Eni’s CEO Claudio Descalzi and Dr Sultan Ahmed Al Jaber, group CEO of ADNOC, signed on March 4 an agreement for joint projects on energy transition, sustainability and decarbonisation. Through this agreement, Eni and ADNOC intend to explore potential opportunities in the areas of renewable energy, blue and green hydrogen, carbon capture and storage (CCS), […]
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ADNOC Drilling signs $252 million contract for hybrid power land rigs
ADNOC Drilling Co has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million, the company said on March 2. The use of hybrid power solutions is an essential element of ADNOC Drilling’s “rigorous decarbonisation strategy,” the company noted. The rigs use a high capacity battery and […]
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ADNOC eyes $2 billion from gas unit IPO
The final offer price is expected to be announced on March 3
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IPO bonanza begins: ADNOC to list 4% of its gas unit
State-owned energy giant ADNOC announced today its intention to float about 4% of its gas business in an initial public offering on the Abu Dhabi Securities Exchange (ADX). ADNOC Gas listing will be the first major IPO on the ADX in 2023 after a listing bonanza for markets in the GCC last year as issuers […]
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Historic moment: ADNOC delivers first Middle East LNG cargo to Germany
ADNOC and RWE announced today the successful delivery of the first shipment of LNG from Abu Dhabi to the Elbehafen floating LNG terminal in Germany. Produced by ADNOC Gas at Abu Dhabi’s Das Island, the shipment of 137,000 cubic meters of LNG is the commissioning cargo for the new floating LNG terminal in Brunsbüttel and […]
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ADNOC Drilling reports record profits, $10 billion contracts in 2022
ADNOC Drilling Co today reported record breaking net profits totaling $802 million, up 33% year-on-year. Additionally, the company secured over $10 billion of contract backlog during the period, ADNOC Drilling’s CEO Abdulrahman Abdulla Al Seiari noted. The company also achieved record revenue during the fourth quarter of 2022, while its fleet expansion program delivered the […]
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EPC giant NMDC reports profit growth; $2.6 billion contracts
UAE’s EPC heavyweight National Marine Dredging Group (NMDC), with over $15 billion of projects under execution, has grown its net profit by 30% in 2022 to reach $350 million, the company recently reported. The company also noted that it secured contracts worth $2.6 billion last year. While the group strengthened its position locally and regionally, […]
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Multi-billion oil and gas projects to create significant jobs in the Middle East
Strong outlook ahead for Middle East oil and gas jobs, according to a recruitment expert.
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ADNOC signs $4.63 billion deals with 23 companies
Abu Dhabi‘s state-owned energy giant ADNOC has signed new deals worth $4.63 billion with 23 companies to manufacture locally a wide range of critical industrial products. The products that will be produced locally include pipes and fittings, valves, bends and cladded pipes, industrial pumps, batteries, pipes and fittings, among many others. Proclad, Tri Star […]
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UAE’s fuel retailer ADNOC Distribution announces decarbonisation targets
ADNOC Distribution, the state-owned company specialized in the national and international marketing and distribution of petroleum products, on Friday announced plans to reduce its carbon intensity by 25% by 2030 by putting sustainability at the core of its day-to-day operations. The fuel retailer said it will work to decarbonise operations by reducing its Scope 1 […]
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