The second annual report for the implementation of the Ras Al Khaimah Energy Efficiency and Renewables Strategy 2040 was released on the newly launched Reem website.     Ras Al Khaimah, United Arab Emirates, July 06, 2020:  Ras Al Khaimah Energy Efficiency and Renewables Strategy 2040 has completed its second year of implementation in 2019. Last week Ras Al Khaimah Municipality released the second edition of the annual report for the strategy. The report describes progress of the strategy, including achievements, new initiatives and expected developments in the coming years. Click here to download the report from the Reem website.   The annual report highlights concrete savings of 7 GWh of electricity, 109 MIG of water and 423 GWh thermal of direct fuel savings achieved in 2019. Apart from these energy ......read more

Successfully renewed three ISO certifications in Quality Management System, Environmental Management System and Occupational Health and Safety Management Systems Dubai, UAE, 06 July 2020:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced that it has successfully renewed three ISO certifications in Quality Management System (ISO 9001: 2015), Environmental Management System (ISO 14001: 2015), and Occupational Health and Safety Management Systems (OHSAS 18001: 2007), that are related to internationally recognized practices for management Systems in Quality, Environment and  Health and Safety respectively. Empower is certified for all these three International Standards since 2006, which are integrated into one platform, that adds values to ......read more

Complementary portfolios and technology strengths to ensure continuity, enhance customer value and bring growth opportunities.    Dubai, United Arab Emirates, July 01, 2020:   In accordance with the agreement signed on December 17, 20181 , Hitachi Ltd. and ABB Ltd today announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. Hitachi has an 80.1 percent stake in this new joint venture entity (which has business volume of approximately 10 billion USD2 ) and ABB holds the balance. Toshikazu Nishino, Executive Vice President of Hitachi, is the Chairman of the new entity and Claudio Facchin the CEO. The new entity is headquartered in Zurich, Switzerland, and the current management team will ensure business continuity. “Hitachi’s leading ......read more

• Dubai Startup Hub Market Access programme’s second cohort attracted 44 startup submissions, 55% of which came from outside the UAE   • Corporate members Emirates NBD, Sumitomo and Accenture team up with 9 startups offering cutting-edge solutions to existing challenges     Dubai, United Arab Emirates, July 01, 2020:    Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced the successful conclusion of the Market Access programme’s second cohort, which saw several high-potential startups joining forces with leading UAE corporates at a recent business pitching and matchmaking event.   The virtual event, held  on June 17th, 18th and 22nd, saw Market Access corporate members Emirates NBD, Sumitomo and Accenture team up with nine ......read more

Dubai, United Arab Emirates, July 01, 2020:   The dual crisis engendered by the conflict over production levels within OPEC + and the reduced demand caused by the COVID-19 pandemic have prompted a global, sector-wide downturn in the Oil and Gas (O&G) industry that has left the oil-dependent economies vulnerable in terms of fiscal revenue. Demand for oil has fallen by over 18 percent since the beginning of the year, leading to a steep decline of more than 70 percent in the price of oil. Deloitte has just released its new report, Impact of oil industry crisis on the GCC and potential responses, which explores different potential responses GCC countries can take to address the impact of the oil industry crisis on their economies. “The oil industry is facing its gravest crisis in 100 years, leading to a steep decline ......read more

Dubai, UAE, 29 June 2020:   As part of its efforts to raise awareness about the importance of adopting sustainability practices and provide environment friendly district cooling services, Emirates Central Cooling Systems Corporation (Empower) has launched a consumption rationalization campaign under the theme ’ Set your AC at 24°C Auto and Save’. The campaign will run until the end of summer and aims to encouraging its customers to rationalize the district cooling consumption during the summer season by setting the air- conditioner thermostat at 24°C, as well as using innovative and eco-friendly methods that help in reducing indoor temperature and monthly costs, and achieving significant savings in energy and resources.. Empower pointed out that the campaign targets all the customer segments across ......read more

