“United Mining Industries” Distributes 7% Cash Dividends to Shareholders
الأربعاء ٢٨ أغسطس ٢٠٢٤
On August 27, 2024, United Mining Industries "United Mining"distributed a 7% cash dividend to its shareholders
“United Mining Industries” Distributes 7% Cash Dividends to Shareholders
On August 27, 2024, United Mining Industries "United Mining"distributed a 7% cash dividend to its shareholders
SABIC Expands Propylene and Polypropylene Plants
Saudi International Petrochemical Company (Sipchem) has signed contracts to expand two of its propylene and polypropylene plants
Mubadala Acquires 100% Ownership of a Global Biologics Company
Mubadala Investment Company, a global sovereign investment company based in Abu Dhabi
“East Oil” Signs a Contract to Supply Engine Oils to Ethiopia
East Oil Chemical Industries announced in a statement to the Saudi Stock Exchange (Tadawul) today
TAQA Completes Financing for SATROP Expansion in Saudi Arabia
Abu Dhabi National Energy Company (TAQA), in collaboration with Japan’s largest power generation company
“ACWA Power” Invests 260 Million Dollars in “Wind” in Uzbekistan
ACWA Power has announced the development of the Biruni autonomous wind power plant project in Uzbekistan, with an investment value of USD 260 million
Chinese Energy Engineering Constructs a Giant Solar Plant in Saudi Arabia
China Energy Engineering Corporation has achieved a significant breakthrough in Saudi Arabia’s renewable energy market
Rise in Profits for UAE’s TAQA by 17% in Q2
The Abu Dhabi National Energy Company "TAQA" reported a 17% year-on-year increase in its Q2 profits, reaching AED 2.3 billion
JLL Dubai Headquarters Achieves Carbon Neutrality Milestone
Global real estate consultancy JLL and Mashreq, a leading financial institution in the region, celebrate the LEED Zero Carbon certification of Mashreq’s Dubai headquarters
Petronas Withdraws from South Sudan Amid Rapid Energy Transition
Malaysia’s state-owned energy company Petronas has announced its withdrawal from South Sudan as it restructures its investment strategy to align with business conditions.
ADNOC Raises “Murban” Price and Funds Expansions with $1.25 Billion
Abu Dhabi National Oil Company (ADNOC) set the official selling price of its benchmark Murban crude for September at $83.80 per barrel
Gas Company Profits Rise by 6.4% in the Second Quarter of This Year
The profits of the National Gas and Industrialization Company, "Gasco", increased by 6.4% to 58 million riyals in the second quarter of this year
“Aramco” Boosts Its Investments in LNG with a Partnership with “Sempra”
Saudi energy giant Aramco is steadily moving toward a more diversified and sustainable future. After announcing its financial results
Aramco Reports Strong Q2 Earnings, Exceeding Analyst Expectations
Saudi Aramco, the global oil giant, has announced strong financial results for the second quarter of 2024, exceeding analyst expectations and achieving
Enersol Strengthens Global Energy Position with New Acquisition
Enersol, the joint venture between ADNOC Drilling and Alpha Dhabi Holding, has announced a new acquisition deal
Emirates Water and Electricity Company (EWEC) and Mediclinic Middle East have announced the extension of their strategic partnership
Saudi Arabia Raises Oil Prices in Asia for the First Time in Three Months
For the first time in three months, Saudi Arabia, the world’s largest oil exporter, has increased the official selling price of its Arab Light crude to Asia for September
French Energy Company ENGIE’s Profits Drop by 16%
French energy company ENGIE saw a 16% drop in profits in the first half of this year as warmer-than-usual winter weather
Aramco Holds Strong as the Middle East’s Most Valuable Brand, While Green Tech Makes Waves
Oil giant Aramco continues its reign as the Middle East’s most valuable brand, boasting a staggering $41.6 billion valuation
Masdar Acquires a Large Share of Spanish Renewable Energy Projects
Masdar, the UAE’s leading global clean energy company, has made important developments in its global investments
BP’s Profits Were $2.76 Billion in the Second Quarter
Oil giant BP announced strong financial results for the second quarter of the year, with its profits exceeding expectations
Total Energies Withdraws from Gas Exploration Projects in South Africa
Total Energies has decided to withdraw from huge gas discoveries in South Africa, threatening the country’s ambitious energy plans
Liquidation of the Oldest Metals Company after Years of Financial and Administrative Decline
The Egyptian Metal Construction Company, "Metalco", the oldest metals company in Egypt and the Middle East, has announced its liquidation after years of financial and administrative decline that ultimately led to accumulated losses and eroded capital.
