Strong showing by Water Solutions and Transmission & Distribution as net income surges to $1.72 billion), up 13.2%
Energy
Abu Dhabi
KEZAD Group, Delmon Industrial Complex ink 50-year lease for new oil & gas facility
The new facility marks the Saudi-based oil and gas major’s entry into the UAE
DEWA
DEWA announces $6.4bn revenue for year so far
DEWA has revealed profits after tax of $1.5bn for the first nine months of 2024
ADNOC Gas
ADNOC Gas targets over 40% EBITDA growth over next five years
Company declares fourth straight quarter of $6 billion-plus revenues; Quarterly net income up 11% to $1.24 billion
Abu Dhabi
Fertiglobe sees plenty of upside following ADNOC’s acquisition of OCI stake
For Q3 2024, revenues at $496 million, adjusted EBITDA at $176 million, while 9M 2024 revenues touch $1.5 billion
azerbaijan
COP29 opens in Azerbaijan’s Baku with focus on climate finance
The talks are taking place against a backdrop of increasing climate disasters and mounting pressure from developing nations for enhanced financial support
Aviation
UAE energy firm Mercantile & Maritime to build Middle East’s largest $599mn biofuel facility in Fujairah
The facility, set to become the Middle East’s largest, will produce 150 million litres of sustainable aviation fuel (SAF) annually
ADIPEC
ADIPEC 2024 concludes with $10bn of deals and record attendance
ADIPEC 2024 was a commercial success with more than $10bn of deals announced at the energy conference in the UAE
ADNOC signs deals worth $4.4bn to build 23 new supertankers
ADNOC L&S to build 23 massive new tankers as it signs $4.4bn shipbuilding deals
Aramco
Aramco announces huge dividend payout despite Q3 income drop
Aramco announces Q3results with $27.5bn net income
ADNOC Drilling
Enersol to acquire 95% stake in US-based Deep Well Services for $223 million
With revenue of $205 million in 2023, DWS specialises in several advanced technologies and services within the energy sector
Suhail Al Mazrouei
UAE to invest $54.5bn to meet sustainable energy demand
UAE plans massive investment to meet sustainable energy demands and net-zero targets
DEWA
DEWA issues rainy season safety guidelines for Dubai residents
DEWA has advised residents to secure electrical panels and replace broken electricity meter glass covers among other things
Abu Dhabi
US energy tech major Baker Hughes opens new manufacturing facility in Abu Dhabi
This opening marks the latest milestone in Baker Hughes’ 60-year commitment to the UAE and underscores the company’s dedication to localisation
Abu Dhabi
UAE petrol prices to change for November 2024
UAE petrol prices fell last month following an increase the month before and will change again this week
clean energy
Middle East needs stronger policies to tap into $900bn green FDI flows, energy expert says
The region has seen limited green investment flows compared to Europe and the US despite offering the world’s lowest renewable energy production costs, Strategy& expert reveals
Saudi exports
Saudi non-oil exports hit $7.3bn last month, oil exports fall 15.5% in a year
Saudi Arabia sees increase in value of exports, according to GASTAT research