- Dubai Chamber webinar attended by over 130 business leaders from the UAE, Mozambique and Southern Africa   - Event familiarised Dubai-based companies with competitive advantages of doing business in Mozambique and process of setting up in the African country    - Khan: Dubai-based companies that have the right level of expertise and investments to fill gaps in the Mozambican market     Dubai, United Arab Emirates, June 29, 2020:    Mozambique is on its way to becoming one of the world’s largest energy producers, and its growing oil and gas market is ripe with business opportunities that companies in Dubai can capitalise on, industry experts said during a recent Dubai Chamber webinar.   Sharing their insights, experts identified rising demand for digital solutions ......read more

New Analysis by Boston Consulting Group Reveals That the COVID-19 Crisis May Have Accelerated Peak Demand for Fossil Fuel by More Than a Decade, Causing It to Reach Its Zenith in 2019   Dubai, United Arab Emirates, June 28, 2020:   As the short-term economic fallout of the global COVID-19 pandemic becomes increasingly visible, recent research by Boston Consulting Group (BCG) suggests that the crisis may have a significant long-term impact on global energy markets. Most notably, it may have caused demand for fossil fuels to reach its peak last year. BCG’s article, titled Have We Passed Peak Demand for Fossil Fuels? explores energy scenarios through 2030. BCG’s analysis of the future energy demand and energy mix for three economic scenarios, representing V-, U-, and L-shaped recoveries, points to a high ......read more

3,339 panels covering 2,000 Sqm to result in approximate cost savings worth AED 158,000 annually Dubai, UAE, 28th June 2020:   Emirates Insolaire, a pioneer in the development and application of new solar technologies and a joint venture of Dubai Investments PJSC and Swissinso SA, Switzerland has announced the undertaking  of the installation of solar panels at the DEWA Innovation Centre project, part of Dubai's Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park), being developed as the largest single-site solar park in the world based on the independent power producer model. Registering the peak power at 225 KWp, more than 3,339 customized solar panels covering an area of 2,000 Sq.m will aid towards generating more than 360,000 KWh electricity annually, resulting in approximate cost savings of AED ......read more

By Ole Hansen, Head of Commodity Strategy Saxo Bank   Crude oil's rally to the highest levels since early March has paused with the technical outlook beginning to look more challenging. The attention has for now turned from OPEC+ and successful production cuts to concerns that a renewed spike in COVID-19 cases may slow the process towards a further recovery in global demand. On tap today we have EIA's weekly inventory report at 14:30 GMT. What is our trading focus? OILUKAUG20 – Brent Crude Oil (August) OILUSAUG20 – WTI Crude Oil (August) XOP:arcx – Oil & Gas Exploration & Production XLE:arcx – Energy Select Sector SPDR Fund (Large-cap US energy stocks) ____________________________________________________________________________________________________ Crude oil’s ......read more

Dubai, United Arab Emirates, June 25, 2020:   Cyril Abiteboul, Managing Director of the Renault DP World F1 team and Keith Pelley, CEO of the European Tour, open up over the challenges they have faced and the important decisions they have had to make in the wake of the COVID-19 pandemic, as part of a three episode mini-series produced by their partner in common, DP World. The conversation highlights the contrasting personalities of each CEO, but also shines a light on their shared approach to progressive leadership and their determination to ensure sport continues to deliver for fans safely despite coronavirus.  They explore the challenges of working with hundreds of people, across multiple geographies and discuss the huge logistical complexities of their organisations in the wake of the current pandemic. Both are ......read more

• Providing reliable power supply to Ramadi, Fallujah, Saqlawyah, Khalediyah cities and surrounding areas in Al Anbar governorate • Enabling efficient transmission and a higher utilization of Al Anbar power plant’s generated power to support demand growth     Siemens Energy and the Iraqi Ministry of Electricity have signed a contract for the Al Hamudhia substation, which will provide reliable and efficient power supply to the cities of Ramadi, Fallujah, Saqlawyah, Khalediyah and surrounding areas in Al Anbar governorate, North West of Baghdad.     Located about 20 kilometers away from Ramadi city, the turnkey 400- kilovolt (kV) Al Hamudhia substation will support greater grid connectivity and allows for a higher utilization of the Al Anbar power plant’s generated power, ......read more

