UAE | Egypt Oil & Gas - Part 40
Abu Dhabi’s ADNOC Cuts 5,000 Jobs
Abu Dhabi’s state-owned National Oil Co, ADNOC, plans to cut 5,000 jobs by the end of the year, and 2,000 of the lay-offs have already been carried out, Reuters reported. ADNOC, which has roughly 55,000 staff, i...
Abu Dhabi’s Taqa Posts Q1 Loss Hurt by Low Oil Prices
Abu Dhabi National Energy (TAQA), the state-owned oil explorer and power supplier, reported a first-quarter net loss hurt by low oil prices. The company, majority-owned by Abu Dhabi’s government, reduced its fir...
UAE’s Masdar Completes Solar Plant in Solomon Islands
The United Arab Emirates and New Zealand inaugurated a solar power plant in Solomon Islands, developed and deployed by Masdar, Abu Dhabi’s renewable energy company and which will provide the Islands with 7% of its ele...
UAE Delays Construction of LNG Import Facility
Abu Dhabi indefinitely postponed the construction of the first onshore LNG import facility in the busy oil port of Fujairah in favor of a floating supply terminal. Bloomberg reported that the state-controlled Emirates...
UAE Allocated $4b in Support to Egypt
The United Arabic Emirates has allocated $4b to Egypt to boost country’s economy, the UAE state news agency WAM informed, reported Al Bawaba. According to previous reports by The New York Times, Sheikh Khalifa b...
Korean KEPCO Eyes New Nuclear Power Plants Deals in MENA
Korea Electric Power Corp. (KEPCO) wants to gain more contracts to build nuclear power plants in the Middle East to facilitate its goal of becoming one of the world’s top nuclear power operators, The Korea Times...
Egypt’s Maridive Signs $43m Offshore Contract in UAE
Egyptian Maridive & Oil Services SAE company announced that its offshore construction sector obtained a new contract worth $43m in the UAE, according to a statement released in early March, Daily News Egypt report...
Dana Gas Launches Zora Gas Field Production
Dana Gas has started production at the Zora gas field located in the Sharjah Western Offshore Concession, about 35km off the coasts of Sharjah and Ajman in the UAE, Oil&Gas Drilling&Production informed. Zora c...
