The Abu Dhabi National Oil Company (ADNOC) plans to decrease its greenhouse gas (GHG) emissions intensity by 25% by 2030, to bolster its position as one of the least carbon-intensive oil and gas companies in the world.
UAE’s oil and gas company ADNOC is on track to increase its crude oil production capacity to 4 million barrels per day by the end of this year. In fact, Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO highlighted the impact of global economic trends on energy demand and outlined the UAE and ADNOC’s response to the fast-evolving energy landscape, saying that “This economic outlook means both the short and long-term demand for energy remains robust. Over the next two decades, we will see growth of at least 25% in energy demand. This is a rate of increase that no single source can satisfy and presents the key challenge of how to produce more energy with fewer emissions.”
Khalifa Port announced it will invest 3.8 billion dirham ($1 billion) increasing its capacity by 50% by the end of 2020, aiming to meet clients’ demand and expanding the port, according to Reuters. Khalifa port began operations in 2012, and is located between Abu Dhabi city and the financial centre of Dubai where the region’s largest transshipment port Jebeli Ali is located.
A European-led mission for protection of Gulf waters expected to operate soon will be hosted by a French naval base in UAE, France’s defense minister said on Sunday. The decision came in the wake of the subsequent tanker attacks earlier this year in the region which triggered global diplomatic tension.
Skuld Club informed about an advice by Lloyd’s Register, warning about a number of fuel oil samples from deliveries in Fujairah which have been found to have an elevated Total Acid Number (TAN). The tested TAN values were all significantly over the average for the port
The first IMO 2020 compliant bunker load of low sulphur fuel oil (LSFO) was delivered by oil trader and bunker provider GP Global at Fujairah port in the United Arab Emirates. The 6,000-tonne bunker barge was delivered at the port of Fujairah and is expected to serve this as well as other ports nearby, further helping the UAE to meet the IMO regulation.
The United Arab Emirates joined the United States-led commission aiming to protect marine safety, navigation and worldwide trade. The Director of the International Security Cooperation Department at the Ministry of Foreign Affairs and International Cooperation noted that this alliance adds to worldwide as well as local attempts to prevent threats to marine navigation and global trade, contributing to the conservation of international tranquility and safety and thus establishing the flow of energy supplies to the global economy.
The Abu Dhabi Global Market Arbitration Centre (ADGMAC) and Emirates Maritime Arbitration Centre (EMAC) have signed a Memorandum of Understanding (MoU) to advance arbitration and mediation services for the United Arab Emirates (UAE) maritime industry.
Reuters reports that maritime security talks between Iran and the UAE were to begin on Tuesday, July 30, in light of the tension in the Strait of Hormuz, despite the fact that a Gulf official commented on the discussions as routine and technical.
The Abu Dhabi National Oil Company (ADNOC) has signed a partnership framework agreement and a JV agreement worth up to $12 billion with China’s Wanhua Chemical Group. The deal foresees collaboration in the downstream sector, according to ADNOC.
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