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Company reports Y-o-Y EBITDA growth of 4.6% in 2023, and 15.4% Y-o-Y increase in underlying EBITDA
ADNOC Distribution surpasses its 2023 target of opening 25-35 new service stations by adding 41 stations to its network
Fuel volumes sold in GCC countries (UAE and Saudi Arabia) rise 11.8% in 2023, while non-fuel transactions grow by 12.9% Y-o-Y
Convenience store conversion rate reaches 24.7%, up from 21.7% in 2022, supporting non-fuel gross profit growth of 19.6% Y-o-Y
Abu Dhabi, UAE – February 7, 2024: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), today reported robust results for 2023, recording a 4.6% year-on-year growth in earnings before interest, tax, depreciation and ......read more
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 • Company continued network expansion and exceeded its 2023 target to open 25-35 service stations by adding 41 new stations during the year
• Non-fuel retail business delivered approximately 12.9% year-on-year growth in number of transactions and hit a four-year-high convenience store conversion rate of 24.7%
• Company launched first phase of fast and super-fast electric vehicle charging points, reaching over 50 charging points across its UAE service stations network
• First nine ADNOC-branded service stations were launched in Egypt in 2023
Abu Dhabi, UAE – January 31, 2024: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, today announced early operational results from 2023, with full financial results to be shared in February ......read more
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Abu Dhabi, 08 January 2024: As part of its commitment to uphold the highest environmental and health standards at construction sites and ensure fire safety, the Gas Safety Committee, in collaboration with the Abu Dhabi Department of Municipalities and Transport (DMT), has issued a circular addressing the safe use of gas cylinders at construction sites.
The Gas Safety Committee was established in response to an initiative by the Department of Energy – Abu Dhabi, to assess the safety of liquefied petroleum gas systems in buildings across the emirate. One of the committee’s aims is to ensure the safety of its supply and usage by coordinating efforts, reviewing procedures and establishing standards for gas supply and installation activities, in order to prevent gas-related accidents in the Emirate. The Committee ......read more
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Joint Venture to create dedicated platform targeting global investments in technology-enabled oilfield and energy service companies
Innovative partnership underpins ADNOC Drilling’s market-leading position as an integrated drilling services provider, powering its growth and expansion strategy
Partnership highlights Alpha Dhabi's dedication to diverse and innovative ventures
Strategic collaboration between two leading Abu Dhabi entities with complementary capabilities to accelerate domestic economic development and diversification
Abu Dhabi, UAE – November 10, 2023: ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) and Alpha Dhabi Holding PJSC (‘’Alpha Dhabi’’) (ADX: ALPHADHABI) have agreed ......read more
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Agreement reinforces ADNOC Gas’ position as a global LNG export partner of choice
Agreement builds on the long-standing energy partnership between the UAE and Japan and underscores the Company’s growing global presence, particularly in the Asian LNG market
Latest agreement brings the total value of LNG supply deals since ADNOC Gas’ listing in March this year to between $9.4 billion and $12 billion
Abu Dhabi, UAE – October 17, 2023: ADNOC Gas plc (“ADNOC Gas” or the “Company”) (ADX symbol: “ADNOCGAS” / ISIN: “AEE01195A234”), a large-scale integrated gas processing company, today announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED1.8 billion) and $700 million (AED2.5 billion), ......read more
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Company awards EPC contract for carbon capture units at the Habshan gas processing plant, part of ADNOC’s wider carbon management strategy
Project to capture and permanently store up to 1.5 million tons of carbon dioxide per annum as ADNOC builds unique platform to connect sources of emissions and sequestration sites
Over 65% of the contract value to flow back into the UAE’s economy through ADNOC’s ICV program
Abu Dhabi, UAE – October 3, 2023: ADNOC Gas plc (“ADNOC Gas” or the “Company”) (ADX symbol: “ADNOCGAS” / ISIN: “AEE01195A234”), a large-scale integrated gas processing company, announced today it has awarded a $615 million (AED2.26 billion) Engineering, Procurement and Construction (EPC) contract to Petrofac Emirates for constructing carbon capture ......read more
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 • Company’s dividend policy sets a minimum dividend of $700 million (AED2.57 billion) for full-year 2023, subject to shareholder approval
• Since its IPO in 2017, ADNOC Distribution has consistently delivered attractive shareholder returns and has paid a total of $3.7 billion (AED13.6 billion) in dividends
• The deadline for purchasing shares to qualify for interim dividend payment is 3 October 2023
Abu Dhabi, UAE – September 26, 2023: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), today announced the Board of Directors’ approval of an interim dividend of $350 million (AED1.285 billion) for the first six months of 2023, ......read more
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 The significant step towards showcasing a resolute commitment to sustainability, while keeping Motul’s legacy of high-performance oils in the market, reduces carbon footprint significantly in the manufacturing process.
