Every year, Abu Dhabi hosts a large convention of oil, gas and energy companies that is attended by industry leaders, including energy ministers, decision makers and professionals from all over the world. Known as Adipec, the event, running from October 2-5, has a scale that is not easily rivalled. Business partnerships in the energy field are strengthened, ideas exchanged among leaders from various backgrounds and handshakes become a common sight as strategic collaborations are formed.
Just last year, Adipec yielded $8.2 billion in business for the 2,200 companies that were present at the conference. And one of the most significant deals to come out of it was an agreement between the UAE and the US to invest $100 billion in renewable energies and clean technologies in the UAE, US and emerging economies around the world by 2035.
The scope, agenda and networking potential for influential leaders, ministers, and chief executives of oil and gas companies at this annual platform are extensive, with an eye towards a sustainable future. This year, given the backdrop of Cop28, the focus is sharper and even more urgent. Decarbonisation is a central theme.
With less than two months to go before the UAE hosts the global climate summit, Adipec 2023 and the decisions taken over the next couple of days, become all the more consequential. This year is especially crucial also considering the focus on the needed energy transition, and the critical issues facing the energy sector, against the backdrop of an oil-price resurgence.
With less than two months to go before the UAE hosts the global climate summit, Adipec 2023 and the decisions taken over the next couple of days, become all the more consequential
One of the most pragmatic issues on the table at the various panel discussions at Adipec will be the funding of the global energy transition, for which the participation of international stakeholders is not only needed but imperative. Simply put, transitioning away from fossil fuels towards renewables will take time and it will require money. Furthermore, developing technologies to decarbonise fossil fuel extraction necessitates investments. That money will need to be pledged, despite other pressing economic concerns for oil and gas companies.
As the International Energy Agency has said, the world has to increase clean energy spending from the $1.8 trillion expected in 2023 to $4.5 trillion per year by the start of the next decade to limit global warming to 1.5°C above pre-industrial levels, which is the ultimate climate goal.
More than 160,000 energy professionals will be in attendance and the issues that will be discussed at this event are likely to inform the climate talks in November. Just last week, Dr Sultan Al Jaber, Cop28 President-designate and UAE special envoy on climate change, told the Climate Future Week conference in Dubai: "A phase-down of unabated fossil fuels is inevitable. In fact, it is essential." Dr Al Jaber, also the UAE’s Minister of Industry and Advanced Technology, stressed the UAE’s investments in expanding clean hydrogen supply and spoke of the need for the world to increase its renewable energy capacity.
Over the next four days, dialogue will be at the crux of the conference. Clear decisions will have to be taken as representatives of 164 countries and thousands of private sector participants meet and exchange perspectives on solutions that can be adopted towards a cleaner future. An international resolve for the sake of a common future will be the need of the hour.
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
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Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
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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
On sale: Now
Price: From Dh149,900
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The specs
Engine: 4-litre twin-turbo V8
Transmission: nine-speed
Power: 542bhp
Torque: 700Nm
Price: Dh848,000
On sale: now
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The years Ramadan fell in May
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Mohammed bin Zayed Majlis
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Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
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Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
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The five pillars of Islam
RESULT
Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')
Man of the Match: Aaron Mooy (Huddersfield Town)
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
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KEY HIGHLIGHTS
Healthcare spending to double to $2.2 trillion rupees
Launched a 641billion-rupee federal health scheme
Allotted 200 billion rupees for the recapitalisation of state-run banks
Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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Abu Dhabi Sustainability Week
