to sustainably...

The German firm will hold "open-ended" talks with ADNOC.

Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday. The 2015 Paris treaty has successfully driven climate action, but "much more is needed...

According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a year, tripling ADNOC's carbon capture capacity. No cost or timeline was announced for the venture, which will be built and operated by ADNOC subsidiary ADNOC Gas.

The investment in green hydrogen has not curbed expansion in oil and gas, with both the UAE and Saudi Arabia planning to grow their hydrocarbon industries. Experts predict it could still take years before Gulf countries can produce green hydrogen at a cost competitive with fossil fuel-based alternatives.

ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion of testing on two geothermal wells at Masdar City here. The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City,...

The increase was attributed to expansion in fleet and services.

TotalEnergies and SOCAR will hold 35% stake each in the field.