Browsing: Energy

Petrol and diesel costs witnessed a significant decline throughout the nation in November, following a hike in October. December 2023, E-Plus 91 was priced at AED 3.13 per litre in November 2022, whereas diesel was set at AED 4.01 per litre. Both are now considerably cheaper, at AED 2.85 per litre and AED 3.42 per litre, respectively. Special 95 and Super 98 are also more economical than in November of the previous year.

Agthia Group PJSC, a prominent food and beverage company in the region, has taken a significant stride in reducing its carbon footprint. The group’s solar energy initiative involves setting up solar power plants at the production facilities of Al Ain Water and Al Foah, two key subsidiaries. This environmentally conscious collaboration with Yellow Door Energy, a renowned UAE-based solar developer, is formalized through the execution of a Letter of Award and the subsequent signing of a solar lease agreement, demonstrating Agthia’s commitment to sustainability.

Emirates Development Bank (EDB) has pledged up to AED 1.3B ($350M) to support the Energy Transition Accelerator Financing (ETAF) platform, a global climate finance initiative initiated by the International Renewable Energy Agency (IRENA). The goal of this platform is to expedite the funding of renewable energy projects, particularly in developing nations.

Dubai Future Forum is set to commence on November 27, organized by the Dubai Future Foundation (DFF) and spanning two days at the Museum of the Future. The forum’s focal points include reimagining nature, empowering future generations, the human-machine relationship, and transformations in human life.

Abu Dhabi Finance Week is set to commence on Monday at The Abu Dhabi Global Market, with a focus on “investing in the transition era” as nations intensify investments in reducing emissions and achieving net zero targets in the coming decades. Senior officials, including Abdulla Bin Touq, Minister of Economy, and Mariam Al Mheiri, Minister of Climate Change and Environment, will join executives from the business world in addressing the four-day event.

Adnoc has introduced the first “high-speed” green hydrogen pilot refuelling station in the region to trial a fleet of vehicles powered by hydrogen. The station, operated by Adnoc Distribution in Masdar City, will generate green hydrogen through an electrolyser that runs on clean grid electricity, as stated by the company on Friday.

Dubai is set to unveil the Gulf’s inaugural hydroelectric power plant in 2025, solidifying its position as a key player in regional clean energy initiatives.

Abu Dhabi Future Energy Company PJSC (Masdar), a prominent global renewable energy firm, has joined forces with Emirates Steel Arkan to initiate an inventive green hydrogen project aimed at decarbonising the challenging-to-abate steel sector in the UAE.

ADNOC Group has joined forces with Australia’s Santos to work together on carbon management and advance technology to expedite decarbonisation across the Asia-Pacific region.

The Kuwait Petroleum Corporation (KPC) reported a decrease in the price of Kuwaiti oil on Friday, falling by US$2.44 to $82.27 per barrel, as opposed to the previous day’s $84.71 per barrel. As outlined by the Kuwait News Agency (KUNA), Brent Crude and West Texas Intermediate experienced increases in the global markets, rising by $3.19 and $2.99. They settled at $80.61 per barrel and $75.89 per barrel, respectively, according to WAM.