Eni’s Net Profits Fell by 21% During the Second Quarter of This Year
The Italian energy giant Eni revealed that its adjusted net profits declined by 21% during the second quarter of this year compared to the same period last year
Sellafield Receives First All-Electric Locomotive to Reduce Carbon Footprint
Sellafield Ltd, the operator of the largest nuclear waste site in the UK, celebrated the delivery of its first fully electric locomotive
ADNOC to Build Nine Giant Carriers for $1.91 Billion
The UAE’s ADNOC Logistics & Services announced that its subsidiary, AW Shipping, in collaboration with China’s Wanhua Chemical Group
Saipem Wins Contract to Monitor Gas Pipeline Between Libya and Italy
Italian energy company Saipem has secured a contract to provide underwater monitoring and intervention services
Masdar Launches a Second Green Bond Issuance Worth $1 Billion
Abu Dhabi Future Energy Company "Masdar" has successfully completed its second green bond issuance
Peugeot Launches the New Electric SUV E-3008
Peugeot has announced the launch of its new electric vehicle, the E-3008, which falls under the category of compact SUV models
“Infinity Power” Develops Renewable Energy Projects in Cameroon
Infinity Power, Africa’s largest renewable energy provider, has signed a memorandum of understanding with the Regional Council of Western Cameroon
Addis Aims to Acquire Companies Worth $1.5 Billion
Addis Holding, the leading company providing drilling and production services to the oil and gas sector
Eni Digs Two New Wells in the Zohr Field with Investments of $160 Million
The Italian company Eni, the largest foreign investor in the energy sector in Egypt, intends to drill two new wells in the Zohr field in deep Mediterranean waters, with investments estimated at $160 million
Aramco Seeks to Raise $3 Billion from the Sale of Bonds
Saudi Aramco, the Saudi oil giant, intends to issue bonds worth at least $3 billion for the first time in three years.
Europe Replaces Russian Gas with American Gas Through Shell and MET Group
The Swiss company MET Group has concluded a long-term agreement with the American company Shell to purchase liquefied gas as part of its efforts to secure its gas needs away from Russia.
Decreased Profits and A Decline in the Value of Assets Cause BP’s Shares to Decline
BP shares fell 2.7% after it warned of weak profitability in the oil refining sector and expected a decline in the value of a German refinery.
Trina Solar Offers Advanced Photovoltaic Solutions
Trina Solar has joined the Scientific and Technological Innovation Board of the Shanghai Stock Exchange.
Dubal Buys a Majority Stake in Biodiesel
Dubal Holding Company, the investment arm of the Dubai government in the commodities, mining, energy, electricity, and industrial sectors
ExxonMobil: Refining Profits to Fall by $1.5 Billion in the Second Quarter
Oil giant ExxonMobil has forecast a sharp decline in refining operations amid weak margins in the sector.
Eni Announces a Huge Oil Discovery in Mexico
The Italian company Eni has achieved a new milestone in its journey to discover oil and gas in Mexico with the announcement of a huge oil discovery in the Sureste Basin.
Korea Telecom Company Crisis for Its Delay in the Electric Battery Race
The South Korean telecom company faces challenges compared to its competitors such as LG and Samsung SDI.
ADNOC Allocates 40% of Ruwais Gas Project to Four International Energy Companies
Abu Dhabi National Oil Company ADNOC intends to allocate 40% of the Ruwais LNG project to four major international energy companies: Shell, Total Energies, BP, and Japan’s Mitsui.
Lotus Launches Its 450-Kilowatt EMEA Electric Car
Lotus launched its new electric car, Emeya, at a starting price of 106,400 euros, which puts it in direct competition with the German Porsche Taycan and the American Lucid Air.
