Abu Dhabi News


UAE's Jaber Urges Pre-COP28 Summit to Align on Fossil Fuel, Renewables Language

Oct 30, 2023

The United Arab Emirates President of COP28 said on Monday he was aware countries had strong views about including language on fossil fuels and renewables in the negotiated text of the UN climate summit but that common ground must be found.'I…

Masdar to Buy Stake in Iberdrola's Largest Offshore Wind Project in Scotland

Oct 24, 2023

Abu Dhabi's Masdar is set to buy a 49% stake in Spanish utility Iberdrola's largest offshore wind project off Scotland's coast, known as East Anglia 3, Spanish newspaper Cinco Dias reported on Tuesday, citing unidentified market sources.The acquisition will be worth around 2 billion euros ($2…

Mubadala, Inpex Among Suitors for Malaysia's SapuraOMV in $1.2-bln Deal -Sources

Oct 20, 2023

Abu Dhabi state fund Mubadala Investment and Japanese oil and gas explorer Inpex are among firms competing to acquire SapuraOMV in a deal expected to be worth about $1.2 billion, according to two sources with direct knowledge.The sale of the…

BP Says Bid to Acquire Stake in Israel's NewMed on Track

Oct 13, 2023

BP and Abu Dhabi National Oil Co's (ADNOC) $2 billion bid to acquire a 50% stake in Israeli gas producer NewMed Energy remains on track, a BP executive has told investors.BP remained 'very optimistic' about the deal despite the escalation of…

Abu Dhabi's Oil Champion ADNOC Nets on Global Expansion

Oct 09, 2023

The United Arab Emirates is refashioning the state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximize earnings for the Gulf state…

Italy's Saipem Secures $4.1 Billion Contract for Offshore Project in UAE

Oct 05, 2023

Italy's Saipem, in consortium with Abu Dhabi's National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for an offshore construction contract related to the freshly sanctioned Hail and Ghasha Development Project in the United Arab Emirates…

Abu Dhabi's ADNOC Approves Multi-Billion-Dollar Hail and Ghasha Offshore Gas Project

Oct 05, 2023

Abu Dhabi-based oil and gas company ADNOC has reached the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project offshore Abu Dhabi.Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1…

PTTEP May Seek Extension for Myanmar Gas Fields

Oct 03, 2023

Thai oil and gas giant PTT Exploration and Production (PTTEP) may extend its contracts for two gas fields in neighboring Myanmar when one ends in 2028 and the other in about 20 years, its chief executive said on Monday.PTTEP also bid for two…

Panel Reviewing BP, Adnoc Offer for Israel's NewMed Seeks Higher Price

Oct 02, 2023

A panel reviewing a $2 billion offer by Abu Dhabi's national oil company and BP to acquire a 50% stake in Israeli gas producer NewMed has recommended raising the asking price by over 10%, casting doubt over the deal, sources said.The proposed…

Petrobras Walks Back Four Divestment Processes

Sep 04, 2023

Brazilian state-run oil company Petrobras said on Monday it has decided to halt some key asset sales after concluding a broad revision of divestment processes, which were launched during the country's previous administration.The oil giant said…

Abu Dhabi's ADNOC Gas Signs 5-yr LNG Supply Deal with Japex

Aug 17, 2023

Abu Dhabi's ADNOC Gas said on Thursday it had signed a five-year deal to supply liquefied natural gas (LNG) to Japan Petroleum Exploration Co (Japex). The deal is valued at between $450 million to $550 million, ADNOC Gas said, without providing LNG volumes or timing for the shipments start…

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