Tag: UAE

Energy, Oil & Gas

UAE energy storage market set to reach $3.25bn by 2030: Trinasolar

The UAE’s battery energy storage market is projected to reach $3.25 billion by 2030, growing at a 41.2 per cent CAGR from 2025, according to Trinasolar, underscoring the country’s position as one of the region’s fastest-growing storage markets....

Energy, Oil & Gas

Nigeria, UAE discuss boosting power generation by 5,000MW

Nigeria is in talks with the UAE on proposals to increase its electricity generation capacity by 5,000MW with solar power among the key areas of co-operation, said a report. The two countries also explored co-operation in solar energy, financing and technical expertise. ...

Energy, Oil & Gas

UAE renewable energy capacity surges 63-fold in a decade: Al Olama

The UAE’s renewable energy capacity has increased more than 63-fold over the past decade, rising from 129 MW in 2015 to more than 8.2 GW in 2025, according to Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure....

Energy, Oil & Gas

Borouge declares $656m interim dividend for 2026

Borouge, the Abu Dhabi-based petrochemicals company, has confirmed approval of an interim dividend of $656 million, equivalent to 8.1 fils per share, following its H1 2026 performance....

Energy, Oil & Gas

ADNOC Gas records robust growth in Q2; net income hits $665m

ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company, has delivered solid results for the second quarter with a net income of $665 million, above the guidance range of $400-600 million, thus reflecting strong operational performance in a challenging operating environment. ...

Energy, Oil & Gas

Al Mazrui joins Petrofac Emirates as strategic shareholder

Petrofac has announced that Al Mazrui International has completed its investment in Petrofac HoldCo Limited, the holding company of Petrofac Emirates, becoming a strategic investor alongside the company’s existing shareholder group....

Energy, Oil & Gas

Adnoc Distribution H1 net profit jumps 59pc to $568m

Adnoc Distribution reported record financial results for the first half of 2026, posting a 59 per cent year-on-year increase in net profit to $568 million, while reported EBITDA rose 39 per cent to $786 million....

Energy, Oil & Gas

Borouge posts 23pc jump in Q2 profit, maintains dividend outlook

Borouge, an Abu Dhabi–based petrochemicals company, reported a 23 per cent quarter-on-quarter increase in net profit to $191 million in the second quarter of 2026, up from $156 million in the first quarter, supported by sales volumes of 0.9 million tonnes and stronger product pricing....

Energy, Oil & Gas

Adnoc updates crude pricing methodology

Abu Dhabi National Oil Company (Adnoc) has announced changes to the Official Selling Price (OSP) methodology for its Abu Dhabi crude grades following a routine commercial review. The new pricing mechanism will take effect on November 1, 2026....

Energy, Oil & Gas

Taqa launches $750m blue bond to fund sustainable water infrastructure

Taqa, Abu Dhabi National Energy Company, has issued a $750 million Blue Bond to support sustainable water and wastewater management projects, marking the largest Blue Bond ever issued by an integrated power and water utility and the biggest in the Europe, Middle East and Africa (EMEA) region....

Energy, Oil & Gas

Adnoc Drilling Posts $706m H1 profit, reaffirms 2026 guidance

Adnoc Drilling posted record second-quarter and first-half 2026 results, with first-half revenue rising 4 per cent to $2.46 billion and net profit increasing 2 per cent to $706 million, supported by strong operational performance and cash generation. ...

Energy, Oil & Gas

CB&I secures offshore well engineering deal in Abu Dhabi

CB&I’s Asset Solutions business has secured a well engineering services contract with Cosmo E&P Albahriya to support drilling, planning and operational activities for Offshore Block 4 in Abu Dhabi, strengthening its UAE presence. ...