Qatar Energy Supplies Naphtha to Japan’s INEOS for 10 Years
Qatar Energy stated that it had signed a 10-year long-term agreement with Japan’s INEOS Corporation to supply up to 9 million tons of naphtha for 10 years, starting next July
“Fisker” Provokes Controversy Over Suspicious Deal with Creditors Before Bankruptcy Filing
Fisker, the prominent electric vehicle manufacturer, finds itself embroiled in controversy following a dubious agreement struck with one of its key creditors, Heights
Carlyle Expands into Strategic Gas Assets in the Mediterranean
Carlyle International Energy Partners has successfully acquired a portfolio of highly promising exploration and production assets in Italy, Egypt, and Croatia
OpenAI Revenue Jumps to $3.4 Billion
OpenAI, a company specializing in artificial intelligence, has achieved a tremendous achievement by registering tremendous growth in its annual revenues.
Polestar Launches a New Luxury Electric Car
Polestar, the Swedish company specializing in manufacturing electric cars, has unveiled its new car, the Polestar 3, which is a luxury electric SUV with a driving range of more than 600 kilometers.
Additional Customs Duties on Tesla Cars Made in China
Tesla faces special customs duties on its electric cars made in China and imported to Europe after the European Union decided to impose higher customs duties on Chinese electric cars of up to 38%.
“Infinity Power” Stops Charging Electric Cars in “Egypt”
Infinity Power, a provider of electric vehicle charging solutions in Egypt, announced that it will stop using the CHAdeMO charging protocol on all of its fast chargers starting June 30, 2024.
The UAE’s Taqa Withdraws from the Naturgy Deal in a Startling Turn of Events
Abu Dhabi National Energy Company (Taqa) has issued an unexpected apology for its involvement in the bid to acquire shares in the Spanish gas and electricity giant, Naturgy.
7.125 Billion Riyals Increase in the Capital of “ACWA Power”
The Saudi company "ACWA Power", listed on the Saudi stock market (Tadawul), intends to increase its capital by 7.125 billion Saudi riyals (1.9 billion US dollars)
Foreign Investors Purchase Over Half of Aramco Shares
Saudi Arabia has allocated more than half of the $11.2 billion share sale in Aramco (2222.SE) to foreign investors.
Aramco offers 1.545 billion shares for subscription to raise $13.1 billion
Aramco offered approximately 1.545 billion shares, equivalent to 0.64%, of its shares for subscription at a price ranging between 26.7 riyals and 29 riyals per share, with a total of slightly less than $12 billion.
Within the framework of its keenness to build bridges of communication and cooperation with regional and international organizations, a delegation from the Saif Bin Hilal Center for Studies and Research in Energy Sciences visited the headquarters of the General Secretariat of the League of Arab States.
Aramco signs contracts worth $12 billion to supply pipelines
Saudi Aramco, the national oil giant, has concluded huge contracts worth more than 3.1 billion Saudi riyals with Group Five Pipe and Al Sharq Integrated Pipe for Industry to supply steel pipes for its projects.
ConocoPhillips acquires Marathon Oil for $17 billion
The American company ConocoPhillips announced its acquisition of the American company Marathon Oil in an all-stock deal worth $17 billion.
“ADNOC”: Increasing gas stations to 1,000 and launching 500 electric chargers
ADNOC Distribution Company, the leader in fuel distribution and diversified services in the United Arab Emirates, unveiled its ambitious strategic plan for expansion and growth over the next five years.
Aramco is supervising the development of the largest onshore oil field in the world
Saudi Aramco, the global oil giant, announced its supervision of the development of the Safaniya field, the largest onshore oil field in the world in terms of recoverable reserves and production capacity.
Trina Solar strengthens its presence in the Middle East and Africa
Trina Solar has signed three transformative distribution partnerships; This represents a significant expansion of its reach across the Middle East and Africa region, and will enhance its presence and cooperation with local companies.
Debts plunge PEMEX's oil production to its lowest level
Mexican state oil company Pemex faces a severe production crisis; Its crude oil production fell in April to its lowest level in 45 years; Which portends major economic challenges for the country.
“Masdar” signs agreements with Indonesian partners to develop energy projects
Abu Dhabi Future Energy Company “Masdar” has signed a series of strategic agreements with prestigious Indonesian partners to develop huge renewable energy projects in Indonesia.
Selling an additional stake in ADNOC Drilling for $935 million
Abu Dhabi National Oil Company (ADNOC) announced the completion of the sale of an additional stake worth $935 million in ADNOC Drilling Company, its drilling unit listed on the Abu Dhabi Stock Exchange.
