September 17, 2020

FUJAIRAH, 16th September, 2020 (WAM/ S&P Platts) -- Stockpiles of oil products at the UAE’s East Coast Port of Fujairah dropped for a third consecutive week to the lowest in almost five months, led by declines in marine bunkers and power fuels.

The total stood at 23.241 million barrels as of 14th September, down 0.3 percent from a week earlier and the lowest since 20th April, according to data from the Fujairah Oil Industry Zone issued today. Heavy distillates, which covers fuels for ships and for power generation, declined 6 percent to 12.552 million barrels, the lowest since 9th March.

Fujairah"...

September 16, 2020

DUBAI, 15th September 2020 (WAM) -- H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, chaired the 61st meeting of the Council, which was organised virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council.

Ahmed Buti Al Muhairbi, Secretary-General of the Supreme Council of Energy, attended the meeting along with the board members.

The meeting discussed several topics, including the Dubai Integrated Water Resource Management Strategy and Dubai’s achievements in reducing carbon emissions in 2019. Dubai"...

September 15, 2020

ABU DHABI, 14th September, 2020 (WAM) -- Abu Dhabi National Oil Company, ADNOC, announced on Monday that it has successfully completed a placement to institutional investors of 1.25 billion shares in Abu Dhabi National Oil Company for Distribution PJSC, ADNOC Distribution, which are listed and traded on the Abu Dhabi Securities Exchange, ADX.

This represents 10 percent of ADNOC Distribution’s total share capital. With this additional 10 percent placement, valued at US$1 billion, the company’s free float will increase to 20 percent, contributing to improved liquidity of ADNOC Distribution shares.

At"...

September 14, 2020

Dubai is on track in implementing its vision to drive economic growth through reliable, clean, efficient and secure energy supply and usage, officials said.

The vision's implementation was discussed by the Dubai Supreme Council of Energy and Etihad Energy Services Company (Etihad ESCO) during an online webinar on energy sustainability in the emirate, said a Wam news agency report.

'The collaborative"...

September 10, 2020

FUJAIRAH, 9th September, 2020 (WAM / S&P Platts) -- Stockpiles of oil products at the UAE’s East Coast Port of Fujairah declined this week to a four-month low, led by the biggest drop in gasoline and other light distillates this year.

Inventories stood at 23.316 million barrels on 7th September, down 7.2 percent from a week earlier and the biggest drop since 24th March, according to data from the Fujairah Oil Industry Zone, FOIZ, today. The total was the lowest since 20th April. Light distillates tumbled 18 percent, the biggest drop since 31st December, 2019, to 6.169 million barrels, also the lowest since 20th April.

Light"...

September 10, 2020

Adnoc Onshore, a subsidiary of the Abu Dhabi National Oil Company (Adnoc), has announced the award of two Engineering, Procurement, and Construction (EPC) contracts to upgrade two Main Oil Lines (MOLs) and crude receiving facilities at the Jebel Dhanna Terminal in Abu Dhabi.

The EPC contracts have a combined value of around $245 million (Dh899.9 million) and were awarded to China Petroleum Pipeline Engineering Company - Abu Dhabi and Abu Dhabi-based Target Engineering Construction Co.

Over 50 per cent of the total award value will flow back into the UAE's economy"...

September 9, 2020

Oil demand, which took the largest hit ever recorded in the first half of 2020, is now recovering as lockdowns ease, but it could take three years until all segments of oil consumption surpass levels seen prior to the Covid-19 shock, a report said.

Demand contracted 16 million barrels per day (b/d) year-n-year (YoY) in 2Q20 on IEA estimates, five-fold the previously largest ever quarterly demand drop in 4Q2008, according to the Global Energy Weekly published by Bank of America Securities (BofAS).

For now, road traffic has almost fully recovered and global oil demand from road use is expected to be in positive year-on-year growth territory by the end of this year. Air travel, however, has only"...

September 9, 2020

ABU DHABI, 8th September, 2020 (WAM) -- The Abu Dhabi energy sector plays a pivotal role in driving the government’s smart transformation with an integrated plan to digitise all services it provides to customers, making them accessible from authorised digital platforms across the emirate.

The energy sector boasts a solid digital infrastructure that enabled it to transfer most services to digital platforms, as part of plans to expedite transactions and provide water, electricity, and licensing services, among others, in accordance with the highest global standards of quality and efficiency.

In"...

September 8, 2020

DUBAI, 7th September, 2020 (WAM) -- Dubai Electricity and Water Authority (DEWA) has started receiving registration requests from exhibitors, companies and visitors for the 22nd Water, Energy, Technology, and Environment Exhibition (WETEX) and the 5th Dubai Solar Show (DSS). DEWA is organising WETEX and DSS this year virtually online. It provides a one-of-a-kind opportunity to reach more visitors worldwide.

The 3D WETEX and DSS are the first of their kind in the Middle East and North Africa, and will provide a new experience for exhibitors and visitors from around the world. They will enable exhibitors to display their products innovatively"...

September 7, 2020

DUBAI, 6th September, 2020 (WAM) -- Under the patronage of the UAE Ministry of Energy and Infrastructure, Breakbulk Middle East, BBME, has announced that it will return to Dubai for the third consecutive year. This time, BBME 2021 will take place from 9th to 10th February 2021. DP World, UAE Region, the leading trade enabler, will once again serve as the event’s Host Port. Breakbulk Middle East has now been organised for six consecutive years, achieving a consistent year-on-year growth.

The event’s 2020 edition witnessed attendance of Arab transport ministers and government officials from Syria, Sudan, Egypt, Kuwait and Saudi Arabia,"...