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Emirate’s economic strategies and policies designed to foster development by Statistics Centre – Abu Dhabi (SCAD) said the gross domestic product (GDP) of Abu Dhabi increased by 3.5% in the second quarter of 2023 compared to a year ago, and the non-oil economy grew by 12.3% in the reported quarter, reported Zawya. The Abu Dhabi’s […]
Integrated energy and chemicals companies, Aramco on Thursdays, has signed a definitive agreement to acquire minority stake of a liquefied natural gas (LNG) company, MidOcean, a subsidiary company of private energy Investment Company, EIG global energy partner. The deal is worth of $500 million. Dubai-based state owned, Aramco’s partnership with MidOcean Energy marks its first international […]
Marine equipment company Motive Offshore Group joined forces with energy service company, Emirates Specialized Contracting & Oilfield Services (ESCO), on Wednesday. The deal aims to bring innovation in offshore services and solutions to support the growing market in the Middle East and North African (MENA) region. The US-based ESCO will offer access to various sites […]
The MENA EV Show 2023 is set to launch for two power-packed days of discussions, innovations, and networking on September 27-28, 2023 at the prestigious Dubai Silicon Oasis. The event is organized by INOEX Global and co- hosted by Dubai Silicon Oasis. This year’s event will be an essential gathering for industry leaders, policymakers, and […]
Oil and gas producer ADES Holding Co, on Wednesday, said the company confirmed the final offer price for the company’s initial public offering (IPO) and it has completed the process of book-building for institutional investors. The Dubai-based company’s final offer price for the IPO offering is set at SAR 13.50 per share ($3.60 per share), […]
Modular battery solutions manufacturer American Battery Solutions (ABS) said it will spin out its Energy Storage Solutions (ESS) division on Monday, with a purpose to create a new, independent company called American Energy Storage Innovations Inc (AESI). This initiative reflects the evolution of ABS business and underscores the commitment of ABS to driving innovation within […]
Dr Sultan Al Jaber, COP28 president-designate announced a new $4.5 billion initiative between the UAE and Africa that seeks to unlock Africa’s capacity for sustainable prosperity in the inaugural Africa Climate Summit, on Tuesday. The summit held in Nairobi, Kenya was attended by global and African leaders, including UN Secretary-General Antonio Guterres and Ursula von […]
Egyptian President Abdel Fattah Al-Sisi met with Claudio Descalzi, chief executive of Italian oil and gas firm Eni, and other senior officials of the company on Sunday, reported the Daily News Egypt. Tarek El-Molla, Egyptian minister of petroleum and mineral resources also was present in the meeting along with some senior officials from Eni, based […]
Sungrow, the leading global inverter and energy storage system solution supplier, signed a contract with Larsen & Toubro (L&T) to supply inverter skid solutions for a 2.2 GWac PV plant, the largest single-site utility-scale PV Plant in the Middle East, for the NEOM Green Hydrogen Project in Saudi Arabia, for the NEOM Green Hydrogen Company […]
Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy, Government of India (GoI). The MoU, in alignment with guidelines issued by the […]
After riding high on the oil and gas boom for decades, the Gulf countries including Oman, Saudi Arabia and the UAE are eyeing opportunities in green hydrogen, the fuel of the future. This move is an effort by the countries to fuel the economic transition to non-oil based revenues and relieve the climate crisis, Gulf […]
India’s leading natural gas firm GAIL (India) Ltd will soon close a long-term liquefied natural gas (LNG) import deal with Qatar to purchase at least 1 million metric tons per year, potentially for more than 20 years, Reuters News reported. The deal would be part of GAIL’s plans to lock in new supply contracts by […]