“Orcadian Energy” concludes an agreement to develop North Sea fields
Orcadian Energy, a British developer of oil and gas assets, has entered into an internal partnership agreement with an undisclosed partner to develop its North Sea Farm-in Deal licence.
ADNOC acquires 10% of a liquefied gas project in Mozambique
The UAE company ADNOC announced the acquisition of a 10% stake from Ghalib Company in the Zone 4 concession in the Rovuma Basin in Mozambique. This represents its first investment in this country, and the value of the deal was not disclosed.
Enara Renewable Energy intends to offer its shares on the Egyptian and Gulf stock exchanges
The Egyptian Enara Group, the company working in the field of renewable energy, revealed its plans to offer its shares for public subscription and dual listing on the Egyptian Stock Exchange and one of the Gulf stock exchanges during the next year.
Actis invests $3 billion in renewable energy in Africa
Dr. Sherif El-Khouly, partner and regional head of North Africa and the Middle East for the British private equity firm Actis, said that the company’s investments in the African continent have exceeded $3 billion.
“Mubadala”: We completed our first renewable energy projects in “Japan”
Mubadala Investment Company, the sovereign investment company in Abu Dhabi, has completed an investment project in Japan through BAG’s renewable energy platform PAG REN I in the Asia-Pacific region.
48% increase in Nayara Energy sales during the first quarter of 2024
Nayara Energy, a leading fuel retailer in India, recorded a notable 48% jump in petrol sales during the first quarter of 2024, while exports witnessed a notable decline.
Petrobras president fired over profits
The CEO of Brazilian state oil company Petrobras, Jean-Paul Prats, has been sacked over heated disagreements over dividends and growing concerns about government interference in the decisions of the IPO-listed company.
“New Sun Energy” strengthens its presence in the region with a regional headquarters in “Dubai”
New Sun Energy, a global leader in solar energy solutions, has opened its new regional headquarters in Dubai.
“Saudi Pipes” supplies equipment to “Aramco” for 138.6 million riyals
The Saudi Steel Pipe Company (Saudi Anbeeb) won a contract to supply steel pipes for oil and gas to Saudi Aramco worth 138.6 million riyals.
“Petroleos del Peru” demands that the government privatize it due to losses
The board of directors of the troubled Peruvian state-owned oil company, Petroleos del Peru, has demanded that the government sell a majority stake in the company to the private sector, as it continues to incur losses.
“Dome” and “InSolar” lead solar energy projects in the Middle East
Dome and InSolar Energy Group have signed a formal joint venture agreement aimed at targeting utility-scale, commercial and industrial ground-based solar PV projects.
“Saudi Minerals” profits jump 134% in the first quarter
The financial statements of the Saudi Arabian Mining Company (Maaden) showed record profits in the first quarter of 2024, rising by 134% on an annual basis.
A historic agreement between “Norway” and “India” in the field of green ammonia
Yara, a Norwegian company specializing in the manufacture of fertilizers and ammonia, signed a historic agreement with AM Green, an Indian company specializing in the field of clean energy. To sell its green ammonia production
“Kuwait Oil”: Connecting renewable energy stations to the national electricity grid
Kuwait Oil Company, owned by the Kuwaiti government, signed a memorandum of understanding with the Ministry of Electricity, Water and Renewable Energy to connect the renewable energy plants it intends to establish with a capacity of 1 gigawatt to the national electrical grid.
DEWA achieves a scientific achievement by publishing 73 research papers in 2023
The Research and Development Center of the Dubai Electricity and Water Authority (DEWA) has achieved an important achievement by publishing 73 peer-reviewed scientific papers in the Scopus database during the year 2023.
Shell launches a project to remove carbon and protect the environment in Brazil
Shell has launched the innovative H2R project, which aims to significantly reduce carbon emissions from its offshore operations in Brazil.
“Qatar Energy” wins 40% of the exploration and production rights for two gas fields in “Egypt”
Qatar Energy Company announced its acquisition of a 40% stake in two natural gas exploration areas off the coast of Egypt, as part of an agreement with the American company Exxon Mobil.
