ADNOC agrees deal with Italy's Eni company

Sunday, 5 March 2023 12:09

By Reuters

Italian oil and gas group Eni has announced it will cooperate with Abu Dhabi National Oil Co (ADNOC) on energy transition projects.

State-controlled Eni said that together with ADNOC it would explore opportunities in renewable energy, blue and green hydrogen and carbon dioxide capture and storage.

The two companies will also work on reducing greenhouse gas and methane gas emissions, as well as routine gas flaring.

Italy on Saturday signed a declaration of intent with UAE climate envoy and designated president of the COP28 climate summit Sultan Ahmed Al Jaber, who last month pledged to lay out an inclusive and innovative roadmap to tackle global warming.

"We found our partners extremely open and attentive to the priorities on our agenda," Meloni said.

Meloni said the UAE was particularly interested in Italy's energy policy in Africa, which was discussed on Saturday alongside topics such as the stabilisation of Libya and financial situation in Tunisia, which have an impact on migration flows.

We’ll be working with @eni to explore new opportunities in decarbonization, new energies and low-carbon solutions, as we continue to collaborate with partners across the industry to advance the energy transition.#EnergyForLife pic.twitter.com/s3go5t3kDT
— ADNOC Group (@ADNOCGroup) March 4, 2023

More from Business News

UK's Jaguar Land Rover to halt US shipments over tariffs

Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.
US starts collecting Trump's new 10% tariff

U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).