Dubai - September 12th, 2023: Motul, one of the world’s leading companies specializing in the formulation, production, and distribution of high-tech engine oils, has announced the launch of its NGEN range of engine oil in the Middle East. Motul aims to tackle new challenges in the marketplace with this new engine oil that combines sustainability and high performance.
The NGEN range is made of bio-sourced and premium regenerated base oils for passenger hybrid cars and motorbikes, respectively. The lubricant range made from renewable, non-fossil sources limits Motul’s environmental impact and ......read more
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 •The bilingual survey targets all users and visitors of petrol stations across the UAE.
•Comprehensive survey features nine sections, divided between two key aspects: awareness and commitment.
Dubai, September 5, 2023
The Joint Committee for Security and Safety, represented by the Ministry of Energy and Infrastructure, the General Command of Civil Defense at the Ministry of Interior, and its strategic partners, has launched a comprehensive survey to measure the level of public awareness and compliance with security and safety protocols as part of the joint national awareness campaign for security and safety at gas stations 2023.
The awareness campaign, which is set to run until September 25th, 2023, was carried out in partnership with prominent entities such as Emirates National Oil Company (ENOC), Abu Dhabi ......read more
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 Dividend of AED 1.285 billion (10.285 fils per share) approved for H2 2022 to bring total 2022 dividend to AED 2.57 billion (20.57 fils per share)
General Assembly also approves changes to the dividend policy setting 2023 at a minimum of AED 2.57 billion (20.57 fils per share)
Following the successful completion of its acquisition in Egypt, ADNOC Distribution to rebrand flagship service stations with its first opening in Q3 2023
Company continues electric vehicle (EV) chargers roll-out in Q1 increasing to 36 charging points across UAE while building partnership with TAQA for E2GO
Abu Dhabi, UAE – March 16, 2023: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, announced today that its shareholders have approved all agenda items, including an amendment to ......read more
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 UAE’s largest fuel and convenience retailer reports Y-o-Y growth in EBITDA by 15% and Net Profit by 22%, with total fuel volumes increasing by 8% and commercial volumes up by 19% during 2022
ADNOC Distribution maintained growth momentum throughout Q4 2022 by opening 21 new UAE service stations, expanding local network beyond 500 sites mark
Non-fuel retail transactions increased by 15% during 2022, driven by ongoing focus on customer-centric initiatives such as ADNOC Rewards
ADNOC Distribution has successfully renewed its supply agreement with ADNOC for a new 5-year term
Board recommends dividend of AED 1.285 billion (10.285 fils per share) for H2 2022
Abu Dhabi, UAE – February 09, 2023: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), UAE’s largest fuel and convenience retailer, which is ......read more
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 Company to cut emissions, install solar panels at service stations and use biofuels to power its fleet of vehicles
New sustainability milestones unveiled during Abu Dhabi Sustainability Week will future proof ADNOC Distribution’s business and deliver sustainable long-term shareholder value
ADNOC Distribution becomes first UAE fuel retailer to tap into sustainability linked financing with USD 1.5bn loan
Abu Dhabi, UAE – 20, January 2023: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), announced plans, today, to reduce its carbon intensity by 25% by 2030, by putting sustainability at the core of its day-to-day operations to future-proof its business and deliver sustainable long-term shareholder value.
