Tag: ADNOC
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ADNOC Logistics and Services receives more than $125 billion in subscription requests
The Abu Dhabi National Oil Company (ADNOC) has received orders for more than $125 billion in the initial public offering of a stake in ADNOC Logistics and Services. Today, Thursday, May 25 (2023), ADNOC announced the completion of the price construction process and the initial public offering of the “Supply and Services” unit, the leading…
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The UAE’s ADNOC supports its fleet with “remotely managed ships”
ADNOC Logistics & Services, the shipping arm of the Abu Dhabi National Oil Company, continues to modernize its fleet with advanced technology and the latest AI systems to control autonomous driving. In this context, the shipping and marine logistics arm of the Abu Dhabi National Oil Group signed an agreement today, Thursday, April 11 (2023),…
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The UAE’s ADNOC intends to offer 15% of the shares of the “Supply and Services” company
Abu Dhabi National Oil Company “ADNOC” continues to implement its strategy aimed at diversifying sources of income by issuing minority stakes in a number of its subsidiaries. The Emirati company announced its intention to offer a minority stake representing 15% of the shares of “ADNOC Logistics and Services”, the leading company in the field of…
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The UAE’s ADNOC completes the acquisition of half of Total stations in Egypt
The Emirati company, ADNOC, has completed the procedures for acquiring half of the Total Energy stations in Egypt, as part of its plan to expand regionally. ADNOC Distribution – the arm of the Abu Dhabi National Oil Company in fuel trading and distribution – announced today, Wednesday, February 15, that it had completed its acquisition…
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ADNOC Drilling profits rise 33% in 2022
The UAE’s ADNOC Drilling Company recorded the highest quarterly revenues during the fourth quarter of 2022, after adding new drilling rigs to the company’s fleet and starting operations. Today, Monday, February 13, the Emirati company announced its financial results for the fourth quarter and the year ending on December 31, 2022. ADNOC Drilling achieved an…
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ADNOC Distribution’s profits will rise to $750 million in 2022
ADNOC Distribution achieved strong business results during the past year (2022), supported by the high demand for fuel and its new projects. Today, Thursday, February 9, the Emirati company announced that it recorded strong profits during 2022; Its earnings before interest, tax, depreciation and amortization increased by 15% on an annual basis, recording 3.52 billion…
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ADNOC supports “Make in the UAE” with 23 agreements, with investments of $4.6 billion
The Abu Dhabi National Oil Company (ADNOC) has signed agreements with 23 companies, with investments amounting to 17 billion dirhams ($4.63 billion) as part of its strategy to support local manufacturing in the UAE. The agreements signed with a number of local and international companies come as part of investments worth AED 70 billion ($19…
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Profits of “marine dredging” rise 30% by supporting its operations in the fields of ADNOC and Aramco
The UAE Marine Dredging Company achieved strong business results during the past year (2022), supported by the expansion of its operations and projects in a number of oil and gas fields in the region, led by Saudi Aramco and UAE ADNOC projects. The Emirati group, which is active in providing oil and gas field services,…
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UAE’s ADNOC Distribution relies on solar energy and biofuels to reduce emissions
The UAE company, ADNOC Distribution, relies on biofuel and operates fuel stations with solar energy, as part of its plan to reduce its emissions by 25% by 2030. And the Emirati company announced today, Friday, January 20, 2023, by focusing on the sustainability of its daily operations, to enhance its business and future competitiveness and…
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The UAE’s ADNOC begins developing the world’s first well for carbon injection and sequestration in groundwater
The Emirati company, ADNOC, has begun implementing the first project of its kind in the world to inject and capture carbon dioxide (carbon dioxide) in groundwater brine. The project is part of Abu Dhabi National Oil Company’s $15 billion plan to reduce emissions from its operations, and supports its goal of reducing emissions intensity by…