“America” renews the license for a Venezuelan oil company despite the sanctions
The US Treasury today announced an extension of the general license allowing certain transactions with Venezuelan state oil company PDVSA until November 15, 2024.
“Equinor” enters the lithium market to confront fluctuations in oil and gas prices
Equinor, the Norwegian oil and gas giant, has entered the lithium market, in a strategic move aimed at mitigating the effects of oil and gas price fluctuations and hedging the energy future.
“ADNOC Distribution” profits $248 million thanks to the expansion of its business
ADNOC Distribution, the leading fuel distribution and retail company in the UAE, announced its exceptional financial results for the first quarter of 2024.
An agreement between “Türkiye” and “Brazil” to develop joint projects in gas and energy
Turkish floating energy provider Karpowership has signed an agreement with Brazilian state oil company Petrobras to develop joint projects in the natural gas and energy sectors.
“Mubadala” invests in the largest urea fertilizer production plant in “Australia”
The Emirati investment company Mubadala revealed its investment in a urea fertilizer production plant belonging to the Australian company Perdaman, alongside the Global Infrastructure Partners fund.
Aramco’s profits fell by 14.4% and 116.51 billion riyals were distributed to shareholders
The Saudi oil giant “Aramco” revealed that its profits in the first quarter of 2024 decreased by 14.4%, bringing its profits to about 102.3 billion riyals, equivalent to 27.3 billion dollars.
“Brissite” acquires 51% of “AIQ”
Abu Dhabi National Oil Company (ADNOC), G42 Company and PreSight Holding Company, listed on the Abu Dhabi Stock Exchange, announced a new ownership structure for AIQ shares.
B.Grimm Power acquires 40% of a company specializing in solar energy based in the “UAE”
B.Grimm Power Public Company Limited, B.Grimm Power has acquired a 40% stake in solar energy company ThreeEightSix Holdings Ltd.
A decrease in demand for SABIC products and its profits are lower than expectations
Although SABIC returned to profitability in the first quarter of 2024 - which reached 250 million riyals - profits fell below analysts’ expectations, which indicates the continuing challenges facing the company.
Shell withdraws from China's electricity markets
British energy company Shell has withdrawn from China's electricity markets, as part of a new strategy aimed at focusing on more profitable areas, with a focus on its natural gas and oil business units.
“Masdar” of the Emirates enters the Bahraini market through wind energy
Masdar Future Energy Company in Abu Dhabi and Bahrain's Bapco Energy Company signed an agreement today, Wednesday, aimed at exploring cooperation opportunities in the field of investment and development of wind energy projects in the Kingdom.
A 30% drop in Petrofac shares worries investors…and the stock market stops trading
Shares of Petrofac, a company specializing in oil and gas field services, fell by more than 30% on the London Stock Exchange today, recording a sharp decline that raised investors’ concerns about the company’s future.
Details of Shell's profits from oil and gas trading are revealed for the first time in a lawsuit
Documents from a lawsuit filed by a former employee revealed that US crude oil trading generates profits for Shell amounting to one billion dollars annually.
Sungrow presents advanced solar energy solutions at the “Green Energy 2024” exhibition
The Green Energy 2024 exhibition witnessed the distinguished participation of Sungrow, the leading global supplier of solar inverters and energy storage systems.
Engie sells its stake in coal in Morocco and turns to renewable energy
Regional Director of the French energy company Engie in North Africa, Loic Geigert Huber, said that the company has decided to abandon coal completely by 2027.
Azerbaijan's state oil company "SOCAR" and Saudi Arabia's "ACWA Power" company signed a cooperation agreement aimed at accelerating the development of renewable energy projects in Azerbaijan.
“BlackRock”: $4 trillion annually to achieve the green energy transition
The BlackRock Investment Institute released new scenarios for the energy transition, indicating the need for huge investments amounting to $4 trillion annually by the middle of the next decade.
The state-owned Oman LNG Company signed an agreement with the Turkish company Botash to supply one million metric tons annually for a period of 10 years starting in 2025.
The UAE “Masdar” targets one billion dollars in green bonds to enhance its clean energy plans
Masdar, a global leader in renewable energy solutions, announced its intention to issue green bonds worth between $750 million and $1 billion during 2024.