Central to ADNOC Distribution’s enhanced sustainability drive is a commitment to ......read more
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 Alfa Laval has signed an agreement to deliver compact heat exchangers to the world’s largest green hydrogen plant, which is to be constructed in the Middle East. The facility, powered by renewable energy, will be part of the city of Neom, built from scratch in the northwestern desert, with the ambition of establishing a new model for sustainable living.
According to International Energy Agency (IEA), hydrogen is one of the leading options for storing energy from renewables during days, weeks or even months, and it enables transportation over long distances. However, green hydrogen production has its challenges. When purified water is split into hydrogen and oxygen using renewable electricity, it is crucial to keep a stable temperature in the electrolyser to maximize efficiency. Splitting water into the two gases generates excess ......read more
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 • The UAE’s largest fuel and convenience retailer reports 26% year-on-year growth in EBITDA and 39% in net profit
• Total fuel volumes up 7%, with a 9% increase in non-fuel retail gross profit, driven by customer-centric initiatives and higher traffic at stations
• Continued growth momentum with 47 new stations opened since the beginning of the year with about 80% of the 2022 network expansion target achieved
• Commitment to distribute attractive dividends to shareholders supported by earnings growth
Abu Dhabi, UAE – 11 November 2022: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), today reported that its EBITDA rose by 26% year-on-year to AED 2.86 billion, and net ......read more
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Strategic collaboration agreement allows the companies to explore opportunities for research & development around technologies that can support the UAE’s energy sector
Agreement supports ADNOC’s localization and sustainability targets
ABU DHABI, UAE – Nov. 3, 2022 – Baker Hughes, an energy technology company, and the Abu Dhabi National Oil Company (ADNOC) have signed a strategic technology collaboration agreement during ADIPEC 2022 to explore collaboration opportunities around research and development (R&D) for technologies that can help drive a sustainable energy future in the UAE.
The agreement aims to support the development of technology proofs of concept, technology scale-ups and technology pilots while exploring the feasibility of their deployment across key projects at ......read more
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 Company’s dividend policy sets a dividend of minimum AED 2.57 billion (20.57 fils per share) for full-year 2022
Final day for purchasing shares to fulfil eligibility for interim dividend payment is 5 October 2022
The policy reflects the company’s strong financial position and cash gen-eration ability
Abu Dhabi, UAE – 28 September 2022: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, announced today the approval of an interim dividend payment to shareholders for the first six months of 2022 of AED 1.285 billion (10.285 fils per share), equivalent to USD 350 million. This is the first payment of what is expected to be a full-year 2022 dividend payment of minimum AED 2.57 billion (20.57 fils per share), in line with the Company’s ......read more
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Hassantuk’s State-of-the-Art Smart System Increases Efficiency of Emergency Service Response to Fire and Life Safety Alarms
Abu Dhabi, UAE – July 6, 2022: The UAE Civil Defense announced today the installation of the "Hassantuk" system, a smart early warning system integrated into a UAE Civil Defense network, in all ADNOC Distribution buildings, the UAE’s largest fuel and convenience retailer. The announcement comes in line with the agreement that has been signed with “Injazat Data Systems”, a pioneering UAE provider of digital transformation solutions.
