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2018-02-16 23:15:00

DEWA INVESTS $22 BLN

DEWA INVESTS $22 BLN

AOGThe Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

Last week, DEWA closed a deal for an 815 megawatt gas turbine project with German conglomerate Siemens and its Egyptian partner Elsewedy Electric.

The firm is also constructing the world's biggest solar energy park as it looks to scale back its reliance on natural gas as its main source of energy for electricity. Al Tayer claimed "Our strategy is 75% by 2050 will be renewable," he said. "By 2020 we will achieve more than our target. Our target is 7% but I think we will achieve 8 to 9%."

DEWA is also building the region's first hydroelectric pumped storage plant in the Hatta area with a capacity of 250 megawatts.

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Earlier:

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2018, February, 12, 07:15:00

UAE - INDIA'S CONCESSION: $600 MLN

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 UAE CUTS OUTPUT
2017, November, 15, 15:05:00

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 UAE IS BETTER FOR IMF
2017, July, 17, 13:45:00

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The economy is weathering the post-2014 oil shock well. The key policy goal is to foster economic adjustment to the new oil market realities. To foster the adjustment, especially given downside risks, the momentum in fiscal reforms needs to be sustained and coordinated with structural reforms. To ensure credibility, fiscal adjustment should be accompanied by strengthening the medium-term policy framework and improving transparency. Ongoing initiatives to upgrade the supervisory and regulatory framework for the financial sector are welcome and need to continue. Focused, multi-pronged initiatives to raise productivity and diversify the economy would improve medium-term economic prospects. Amid ongoing economic adjustment, continued improvements in statistics are critical for enhancing policy analysis and decision-making.

 

 UAE CUTS OIL PRODUCTION 139,000 BPD
2017, March, 10, 18:50:00

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The United Arab Emirates (UAE) will comply fully with its OPEC commitment to reduce oil production by more than 139,000 barrels per day (bpd) in March and April, the Gulf OPEC member's energy minister Suhail said on Thursday.

 

 THE NEW TIMES OF UAE
2016, October, 20, 18:30:00

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 UAE WANTS OIL
2015, October, 29, 19:40:00

UAE WANTS OIL

The United Arab Emirates (UAE) was the world's sixth-largest oil producer in 2014, and the second-largest producer of petroleum and other liquids in the Organization of the Petroleum Exporting Countries (OPEC), behind only Saudi Arabia. Because the prospects for further oil discoveries in the UAE are low, the UAE is relying on the application of enhanced oil recovery (EOR) techniques in mature oil fields to increase production.

 

 US & UAE AGREEMENT
2014, October, 5, 14:15:00

US & UAE AGREEMENT

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Tags: DEWA, DUBAI, UAE
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RUSSIA'S OIL PRODUCTION: 11.3 MBD

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UNEXPECTED OIL PRICES

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OIL MARKET UNCERTAINTY

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OPEC-NON-OPEC DECISIONS

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U.S. CAPITAL EXPENDITURES UP

All Publications »

Chronicle:

DEWA INVESTS $22 BLN
2018, September, 21, 10:25:00

U.S. ENERGY CASH: $119 BLN

U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014

DEWA INVESTS $22 BLN
2018, September, 21, 10:20:00

WORLD OIL DEMAND: 100.23 MBD

OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.

DEWA INVESTS $22 BLN
2018, September, 21, 10:15:00

IRAQ'S OIL: NO RECORD

ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.

DEWA INVESTS $22 BLN
2018, September, 21, 10:10:00

NATURAL GAS EXPORT UP

PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.

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