As greenhouse gas emissions continue to rise and the threat of global warming looms ever larger, the world faces a conundrum: how to reduce the amount of harmful CO being released into the atmosphere in a global economy that continues to rely on fossil fuels for the majority of its energy requirements.
While fossil fuels remain the mainstay of Abu Dhabi’s economy, in recent years the emirate’s authorities have nonetheless expended considerable efforts to place it at the forefront of global initiatives to advance renewable energy. The culmination of these efforts occurred in June 2015, when Abu Dhabi’s Masdar City played host to the opening...
The Abu Dhabi authorities have set an ambitious recovery target of 70% for the emirate’s maturing oilfields. Achieving this goal will require the implementation of sophisticated advanced technology, including enhanced oil recovery (EOR) techniques. At the same time, Abu Dhabi National Oil Company (ADNOC) has set a sector goal of 75%...
July 2015 marked a watershed moment in the Arab Gulf’s decades-long history of cheap oil, as the UAE became the region’s first country to remove subsidies for transport fuel. Abu Dhabi-based daily The National reported on July 28, 2015 that prices for 95-octane unleaded petrol rose overnight from Dh1.72 ($0.47) per litre to Dh2.14 ($0....
According to figures from the Statistics Centre – Abu Dhabi, in 2014 the mining and quarrying sector, including oil and gas, contributed Dh485.7bn ($132.2m) to Abu Dhabi’s GDP when measured at current prices. The emirate holds 94% of the UAE’s oil reserves and as of the end of 2014 the UAE had proven oil reserves of 97.8bn barrels, equivalent to 5.8% of the world total, placing the UAE eighth...
Thanks to business-friendly government policies implemented over the past 10 years Abu Dhabi is now home to a rapidly diversifying economy that is among the largest in the region, with GDP reaching a total of Dh952.68bn ($259.32bn) at current prices in 2014.
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