ADNOC Distribution launches first service stations in Egypt as it delivers on international growth strategy
ADNOC Distribution (ADX: ADNOCDIST), the UAE’s largest fuel and convenience retailer, today announced the inauguration of three ADNOC service stations in Egypt, strategically located in key areas across Greater Cairo to offer a full range of vehicle services to the local communities. The Company plans to open a further six ADNOC service stations nationwide by […]
UAE and Egypt advance development of Africa’s biggest wind farm
Masdar, one of the world’s leading clean energy companies, along with Infinity Power, Africa’s largest renewable energy developer, and Hassan Allam Utilities, a sustainable infrastructure focused investment platform, have signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to build a 10 GW capacity onshore wind farm in Egypt, set to […]
Infinity Power Finalizes Acquisition of Lekela Power in Africa’s Biggest Renewable Energy Deal
Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform. Infinity Power, a joint venture between Egypt’s Infinity and UAE’s Masdar, announced today it has completed the acquisition of the entire shareholding of Lekela Power. The transaction makes Infinity Power the largest renewable energy company on the African continent. Infinity’s key stakeholders include Africa […]
Egypt inks agreement with UAE’s Rega Energy to produce biofuel
Egypt to partner with Emirati company to produce biofuels: State-owned Egyptian Petrochemicals Holding Company (ECHEM) signed an agreement with the UAE’s Rega Energy to produce algae oil, the Oil Ministry announced in a statement yesterday, without disclosing the details of the agreement. Algae oil is a feedstock for bio-jet fuel and green naphtha, which can be used to make environmentally-friendly […]
Egypt and UAE to set up JV for manufacturing dual-fuel trucks
Egypt, UAE to jointly assemble dual-fuel trucks: A joint venture between an Emirati industrial company and the Egyptian military will be set up to locally assemble pickup trucks equipped with dual-fuel engines capable of running on natural gas, the cabinet said in a statement on Monday. The Military Production Ministry will produce the vehicles with M Glory […]
Mubadala Petroleum to buy Delek’s 22% share in Tamar offshore gas field
Israel’s Delek moves to sell stake in Tamar to UAE’s Mubadala; One of the Israeli natgas fields Egypt imports from could be getting a new shareholder: Israel’s Tamar offshore field, which supplies Egypt with natural gas under a 2018 agreement, could be getting a new shareholder after Delek Drilling, one of the field’s owners, signed […]
Fugro opens new Remote Operations Center in Abu Dhabi
The center is delivering remote and autonomous solutions to clients in the Middle East and India region. Fugro has opened a new remote operations center (ROC) in Abu Dhabi. The company now has eight ROCs operating across all four regions. By combining the ROC’s capabilities with its new uncrewed surface vessel operations, Fugro’s teams can […]
Dana Gas to demerge its Upstream and Midstream businesses
Shareholders of Dana Gas, the Middle East’s largest regional private sector natural gas company, at the Annual General Meeting gave approval for the demerger of the Company’s Upstream and Midstream businesses. Shareholders also approved the Board of Director’s recommendation to distribute an AED 5.5 fils per cash dividend for the financial year ended 31 December […]
Infinity, Masdar to invest $750 million in clean energy in Egypt and Africa
Infinity Energy and the UAE’s Masdar are planning to invest USD 750 million in clean and renewable energy in Egypt and other African markets through their new joint venture, Infinity Power, Al Mal reports, citing sources in the know. Infinity Power, which was set up as an equal partnership in January, aims to acquire assets […]
UAE’s Dana Gas delays its decision on Egypt assets sale due to market turmoil
Dana Gas delays its decision on Egypt asset sale on covid fears: Dana Gas has postponed its decision on whether it will sell its Egypt assets because of the global covid-induced market turmoil, Reuters reports, citing two unnamed sources close to the talks. Plunging oil prices probably haven’t helped matters. The Emirati energy company is […]
