Adipec 2023 comes to an end on Thursday and in line with the global focus on climate action ahead of Cop28 in the UAE this year, the Middle East’s largest energy event highlighted oil and gas companies’ efforts to reduce carbon emissions as well as the latest technology transforming the sector.
The event drew more than 2,200 exhibitors and featured high-profile speakers, including energy ministers and chief executives of major oil and gas companies.
With the UN climate summit only weeks away, this year’s Adipec set the stage of what is expected to be a more inclusive and equitable Cop.
We take a look at some of the key takeaways from the event.
Oil and gas companies edge closer to climate action
For years, fossil fuel producers have not been at the table for climate debates and discussions.
But that is expected to change at this year’s Cop28 amid the growing recognition that investment in all forms of energy is necessary to meet global challenges.
At Adipec, Cop28 President-designate Dr Sultan Al Jaber said more than 20 oil and gas companies had “positively answered” the call for climate action, and that no other industry could manage the "complexity, depth of knowledge, capital, technology and scale that is needed for the task at hand".
TotalEnergies chief Patrick Pouyanne said: “We are scapegoats for climate change, we are scapegoats for the [oil] price … but [in] the end our job is to continue to provide affordable and available energy to society."
Encouraging number of technology agreements
A large number of deals signed at this year’s Adipec were focused on technology as companies look to boost efficiency and lower emissions.
Adnoc awarded a contract valued at more than $400 million to US oilfield technology company Baker Hughes for the supply of all-electric compression systems for its liquefied natural gas project in Ruwais.
The Abu Dhabi-based energy company and Occidental Petroleum also signed an agreement to undertake a joint preliminary engineering study to build the first megaton-scale direct air capture plant outside the US.
Meanwhile, Adnoc Gas awarded a $615 million contract to oil services company Petrofac to build one of the largest carbon capture projects in the Mena region.
Clean energy push
Clean energy adoption has been gathering pace in the Emirates and this was demonstrated through a UAE-made electric vehicle showcased at Adipec.
The Rabdan One, a five-seater SUV, featured prominently at the Ministry of Industry and Advanced Technology’s booth.
Abu Dhabi clean energy company Masdar has also continued its investment in global renewable energy projects.
MW Energy, a venture between Masdar and W Solar Investment, signed an initial agreement with Tajikistan to explore clean energy projects, marking its entry into the Central Asian nation.
Masdar and US aerospace major Boeing have also teamed up to help advance the sustainable aviation fuel (SAF) industry in the Emirates and beyond.
Undersupplied market
Energy executives once again used the Adipec platform to emphasise the need for investment in the oil and gas sector, in which spending has reached record low levels.
Opec secretary general Haitham Al Ghais warned underinvestment posed a severe risk to energy security.
The oil and gas industry will require $14 trillion, or $600 billion a year, in investment from now until 2045 to ensure energy security, he said.
“Everybody thinks [it] is just investing in producing oil, but you also have to see the whole value chain,” Mr Al Ghais said.
Suhail Al Mazrouei, Minister of Energy and Infrastructure, added concerns over an undersupplied market in the long term, not the short term.
He said Adnoc's plan to step up production to 5 million barrels per day by 2027 "may not be enough" to meet growing oil and gas demand across the globe.
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
UAE currency: the story behind the money in your pockets
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
The five pillars of Islam
Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
SPECS
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Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
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England Test squad
Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