Abu Dhabi, UAE. 22 June 2020:   ADNOC Distribution, the UAE’s largest fuel and convenience store retailer, has been named the No1. retail brand in the region in the Forbes Middle East Top 100 Companies 2020.  Compiled of the largest and most successful listed companies in the region, the validation comprises in-depth research and data from all stock exchanges in Arab countries, and analysis of market value, sales, assets and profits. ADNOC Distribution, ranking at number 52 overall, is one of 21 UAE companies to be listed, with GCC companies accounting for 90% of the total 100. “It is an honor to be recognized as the number one retail brand in the region, testament to the hard work we do every day to deliver convenient and accessible fuel and convenience retail to customers,” said Ahmed Al Shamsi, ......read more

Dubai, UAE, 21st June 2020 – Dubai Healthcare City (DHCC), a free economic zone set up to meet the demand for high-quality healthcare, has adopted a simple yet effective energy-conservation initiative with the help of Sharaf DG Energy. In just 30 days, the renowned Dubai-based solar energy and lighting company retrofitted DHCC’s entire parking area. The scope of the project provided a smart car parking solution across all DHCC blocks, which now manages the entire supply, installation and maintenance of high-quality LED energy saving lighting solutions. The outcome of the development has been tremendous and has significantly reduced DHCC’s electricity consumption by 1,237,745 kWh (equivalent to AED 550,000 annual savings). Sanjay Dabur, Vice-President of Strategic Business, Sharaf DG, said: “We are ......read more

● Co-developed with AVEVA, industrial edge reference designs enable system integrators to simplify IT deployments and facilitate their customers’ digital transformations ● Schneider Electric Exchange digital community connects IT solution providers and system integrators to expand their business  ● New tools, training, and community programs open easy-to-implement business models for system integrators     Dubai, United Arab Emirates, June 20, 2020:    Schneider Electric, the leader in digital transformation of energy management and automation, today announced the expansion of its partnerships with leading technology companies to address the convergence of IT and OT. Bringing together system integrators with IT solution providers to build integrated industrial edge computing ......read more

Dubai, UAE: June 16, 2020 - Trina Solar Co., Ltd ("Trina Solar" or the "Company") has announced that it has signed an agreement with the Yemeni photovoltaic firm Al Raebi for Trading Co. to be its authorized distributor in Yemen. The agreement comes as a further commitment of Trina Solar’s expansion plans and towards increasing its footprint in the Middle East & Africa region. Al-Rabei’s appointment as authorized distributor will ensure that Trina Solar’s quality service and products will be available by supplying tier 1 PV modules with high reliability and solid performance to consumers across the Yemeni market. Jimenez Antonio, head of the Middle East and Africa markets at Trina Solar, said: “We are excited to work with Al-Rabei as our authorized distributor in Yemen. We have a very ......read more

Global Energy Weekly: Learning to LUV oil BofA Global Research Media Relations   Dubai, United Arab Emirates, June 14, 2020:   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media Relations. Global Energy Weekly  Global Energy Weekly: Learning to LUV oil   •  Gasoline demand ......read more

By Ole Hansen, Head of Commodity Strategy at Saxo Bank   Dubai, United Arab Emirates, June 11, 2020:   Crude oil has run into profit taking following the OPEC+ expected and already priced in decision to extend production cuts to end July. Multiple challenges to oil's continued recovery exists and with that in mind we suspect the expected consolidation phase has started. Later today we have two risk events on tap with the EIA's Weekly Petroleum Status Report being followed by the FOMC rate decision. What is our trading focus? OILUKAUG20 – Brent Crude Oil (August) OILUSJUL20 – WTI Crude Oil (July) XOP:arcx – Oil & Gas Exploration & Production XLE:arcx – Energy Select Sector SPDR Fund (Large-cap US energy stocks) Crude oil’s behavior following the agreement by ......read more

Dubai, United Arab Emirates, June 11, 2020:   Trina Solar Co Ltd today became the first Chinese PV product, PV system and smart energy company to trade on the Shanghai Stock Exchange Science and Technology Innovation Board (Trina Solar; code: 688599), also known as the STAR Market.   At the listing ceremony, Gao Jifan, Chairman and General Manager of Trina Solar, struck the gong, witnessed by assembled VIP guests.    Gao said: “Global warming and environmental pollution are growing problems, making energy transformation an extremely urgent issue. This will significantly impact our ability to leave a beautiful living environment to future generations, to find a balance among environmental, economic, and social benefits, and to achieve development that is comprehensive, balanced, and sustainable. Inspired ......read more

