oil and gas

April 23, 2019

ABU DHABI, 22nd April, 2019 (WAM) -- The first-ever shipment of UAE-produced calcined coke has begun its maiden voyage to mainland China.

Some 10,500 tons of calcined coke were loaded by ADNOC Refining, a subsidiary of the Abu Dhabi National Oil Company, ADNOC, onto the M/V Lucky Ocho, a vessel chartered by ADNOC Logistics and Services, to be delivered in Yantai, China by the end of April 2019.

The first shipment of this high-value product represents the latest milestone in ADNOC’s effort to reduce production of high-sulfur fuel oil (or ‘residue oil’)"...

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April 23, 2019

DUBAI, 22nd April, 2019 (WAM) -- The 23rd Annual General Meeting,AGM, of Emaar Properties PJSC today approved the distribution of AED 1.07 billion (US$ 290 million) as dividend to the shareholders, representing 15 percent of the share capital being 15 fils per share.

The meeting approved the report by the Board of Directors on the activities and financial position of the company, the Auditor’s report, and balance sheet for 2018. KPMG was appointed as the auditor for 2019.

Addressing the assembly, Mohamed Alabbar, Chairman of Emaar Properties, said: 'We are"...

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April 22, 2019

Dubai Electricity and Water Authority (Dewa) plans to generate energy savings of up Dh82 billion by 2030 after retrofitting more than 30,000 buildings in the emirate.

'If you look at the retrofitting, we noticed that the savings [are] valued between 25 to 40 per cent, so we wanted to be in the middle and calculated that as 30 per cent,” Waleed Salman, executive vice president, business development and excellent at Dewa told The National.

The announcement comes amid growing interest in energy efficiency in the UAE and across the Middle East as economies look"...

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April 21, 2019

Eni has signed an exploration and production sharing agreement with the emirate of Ras Al Khaimah, the Italian oil company's latest expansion in the Middle East.

The agreement covers Block A offshore Ras Al Khaimah, in the northern emirates.

It was signed between Eni and the emirate's RAK Petroleum Authority, Eni said in a statement on Thursday.

Block A is an area of 2,412 square kilometres. Eni will be the block's operator, with a 90 per cent participating interest, while RAK"...

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April 21, 2019

Dubai is expected to roll out an efficiency programme targeting industry by 2021, according to Etihad Esco, the Dubai-based energy efficiency company.

Known as the Super Esco for its role as an accreditor and regulator of firms engaged in the sector, Etihad Esco has been mulling industry-specific targets for the emirate, starting with its logistics sector.

What we see from experience, the most important thing for industrial facilities is solar because of large areas of roof that we have over these facilities so solar will be the most easy, quick win thing to do,”"...

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April 18, 2019

ABU DHABI, 17th April, 2019 (WAM) -- Top Chinese energy officials have underlined the importance of the 24th World Energy Congress (24th WEC) 2019, to be hosted in Abu Dhabi on September 9-12.

'The event is a valuable opportunity to accelerate cooperation between the Chinese energy firms and their international counterparts,' said Yang Kun, the Executive President of China Electricity Council, adding that the Congress will be a significant platform to enhance awareness about the Belt and Road Initiative.

The Chinese official made the statements during his meeting"...

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April 17, 2019

UAE-based oil and gas logistics firm Tristar Group has signed firm contracts for six new build oil and chemical tankers with South Korean shipbuilder Hyundai Mipo Dockyard.

The vessels will be delivered between the middle of May 2020 and the first week of January 2021.

The vessels have been ordered on the back of long-term charter contracts with oil major Shell, Tristar said in a statement.

This follows Tristar’s acquisition of six new build tankers from the same yard in 2016, also"...

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April 15, 2019

ABU DHABI, 14th April, 2019 (WAM) -- The Abu Dhabi National Oil Company, ADNOC, announced today that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund, ADRPBF.

ADRPBF will invest AED1.1 billion (US$300 million), following BlackRock and KKR who in February of this year signed the initial investment agreement to invest AED14.7 billion (US$4 billion) into the midstream pipeline assets.

To mark the occasion, a signing ceremony was held today at ADNOC Headquarters with Dr. Sultan bin Ahmad"...

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April 11, 2019

FUJAIRAH, 10th April, 2019 (WAM) -- Oil product inventories in the UAE’s Fujairah trading hub rose 7.8 per cent week on week to a record 25.088 million barrels Monday, led by swelling stockpiles of marine fuels and other heavy distillate residues, data released Wednesday by the Fujairah Oil Industry Zone, FOIZ, at the city’s port showed.

The previous record was 24.4 million barrels in July 2017, FOIZ data provided exclusively to S&P Global Platts showed.

Heavy distillates inventories jumped 18 per cent week on week to 11.747 million barrels, the highest"...

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April 10, 2019

Dubai-based fuel retailer Enoc Group has announced the launch of EnocPay, a cashless, cardless payment platform at Enoc and Eppco service stations.

The company said EnocPay enhances the customer experience by enabling them to pay with their mobile phones, without having to leave the comfort of their vehicle.

It allows users to link their vehicle identification pass (VIP) RFID account to enable top-up, pay for fuel as well pay in-store at Zoom and Pronto.

The app also allows for remote payments"...

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