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Reliance signs pact to invest in Abu Dhabi petrochemical hub
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Investors swarm Adnoc s historic exchangable bond
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By Aidan Gregory
10.45 AM
Abu Dhabi National Oil Co (Adnoc) raised $1.64bn from the sale of exchangeable bonds and shares in Adnoc Distribution, its listed fuel distribution subsidiary, having attracted a “massive” amount of demand from investors, according to a source close to the deal. The transaction is the first ever combined sale of shares and equity-linked bonds in the GCC countries. The share sale consisted of 3m shares, a 3% stake in Adnoc Distribution, while the three-year exchangeable bond was sized at $1.19bn, convertible into around 7% of the share capital of
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26 May 2021 11:09 GMT Updated 26 May 2021 11:09 GMT
Two major clean ammonia projects have been announced in Abu Dhabi within a day of each other a $1bn facility powered by green hydrogen produced from a dedicated 800MW solar project, and a much larger blue ammonia plant using blue H
2 derived from fossil gas with carbon capture and storage.
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The $1bn facility would produce 200,000 tonnes of green ammonia per year at the Khalifa Industrial Zone Abu Dhabi (Kizad), a free-trade port close to the city of Abu Dhabi, and be developed a privately owned special project vehicle company called Helios Industry.
DME launches Mideast crude trading platform issacjohn@khaleejtimes.com Filed on April 5, 2021
The new service offered by DME will shed the light on the growing importance and the status of DME Oman as a strong and reliable Benchmark for the Middle East, representing consistent fair value for Sour Crude barrels to the East of Suez. Supplied photo
The Alternative Crude Ecosystem (ACE) is a bilateral trading platform that enables participants to trade multiple crude grades through the exchange
The DIFC-based Dubai Mercantile Exchange announced on Monday the launch of a new platform to trade multiple Middle East crude grades priced against DME’s Oman crude futures.
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