“Hassantuk” system, a strategic public-private initiative between the UAE Ministry of Interior and “Injazat”. Hassantuk is designed to increase the efficiency of emergency services’ responses to all ......read more
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 H2 2021 Dividend of AED 1.285 billion (10.285 fils per share), bringing 2021 total dividend to AED 2.57 billion (20.57 fils per share)
Company reaffirms its commitment to maintaining its growth momentum, with plan to deliver 60-80 new stations in 2022, including 20-30 in the UAE and 40-50 in international markets
Positive growth outlook and earnings momentum in both fuel and non-fuel businesses to accelerate in 2022 and beyond
Company remains on track to deliver minimum of $1bn EBITDA by 2023
Attractive dividend policy set to continue with a minimum of AED 2.57 billion dividend for 2022 and yearly dividend equal to at least 75% of distributable profits from 2023 onwards
March 25, 2021: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, delivered a confident, ......read more
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National non-oil exports set a new record of AED 354 billion, with a growth of 33% from 2020 and more than 47% from 2019
Abu Dhabi - 28 February 2022: The total value of the UAE’s non-oil foreign trade in 2021 amounted to nearly AED 1.9 trillion, reflecting a 27% growth compared to that of 2020, and by 11% compared to that of 2019, as the growth was consistent across all areas of trade including exports, imports and re-exports. The individual non-oil foreign trade figures of all emirates of the country also witnessed growth in varying degrees, which reflects the comprehensive growth achieved by the UAE’s global trade.
The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history, achieving a growth of 33.3% compared to that ......read more
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Baker Hughes and EGPC will reduce emissions across upstream and downstream sites using Baker Hughes’ emissions management portfolio of technologies and solutions
The Memorandum of Understanding will help manage and recover emissions across Egypt’s oil and gas sector
Collaboration will be showcased at COP27 to demonstrate decarbonization initiatives from energy industry
CAIRO – Feb. 15, 2022 - Baker Hughes has signed a Memorandum of Understanding (MoU) at the 2022 Egypt Petroleum Show (EGYPS) with the Egyptian General Petroleum Corporation (EGPC) that aims to establish and drive a flare recovery initiative to support emissions recovery and reduction across Egypt’s upstream and downstream oil and gas operations.
To enable flare recovery from oil and gas sites across Egypt, Baker Hughes will leverage ......read more
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 Badria Khalfan:
- The participation represents a key part of the company’s strategies to reinforce its presence in Egypt.
- Dragon Oil aspires to reach production rates of 65,000-70,000 barrels per day this year.
Dubai, February 12, 2022: Dragon Oil, an upstream exploration and production platform fully-owned by Dubai’s Government, will participate in the 5th edition of the Egypt Petroleum Show (EGYPS-2022) held under the patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt, during February 14-16, 2022 at the Egypt International Exhibition Center with the support of the Ministry of Petroleum and Mineral Resources-Egypt.
Ali Rashid Al Jarwan, CEO of Dragon Oil, may participate with a working paper within the activities of the conference and exhibition, ......read more
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 • Fuel volumes see continued recovery throughout 2021, following an economic upturn alongside easing of travel restrictions
• UAE network reaches 462 service station and 346 c-stores, reaffirming Company’s position as the UAE’s largest fuel and convenience retailer
• Continued progress on international expansion with 40 service stations now operational in Saudi Arabia since its entry to the market in 2018
• The Board recommends dividend of AED 1.285 billion (10.285 fils per share) for the second half of 2021, taking full-year 2021 dividend to AED 2.57 billion (20.57 fils per share)
Abu Dhabi, UAE – 11 February 2022: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi ......read more
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Dubai, January 5, 2022— Houlihan Lokey (NYSE:HLI), the global investment bank, announced today the expansion of its global Oil & Gas team into the Middle East with the appointment of Rouzbeh Fazlinejad as a Managing Director, based in Dubai. This appointment also marks the launch of the firm’s first industry group in the Middle East.
Mr. Fazlinejad joins the firm having held senior positions at both Berenberg and TD Securities. Most recently, he spent three years as Head of M&A at Berenberg, where he led the establishment of its international M&A franchise and also headed the firm’s relationships in the global energy and infrastructure industry. Prior to this, he spent 12 years at TD Securities, ultimately becoming Head of European Energy, advising clients on both M&A and capital ......read more
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 • 2022 Piscines to offer around 1,000 seats for aspiring coders to join the immersive assessment stage
• Registration for Piscine 1 closing January 4
• 42 Abu Dhabi curriculum fosters highly transferable skills and innovative thinking to guarantee coders future relevancy in any industry
Abu Dhabi, UAE – 14 December, 2021: 42 Abu Dhabi, the UAE capital’s innovative and disruptive coding school that provides a unique peer-to-peer, gamified learning methodology, will host six pre-selection events in 2022 as part of ongoing efforts to drive student intake and further fuel the emirate’s global coding capital ambitions.
