ADNOC LNG, a subsidiary of ADNOC, and energy trader Vitol have signed a six-year supply agreement for the sale of 1.8 million tons per annum (mtpa) of post-2022 LNG volumes. The Abu Dhabi-based ADNOC LNG also signed a two-year supply agreement with French oil and gas giant Total for 0.75 mtpa of 2021 and 2022 […]
UK-based insurance company Charles Taylor has agreed to acquire Lab Cosulich Consultants (LCC) and CMC Marine (together, Cosulich Marine Consultants Group) in a move to grow its marine capabilities in Europe, Middle East, and Asia. The financial terms of the deal were not disclosed. Established in 1952, the Italy-based Lab Cosulich Consultants serves the marine […]
Milkio Foods, a New Zealand-based dairy products supplier, has formally rolled out its Milkio organic grass-fed ghee in Dubai, UAE. The organic ghee will be sold by UAE-based fruit and vegetable wholesaler Kibsons International. Milkio Organic ghee will be highlighted as a premium organic ghee Dubai in the retailer’s dairy product section, said Milkio Foods. […]
Abu Dhabi National Oil Company (ADNOC) has signed a $2.1 billion deal to offload a stake of 20% in ADNOC Gas Pipelines HoldCo to UAE state-owned investors Abu Dhabi Pension Fund (ADPF) and ADQ. The deal enables the entry of ADPF and ADQ into ADNOC Gas Pipeline Assets, a natural gas pipeline partnership in the […]
Nawah Energy Company, a joint venture between the Emirates Nuclear Energy Corporation (ENEC) and Korea Electric Power Corporation (KEPCO), has commissioned Unit 1 of the 5.6GW Barakah Nuclear Energy Plant in the Al Dhafrah Region in Abu Dhabi, UAE. The Barakah nuclear power project, which has an estimated construction cost of $24.4 billion, will have […]
Sinopharm COVID-19 inactivated vaccine candidate : Chinese vaccine manufacturer Sinopharm CNBG has launched a phase 3 trial of its COVID-19 inactivated vaccine candidate, in collaboration with G42 Healthcare, in the UAE. The vaccine developer had found success with the phase 1 and phase 2 clinical trials of the coronavirus vaccine candidate in China. Its vaccine […]
Dubai-based World Investments will be investing AUD433 million ($274.94 million) in Australian neobank Xinja Bank. The financing will be done over a period of 24 months, with an initial investment of AUD160 million ($101.6 million). In September 2019, the fully digital and mobile bank was granted a full banking licence. Following which, it launched its […]
Huntsman has opened its new polyurethanes system house in Dubai, the United Arab Emirates, to strengthen its downstream capabilities in the Middle East and North Africa. The new polyurethanes system facility located within the Jebel Ali Free Trade Zone (JAFZA) will increase the capacity of the US chemical manufacturing company to manufacture polyurethane systems and […]
US oil and gas company Occidental Petroleum has been granted exploration rights to Abu Dhabi’s Onshore Block 3 from the Abu Dhabi National Oil Company (ADNOC) for a participation fee of AED893 million ($244 million). The concession agreement signed by the two parties will be valid for 35 years. Onshore Block 3 is an onshore […]
A consortium made up of GE, Sumitomo, Shikoku Electric Power and Sharjah Asset Management (SAM) have signed an agreement to develop, build and operate what will be the first independent combined cycle power plant in Sharjah, UAE, with a capacity of about 1,800MW. The gas-fired power plant, which will be built in Hamriyah, is targeted […]