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Sustainability

UAE nuclear programme working with French agency

The Emirates Nuclear Energy Corporation,ENEC, has signed a Memorandum of Understanding,MoU, with the French National Radioactive Waste Management Agency,Andra, on the sidelines of the 63rd Annual Regular Session of the IAEA General Conference in Vienna, Austria. The MoU was signed by Eng. Mohamed Al Hammadi, Chief Executive Officer of ENEC, …

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Masdar’s Future Sustainability issues Ecothon awards

Masdar has awarded the winners of the Ecothon Plus competition at the World Energy Congress in Abu Dhabi. The competition was held as part of Masdar’s Future Sustainability Leaders programme. In collaboration with the Emirates Red Crescent, the Ecothon aimed to provide energy-efficient solutions for the UAE-Jordanian Refugee Camp in …

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Saudi Aramco ready now for IPOs

Saudi Aramco is primed to float on international markets to complement a planned domestic initial public offering (IPO) which has been selected as its primary listing, the state oil giant’s chief executive said on Tuesday. An IPO of Saudi Aramco would happen “very soon”, Amin Nasser cited the kingdom’s new …

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UAE launcing gas-fired power plant

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry and Chairman of the Federal Electricity and Water Authority, FEWA, said that the authority, in cooperation with Emirates Water and Electricity Company, EWEC, is in the process of launching a gas-fired power plant, which will be the most …

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ADNOC closes $600 million with Singapore wealth fund

The Abu Dhabi National Oil Company, ADNOC, today announced that it has formally closed its US$600 million pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. This marks the successful closing of the total investment transaction, following the formal closing of the initial investment agreement with BlackRock and KKR …

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Iran oil products increase despite US sanctions

While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show. Sanctions have barely affected Iran’s exports of oil products, primarily fuel …

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Banned Iranian tanker headed to Lebanon

Turkey said on Friday that an Iranian tanker at the center of a confrontation between Washington and Tehran was headed to Lebanon after changing course several times, although Beirut said it was not informed of the plan. According to Refinitiv tracking data, the Adrian Darya, formerly called Grace 1, made …

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Iran welcomes French nuclear negotiating

Iran is prepared to work on French proposals to salvage the international nuclear deal that Tehran signed with world powers in 2015, Foreign Minister Mohammad Javad Zarif said on Thursday. “There are proposals on the table… and we are going to work on those proposals,” he said at the Norwegian …

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ADNOC issues ‘smart’ procurement contract

The Abu Dhabi National Oil Company, ADNOC, announced on Wednesday the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. The combined scope of the three contracts awarded is one of the world’s largest in this category, maximising …

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Pompeo unhappy Iranian tanker released

U.S. Secretary of State Mike Pompeo said in a television interview on Monday that it was unfortunate an Iranian oil tanker detained off Gibraltar had been allowed to leave. “It’s unfortunate that that happened,” Pompeo told Fox News Channel. He added that if Iran is successful in making profit from …

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DEWA to build pumped-storage hydroelectric power station

Dubai Electricity and Water Authority, DEWA, has awarded the Strabag Dubai LLC, Strabag AG, Andritz Hydro and Ozkar consortium the construction contract for the AED 1.437 billion pumped-storage hydroelectric power station at Hatta. This is part of the Comprehensive Development Plan for Hatta, launched by His Highness Sheikh Mohammed bin …

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Saudi-Malaysian refinery back on track

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, has begun to restart a crude distillation unit (CDU) at its oil refinery in Malaysia, Petronas said on Saturday. Malaysia’s state oil firm said the refinery had started feeding crude oil into the unit earlier this week, …

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Gulf-India investment ties expanding

The Indian government is preparing to reform domestic fuel marketing in India, opening up this lucrative sector to foreign oil companies, especially those in the Gulf. To set this process in motion, the Ministry of Petroleum and Natural Gas has prepared a cabinet note which will end rules that essentially …

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