High school graduates, university students, employees, and those looking for work across all industries with an interest in upskilling or reskilling are ......read more
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 • Consumer and commercial customers can order LPG for delivery through the ADNOC Distribution app
• Available in a number of Abu Dhabi-based locations
Abu Dhabi, UAE - 7 December 2021: ADNOC Distribution, the UAE’s largest fuel and convenience retailer, has expanded its LPG delivery service with 30 new trucks added to its existing fleet of 17, to support door-to-door delivery of LPG cylinders to customers in Abu Dhabi within an hour of ordering.
Consumer and commercial customers can place an order through the updated ADNOC Distribution app, with the ability to also utilize the ‘On the Spot’ ordering service is they wish to use their regular delivery agent.
Orders can be paid for through ADNOC Wallet and card payment on the app, as well as live tracking through to ......read more
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 • First fuel retailer in the Middle East to offer a fully contactless shopping experience using AI technology to allow consumers to shop and pay without the need for a cashier or check out
• Fully autonomous store offers app and bank card entry and payment offers seamless shopping experience
• First next generation store launched at Sheikh Khalifa Energy Complex before wider UAE roll out
Abu Dhabi, UAE – 22 November 2021: ADNOC Distribution, the UAE’s largest fuel convenience retailer, is the first fuel retailer in the Middle East to launch the next generation retail experience, a fully autonomous and contactless and cashier-less ADNOC Oasis store. It offers new, state-of-the-art cashless and contactless payment system and an AI technology enhanced shopping environment.
Busy ......read more
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First contract will manufacture, supply, store and service surface wellhead and tree systems over 10 years in the UAE
Second contract will manufacture, supply, store, install and service liner hanger systems
ABU DHABI – Nov. 18, 2021 – Baker Hughes (NYSE: BKR) has been awarded two contracts from Abu Dhabi National Oil Company (ADNOC) this week for equipment and services across multiple upstream fields and projects in the United Arab Emirates (UAE). The contracts were announced at this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
As part of ADNOC’s largest ever wellheads award globally, Baker Hughes’ Surface Pressure Control (SPC) product line in the Oilfield Equipment business has been awarded a major contract for the manufacture, supply, storage, and servicing of ......read more
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The first Cognitive AI company in the MENA region demonstrates how advanced AI solutions can improve sustainability in the energy sector
Abu Dhabi, UAE, 15 November 2021 – Beyond Limits, a pioneer in industrial and enterprise-grade artificial intelligence (AI), is showcasing technology solutions that can help the oil and gas industry to become more efficient and improve sustainability at ADIPEC 2021.
The company, which leverages a significant portfolio of advanced technology developed for NASA space missions, participates at ADIPEC for the first time ever, exhibiting its Cognitive AI solutions that can help the energy sector to tackle some of the biggest challenges it faces today. Beyond Limit’s Cognitive AI solutions combine historical and real-time data with embedded human knowledge and human-like reasoning, to help ......read more
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October 12, 2021 – Additives and colorant expert Milliken & Company will demonstrate its commitment to the development of the plastics processing sector in the Middle East with a full package of value-adding product innovations and service solutions on its stand 7C140 at ArabPlast 2021.