Trina Solar is using the power of the desert in pioneering solar projects in the Middle East
The Middle East region faces challenges in using solar energy due to its arid desert terrain. That's why Trina Solar, along with its partners, is working
The Emirati company Masdar, a leader in the field of renewable energy, announced important developments in green hydrogen projects in 3 Arab countries: Egypt, Morocco, and the Sultanate of Oman.
Abu Dhabi Future Energy Company - “Masdar”, a pioneer in the field of clean energy, and Emirates Global Aluminum (EGA), the largest global producer of high-quality aluminium, have signed
“Abu Dhabi Energy” seeks to acquire the Spanish “Naturgy”.
Abu Dhabi National Energy Company - “TAQA” - announced that it has entered into talks with two major shareholders of the Spanish energy and gas company “Naturgy”.
“ADNOC” intensifies its efforts to acquire “Covestro”
The UAE's ADNOC held talks with the German company Covestro. ADNOC has been intending to acquire Covestro since last year
The UAE’s “Taqa” acquisition of “Naturgy” raises questions about energy security in “Spain”
The Emirati company TAQA announced the acquisition of the Spanish energy company Naturgy, in a move that could give it significant control over the energy sector in Spain.
“JSW Energy Limited” raises INR 50 billion to accelerate growth plans
JSW Energy Limited, part of conglomerate JSW Group, has announced raising INR 50 billion (about US$661 million).
“Shell”: Gas trading profits declined in the first quarter of 2024
Shell announced a decline in gas trading profits during the first quarter of 2024, but they are still high according to normal rates.
“Cargas” achieves a historic achievement by reaching 4 billion pounds in revenues in 2023
Cargas, the Egyptian natural gas company for automobiles, witnessed an exceptional year in 2023. It achieved activity revenues approaching 4 billion pounds for the first time in its history
Siersdorfer appointed Leader of the Middle East and Africa Region at Siemens Energy
Siersdorfer, who has been with Siemens Energy since 1987, has been appointed leader of the Middle East and Africa region, replacing Nadja Håkansson.
“Masirah Oil” begins an intensive drilling program in Block 50 off the coast of “Oman”
Masirah Oil has begun an ambitious drilling program in Block 50 off the coast of the Sultanate of Oman, aiming to increase production and enhance oil reserves.
ADNOC is investing $13 billion to strengthen its leadership in liquefied natural gas
Abu Dhabi Gas Company, the integrated gas processing unit of Abu Dhabi National Oil Company (ADNOC), announced its plans to invest more than $13 billion until 2029.
“Iraq” signs a memorandum of understanding with “Siemens Energy” and “Schlumberger”
The Iraqi Ministry of Oil took a positive step by signing a memorandum of understanding with Siemens Energy and Schlumberger. This memorandum aims to invest and process associated gas from oil fields
Trina Solar, a leader in the field of renewable energy, announced the completion of the largest solar power plant in New Zealand, in cooperation with Loadstone Energy Company, and the plant is known as “Kohira”.
ACWA Power strengthens its presence in Central Asia with an energy agreement worth $262.7 million
Saudi Arabia's ACWA Power, a leading renewable energy company, announced the signing of a power purchase agreement with the national electrical grid in Uzbekistan.
Borouge plans to expand in Asia with a potential merger worth 30 billion euros
Borouge, the largest chemicals producer in the United Arab Emirates, plans to strengthen its presence in the Asia-Pacific region through a mega merger deal.
A Ukrainian energy company suffers losses of about $300 million
The CEO of the Ukrainian energy company DTEK announced that the Russian attacks on power stations in Ukraine led to damage to a large number of Ukrainian power stations.
Abu Dhabi National Energy Company (TAQA) and the Japanese company JERA signed a partnership agreement.
Positive Zero and Al Tamimi Energy Company announced the signing of a strategic partnership agreement to develop and implement solar energy projects throughout the Kingdom of Saudi Arabia.
Saudi “Addis” signs an agreement to increase production of obsolete oil fields in “Egypt”
The Saudi Addis Holding Company has concluded an agreement with the Egyptian General Petroleum Corporation to increase the production of obsolete oil fields in Egypt, with a total value of 247.5 million riyals ($66 million) over 10 years.
Amin Nasser, President and CEO of Saudi Aramco, during a speech at the China Forum, stressed the importance of development in Beijing and the possibility of enhancing cooperation between Aramco and its Chinese partners.
