Oman Hydrogen has signed 6 agreements for green hydrogen production in Oman worth more than $20 billion, the Omani state news agency reported. The deal includes several developers from different countries and will last for seven years, the state agency added. Oman aims to increase green hydrogen production from 32,500 to 3.75 million tonnes per […]
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Aramco targets $55 billion investments; eyes increased oil and gas production
Aramco, the world’s most profitable energy company forecast its capital expenditure for 2023 between $45 to $55 billion in its largest spending exercise to date as it looks to increase its output capacity to 13 million b/d by 2027, the Saudi giant said in its full year financial results on March 12. Aramco continues to […]
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Abu Dhabi’s $6.2 billion Borouge 4 project to begin operations in 2025
Borouge 4, a new polyolefins complex being built in Ruwais by major shareholders ADNOC and Borealis, is progressing as planned and is set to begin operations in 2025, according to Borouge, a petrochemical company that specialises in innovative and distinctive polyolefin solutions. The new complex is expected to add 1.4 million tonnes of polyethylene capacity, […]
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UAE Ministry announces Ramadan working hours
UAE’s Ministry of Human Resources and Emiratisation (MoHRE) has announced a reduction in working hours for all private sector employees during the Holy month of Ramadan. The announcement was made on Twitter on Monday and follows the implementation of Clause 2 of Article 15 of Cabinet Resolution No. 1 of 2022. As per UAE labour […]
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Oman ramps up oil production, data shows
Oil production in the Sultanate of Oman increased by 3.6%, reaching 33.23 million barrels by the end of January 2023. Crude oil production recorded 25.9 million barrels, while the production of condensate oil reached about 7.45 million barrels, according to preliminary data issued by the National Center for Statistics and Information. China topped the list […]
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UAE’s energy sector will reach new heights, energy minister says
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, noted that the UAE will continue to forge ahead to ensure the energy sector reaches new heights through collaboration and a steadfast commitment to excellence and leadership. Al Mazrouei made these comments on the sidelines of a session titled ‘Charting the Future of the UAE’s […]
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Aramco reports record net income of $161.1 billion on higher oil prices
Saudi energy giant Aramco today announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023. The exceptional financial performance was underpinned by stronger […]
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