At the show — being held Nov. 15-18 at the UAE’s Dubai World Trade Center — learn more from Milliken about the following products:
Millad® NX® 8000 ECO clarifier for polypropylene (PP);
Hyperform® HPN® high-performance additives for PP used in thermoforming and injection molding;
DeltaMax™ 5000a performance modifiers for PP used by converters processing impact copolymers; and
KeyPlast® colorants for PET
The new standard in PP transparency
Millad NX 8000 ECO delivers crystal ......read more
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 September 23, 2021: Participants in the 97th edition of the Society of Petroleum Engineers’ Annual Technical Conference and Exhibition (ATCE), underlined the importance of accelerating investments in the oil & gas industry, identifying disruptive technologies and knowledge-based solutions to the challenges of climate change, primarily the transition toward net zero emissions.
Organised by Dragon Oil, an upstream oil and gas exploration, development, and production company fully-owned by Dubai’s Government, the 2021 edition of the ATCE concluded in Dubai today after three days of reviewing groundbreaking papers through special technical sessions to accelerate the application of innovations in every technical discipline related to the oil & gas industry.
The event ran from September 21st-23rd in ......read more
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 Ali Rashid Al Jarwan:
-2021 Society of Petroleum Engineers’ Annual Technical Conference and Exhibition will focus on recharging confidence in oil & gas in a post COVI-19 world.
-ATCE offers visitors engaging experience to discover latest technologies in E&P industry.
Dubai, Sunday, September 19,2021:
Dragon Oil is eying new developments in Turkmenistan, Iraq and Egypt after having survived the challenges of 2020, according to Ali Rashid Al Jarwan, Chief Executive Officer (CEO) of Dragon Oil, an upstream oil and gas exploration, development, and production company fully-owned by Dubai’s Government.
“At Dragon Oil, we are determined to achieve our sustainable growth targets through unlocking new opportunities around the world, including Turkmenistan, Iraq and Egypt. The board has put ......read more
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ADNOC Distribution, the UAE’s largest fuel and convenience store retailer, announced today that it has entered a five-year partnership with Al Muqarram Auto Spare Parts Trading (A-MAP), a market leader specializing in the distribution of quality and reliable aftermarket automotive spare parts, to distribute ADNOC Voyager lubes and greases in the UAE, outside of the ADNOC service station network.
Commenting on the new agreement, Ahmed Al Shamsi ADNOC Distribution Acting CEO said: “Our new distribution partnership with A-MAP embodies our commitment to supporting local suppliers and increasing our In Country Value (ICV) across our value chain. We are looking forward to utilizing A-MAP’s long experience in the UAE market and beyond to innovate our lubes and greases supply operations which will ultimately lead to offering ......read more
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By Ole Hansen, Head of Commodity Strategy at Saxo Bank
A quick note on oil which so far has tumbled 7.5% today in its biggest one-day crash since October. We have for a while now been arguing the price of oil had reached levels that was no longer supported by current fundamentals. Adding to this rising risk adversity from the relentless rise in bond yields and an elevated spec long which stop growing more than a month ago.
WCU: Yields keeping a lid on commodities; Oil maxed out (March 12)
Crude oil traded close to unchanged on the week as the market struggled for direction. Earlier in the week, a failed attack on a Saudi oil installation drove Brent crude above $70/b but the 7% correction that followed could reflect a market that potentially may have gotten close to its current potential. Despite being supported by the ......read more
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 Oil prices have been on a tear in early 2021, even though a new U.S. administration focused on clean energy. The Biden White House plans to move to a net-zero emission economy, and several U.S. carmakers have announced they will go all-electric or mostly electric within the next 2-decades. Telsa is also continuing to push out electric vehicles and has seen its share price hit all-time highs in 2021. The share prices of Tesla, GM, and Ford, have been on a tear.
What is Going on With Oil Prices
Even though the government and the private sector in the U.S. is focused on clean energy, oil prices have rallied back to 11-month highs. The lack of U.S. production and rising demand has been the catalyst behind the rally in oil prices. U.S. Domestic production is currently at 11-million barrels a day. This compares to production 1-year ago ......read more
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United Arab Emirates - December 06, 2020: The post-November 9 surge in risk appetite on vaccine optimism extended into December with stock markets, led by Asia, continuing higher while the Bloomberg Dollar Index, which tracks the performance of ten leading global currencies versus the U.S. dollar, slumped to a 32-month low. These developments combined with additional stimulus being discussed in the U.S. and Europe and OPEC+ reaching a sensible compromise on post-pandemic production increases helped boost crude oil and metal prices, both industrial and precious.