“Petro Rabigh” company records losses of 4.7 billion riyals in 2023
Saudi Arabia's Rabigh Refining and Petrochemical Company (Petro Rabigh) recorded net losses of 4.7 billion riyals in 2023, an increase of 300% from the previous year.
Czech “CEZ” plans to acquire 55.21% of “GazNet” company
CEZ announced its plan to acquire 55.21% of GazNet, which had been owned by Macquarie Asset Management since 2013.
The Arab Energy Fund achieves its highest net income thanks to asset growth
The Arab Energy Fund (TAEF) announced that it has achieved a historic achievement by recording its highest net income ever. It reached $225 million in 2023, an increase of 51% over the previous year.
Unipec sends a giant oil tanker carrying Libyan crude to Asian customers
Unipec, the trading arm of China Petroleum and Chemical Corporation (Sinopec), moves a huge tanker loaded with crude from Libya's Abu Attifel field to meet demand in Southeast Asia.
The UAE’s “Masdar” acquires 50% of the American “Terragen Power”.
Abu Dhabi Future Energy Company, Masdar, said on Tuesday that it had signed a final agreement to acquire a 50% stake in Terra-Gen Power Holdings.
Chinese “Sinochem” purchases the first shipments of crude via a Canadian pipeline
Sinochem Group, a Chinese conglomerate involved in the production and trading of chemicals, fertilizers, and oil exploration and production, has purchased its first shipment of crude oil.
“Matrix” signs a partnership agreement with “Engecon NV” in the field of ammonia
Matrix Service has signed a partnership agreement with Ingecon NV; To work together to create infrastructure specialized in green ammonia on the European continent.
Arabian Drilling Company achieves record profits supported by its new marine fleet
Arabian Drilling Company, listed on the main Saudi stock market “Tadawul,” achieved an exceptional achievement by achieving record net profits amounting to 605 million riyals in 2023.
The Emirati “ADNOC” exports liquefied natural gas to the German “SEVI” for 15 years
The UAE company ADNOC signed an agreement with the main terms between it and the German company Sivvi to transport liquefied natural gas from a facility in the Ruwais area in Abu Dhabi to Germany, starting in 2028 and for a period of 15 years.
“Total Energy” reviews its contracts for solar energy generation
The French company Total Energy issued statistics on the number of contracts concluded by the company regarding solar energy
After the end of their lifespan, two companies cooperate to recycle solar panels
Iberdrola and FCC Ampeto have collaborated; To fully recycle solar panels 100% after the end of their life.
“ExxonMobil” announces a huge oil discovery off “Guyana”
ExxonMobil announced a huge oil discovery in the waters off the coast of Guyana, a country located in South America. This discovery, which was called “Bluefin”, is considered a new oil treasure.
Shent Sustainable Energy Company chooses Dubai as its regional headquarters
Shent Sustainable Energy Company announced the establishment of its regional headquarters in Dubai, in line with its expansion strategy in the Middle East and Africa.
“Kuwait Petroleum” buys 50% of the Italian “Ecofox” to manufacture organic fuels
Kuwait Petroleum International Company, Italy branch, announced the signing of an agreement to purchase a 50% stake in the Italian company “Ecofox”, which specializes in manufacturing organic fuels.
A partnership between “Framatom” and “Rosatom” to supply nuclear fuel
The French company "Framatom" announced that it had contracted with the Russian company "Rosatom" to provide it with the necessary technologies for the nuclear industry needed to operate nuclear power plants in a number of European countries.
German energy company RWE's profits are expected to decline in 2024
The German energy company RWE announced that it expects its profits to decline by 30% in 2024, after the decline in global energy prices, in addition to its expectation of a decline in profits for the trading division.
A German company invests 42 billion euros in energy infrastructure in Europe
The German company "EON" announced that it will make huge investments in the field of clean energy and green transformation in an amount that may reach 42 billion euros.
Larsen & Toubro wins the contract to implement a major pipeline project
Larsen & Toubro (L&T), an Indian engineering and contracting company, announced that it has been awarded a major contract to implement an onshore gas pipeline project in the Middle East.
The agency is interested in studies of energy security, and its political and geopolitical effects, as well as the effects of energy security on stability in the system and international peace.