ADNOC to Explore Clean Energy Expansion

FILE PHOTO: Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, speaks the opening ceremony of the World Future Energy Summit in Abu Dhabi, United Arab Emirates January 13, 2020. WAM/Handout via REUTERS.
FILE PHOTO: Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, speaks the opening ceremony of the World Future Energy Summit in Abu Dhabi, United Arab Emirates January 13, 2020. WAM/Handout via REUTERS.
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ADNOC to Explore Clean Energy Expansion

FILE PHOTO: Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, speaks the opening ceremony of the World Future Energy Summit in Abu Dhabi, United Arab Emirates January 13, 2020. WAM/Handout via REUTERS.
FILE PHOTO: Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, speaks the opening ceremony of the World Future Energy Summit in Abu Dhabi, United Arab Emirates January 13, 2020. WAM/Handout via REUTERS.

Abu Dhabi National Oil Company (ADNOC) will look at expanding into clean energy, with investments in hydrogen an area of interest for the oil producer, chief executive officer Sultan al-Jaber said on Wednesday.

“We are pursuing hydrogen as a potential new venture as part of clean energy and clean technology strategy,” al-Jaber told the Energy Intelligence forum.

Hydrogen has long-been touted as a potential clean fuel as it only emits water vapor but it has failed to gain traction, mainly because of historically high production, transportation and storage costs.

But the oil company expects that hydrocarbons will remain at the core of its business.

“By 2030, oil and gas will remain at the heart of ADNOC’s business model,” al-Jaber said

He said that even in the most fast-pace energy transition scenarios, the world would continue to get more than half of its energy needs from oil and gas for many decades to come.

The company is also sticking to its strategy of reaching an oil production capacity of 5 million barrels per day by 2030, al-Jaber said.

He said that the oil market had “clearly tightened,” and he remained cautiously optimistic, adding that it was still important to keep a close eye on the new COVID-19 movement restrictions and their impact on economic recovery.

He also hailed the role of the Organization of the Petroleum Exporting Countries (OPEC) in balancing oil markets since the markets reached its low point in March while stressing the UAE is complying with its production quota agreed with OPEC plus.

“I must commend our partners in OPEC plus for their collective efforts to balance supply and demand during this critical period," he said.



Syria Signs $800 Million Agreement with DP World to Bolster Ports Infrastructure

An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
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Syria Signs $800 Million Agreement with DP World to Bolster Ports Infrastructure

An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)

Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.

The agreement follows on from a memorandum of understanding signed between the two sides in May.

The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones.

The signing ceremony was attended by Syrian President Ahmed al-Sharaa.

Last month, US President Donald Trump signed an executive order terminating a US sanctions program on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.

The removal of US sanctions will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.