The agricultural sector paused following a 25% rally since June with cocoa, wheat and coffee the main losers. Scraping the bottom was once again natural gas which slumped by more than 10% with milder-than-normal U.S. winter weather raising doubts about ......read more
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 GCC oil and gas players have started to move in the right direction towards a cleaner future and must continue their efforts to decarbonize their operations
Dubai, UAE, November 15, 2020: The era in which oil and gas (O&G) companies must demonstrate the carbon-neutral operational capacity of new portfolio assets looms ever-closer, and GCC operators must act now to establish sustainable decarbonization strategies, according to a new report by Boston Consulting Group (BCG). The report, titled ‘A Decarbonization Roadmap for Upstream Oil and Gas,’ explains how firms can reduce their carbon footprint in response to pressure from stakeholders and regulators, build a stronger brand, and drive evolution across the industry.
Data from BCG’s proprietary decarbonization tool show ......read more
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$15 trillion-worth of investment expected to be made in new power capacity globally by 2050
Clean growth presents biggest economic opportunity of the 21st century for nations worldwide
Abu Dhabi, UAE – November 12, 2020: The global oil and gas industry has an “historic opportunity” to lay the foundations for a more sustainable future, the Abu Dhabi International Petroleum and Conference (ADIPEC) 2020 Virtual - the world’s largest online gathering of oil and gas industry players - has heard.
In his address at ADIPEC’s Strategic Virtual Conference, the UK Minister for Exports, Graham Stuart, made the comment as he warned “the price of inaction could not be greater as we face an existential battle to keep global mean temperature below ......read more
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Strategic move allows more proximity to some of the world’s largest oil producers
Nov. 10, 2020 - Baker Hughes announced that it has moved its Surface Pressure Control Projects business (SPC Projects) headquarters from Houston to Abu Dhabi, bringing its operations closer to some of the company’s strategic customers and oil producers globally. The move will ensure better alignment on strategy, decision-making and implementation of projects.
The announcement comes during the same week as the virtual ADIPEC 2020 event and builds on Baker Hughes’ 2019 opening of a wellheads facility in Abu Dhabi. By bringing the headquarters closer to one of its largest Pressure Control manufacturing sites in Saudi Arabia, the SPC Projects business will be better suited for future growth and expansion.
SPC Projects is a part of the ......read more
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 September 20, 2020: The Bloomberg Commodity Index, which tracks a basket of major commodities spread evenly across energy, metals and agriculture, traded higher for the first time in three weeks. A softer dollar, continued buying momentum among major U.S. crop futures and a Saudi-fueled bounce in oil products, together with Chinese economic optimism all helped support a week of broad-based gains across all three sectors. Gold traded quite passively with ‘algo’ traders currently in charge, something that for now has resulted in an unusually high positive correlation with the movements in the S&P 500 index.
Crude oil and fuel products led from the front as the sector recovered from the recent correction. The OPEC+ meeting saw a strong attack from the Saudi oil minister on members cheating on quotas and ......read more
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 • Siemens Energy to supply 20 compressor trains for a critical gas project in the Kingdom of Saudi Arabia (KSA)
• The project will enable the operator to manage its surplus gas volumes efficiently to meet seasonal demands
July 29, 2020: Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. The plant includes a gas injection facility with a capacity of 1,500 million standard cubic feet per day (MMSCFD) (42,475,270 cubic meters per day, or m3/d) and a withdrawal facility capable of processing up to 2,000 MMSCFD (56,633,693 m3/d) of gas.
Siemens Energy received the order from Samsung Engineering, who was awarded the engineering, procurement, and construction (EPC) contract for the ......read more
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