● Energy management increasingly important as strategic lever in highly volatile, disruptive environment ● New innovations in technology simplify data management for complex energy management projects  ● Tackling climate change becomes a critical part of energy investments as organizations pursue long-term sustainability   Dubai, United Arab Emirates, 7 June 2020:   Schneider Electric today released its 2020 Corporate Energy & Sustainability Progress Report. The report, the third in an annual series, examines how organizations are addressing the opportunities and challenges presented by a changing energy landscape focused on enterprise energy management and decarbonization. The report explores how energy management has become a critical part of an integrated sustainability strategy, ......read more

• New facility will form part of Honeywell’s alignment to Saudi Vision 2030 and localization commitments, supporting economic diversification • Honeywell becomes the first international company to produce industrial gas detectors in Saudi Arabia     June 02, 2020 - Honeywell (NYSE: HON), a global technology leader, has today announced it will open a new facility for the production of gas detection devices in Saudi Arabia. The factory underscores Honeywell’s commitment to the In-Kingdom Total Value Add (IKTVA) program.   Established to accelerate Saudization, IKTVA’s aim is to achieve 70% localization of production and jobs by 2021 and act as a key enabler of Saudi Vision 2030. The new “Made in the Kingdom” Honeywell factory will support IKTVA’s localization ......read more

Dubai, United Arab Emirates, May 31, 2020:   Trina Solar Co., Ltd ("Trina Solar" or the "Company"), the world's leading PV and smart energy total solution provider, has been recognized as a "Top Performer" for outstanding product reliability and performance among global PV module manufacturers by PV Evolution Labs (PVEL), the leading independent test laboratory for the global downstream solar industry.  The company is one of only two PV module manufacturers with worldwide reach to gain the recognition for the sixth consecutive time since the Top Performer designation was established. The recognition is based on the results of the Product Qualification Program (PQP), presented in the 2020 PV Module Reliability Scorecard issued by PVEL, following factory inspections that took place ......read more

-- Demand Surges for Advanced Class Gas Turbines --    Dubai, United Arab Emirates, May 20, 2020:   Mitsubishi Hitachi Power Systems (MHPS) ranks first in market share by megawatts for gas turbine orders in 2020 according to data obtained from McCoy Power Reports. First quarter global orders of 2,638 MW brought MHPS’ market share to 28.5 percent globally. This increase in gas turbine market share was largely responsible for worldwide order booking increasing 19.7 percent during MHPS’ fiscal year ending March 31, 2020. “The extremely competitive global gas turbine market has moved in our direction with a clear preference for our JAC gas turbines, which are more reliable than competitor’s gas turbines while providing record-setting fuel efficiency and output,” said Ken Kawai, ......read more

Dubai, United Arab Emirates, May 13, 2020:   Robert Minter, Investment Strategist at Aberdeen Standard Investments, explains the impact of the pandemic on the O&G sector worldwide and offers some predictions for the next 12 months.   Some stress had already begun to appear in the global oil markets at the turn of the year. The US and Europe were in the middle  of an unusually warm  winter, which reduced  energy demand. In the US, investors were prioritising capital discipline over production increases and had started raising interest rates for lower credit quality oil producers. But little evidence existed for the impending shock to demand that would dwarf all others.   The first cases of coronavirus occurred in early December but were not in sufficient scale to be noticed until six weeks later ......read more

 H.E. Mohamed Al Hammadi, CEO of ENEC, sat down via video conference with Frederick Kempe, President and CEO of the Atlantic Council, for a virtual fireside chat on COVID-19 and the future of the decarbonized global power system  H.E. Al Hammadi: ”Over 700 people are working on the Barakah plant project to meet the timeline”     Abu Dhabi, UAE – 09 May 2020:   His Excellency Mohamed Al Hammadi, Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC), recently sat down via video conference with Frederick Kempe, President and Chief Executive Officer of the Atlantic Council Global Energy Center, during a virtual fireside chat on the progress being made at the Barakah Nuclear Energy Plant, the impact of the COVID-19 pandemic on energy systems, and the ......read more