ADNOC’s Net Profit Goes up 2.3% in 9 Months

• Thursday, 31st October 2019
• by Editorial Team

ADNOC Distribution, the UAE’s largest fuel and convenience retailer, reported an increase of 2.3% year-on-year (YoY) in net profit during the first nine months of 2019, to stand at AED 1.72 billion. According to the f...

ADNOC Wins “New Silk Road CEO of the Year Award”

• Thursday, 3rd October 2019
• by Mai El Ghandour

The United Arab of Emirates (UAE) Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC) has won “New Silk Road CEO of the Year Award” for supporting the continuous supply of energy across the contine...

ADNOC Seeks Bond Issue

• Wednesday, 2nd October 2019
• by Mai El Ghandour

Abu Dhabi National Oil Co (ADNOC) is studying the possibility of a bond issue amid low interest rates, its CFO said on Wednesday, according to Reuters. “We will take a look. These are historically low interest (rates)...

ADNOC Offshore, Weatherford Ink $220 MM Deal

• Thursday, 26th September 2019
• by Editorial Team

Weatherford International announced that it has signed a $220 million contract with ADNOC Offshore, a subsidiary of the Abu Dhabi National Oil Company (ADNOC). The three-year deal will see Weatherford provide directio...

ADNOC Drills Umm Lulu’s First Offshore Well

• Tuesday, 24th September 2019
• by Editorial Team

ADNOC Drilling has completed the first integrated drilling services well in the Umm Lulu offshore oilfield in Abu Dhabi, Arabian Business reported. “This milestone firmly positions ADNOC Drilling as a leading provider...

UAE’s Al-Gharbia Pipe Begins Production

• Tuesday, 24th September 2019
• by Editorial Team

Al Gharbia Pipe Company has begun commercial production of large diameter sour grade steel pipes for uses in the construction and energy industries, the National reported. The UAE-based company is a joint venture (JV)...

Seven Countries Support Libya’s NOC

• Monday, 23rd September 2019
• by Editorial Team

Seven countries have voiced their official support for the Libyan National Oil Corporation (NOC) in a joint statement, Reuters reported. The support for NOC comes as Libya’s legitimate authority of the country’s energ...

Dubai to Cut Energy Demand 30% by 2030

• Monday, 23rd September 2019
• by Editorial Team

Dubai aims at reducing its electricity demand by 30% by 2030, according to the Emirate’s Supreme Council of Energy (SCE). In its latest meeting, SCE discussed the progress of the central district cooling plans, and th...

Dana Gas Repurchases 3.6 MM Shares

• Monday, 23rd September 2019
• by Editorial Team

Dana Gas has bought back around 3.6 million of the company’s shares on September 22, at an average price of about AED 0.95 per share, Mubasher reported. The transactions came in line with the company’s buy-back progra...

SNC-Lavalin Awarded $39.2 MM Contract by Al Yasat Petroleum

• Wednesday, 18th September 2019
• by Editorial Team

SNC-Lavalin announced that it has been awarded three-year general engineering, project management, and technical support services contract by Al Yasat Petroleum. The contract, valued at around $39.2 million, could be ...