UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

ADNOC signs MoU with Currenta GmbH & Co. OHG and North Rhine-Westphalia government to promote low-carbon energy solutions

 

ADNOC

The North Rhine-Westphalia government, Currenta GmbH & Co., and the Abu Dhabi National Oil Company (ADNOC) have signed a Memorandum of Understanding (MoU) to encourage low-carbon energy alternatives. German company OHG that offers services to the chemical sector. The MoU aims to concentrate on low-carbon ammonia production and transportation, which will be used as a fuel in energy production. 

As per the agreement, ADNOC and Currenta will collaborate to create and test low-carbon ammonia as a fuel for electricity production. At Currenta's facility in Dormagen, Germany, one of the biggest chemical facilities in Europe, the fuel will be tested on an industrial scale as part of the project. The studies will determine whether low-carbon ammonia works well as a fuel for manufacturing and generating electricity. They will also help identify potential obstacles and growth prospects for the technology. 

ADNOC is dedicated to lessening the negative effects of its activities on the environment and varying its energy mix. The corporation has set lofty goals to employ 30% of clean energy sources in its overall energy mix by 2030 and to cut its greenhouse gas emissions by 25% by that year. A step toward attaining these goals and assisting in the shift to a low-carbon economy is the cooperation with Currenta and the North Rhine-Westphalia government. 

Reduce greenhouse gas emissions dramatically and enhance air quality by using low-carbon ammonia as a fuel. A variety of renewable energy sources, such as wind and solar energy, can be utilized to manufacture ammonia, which is then used as a fuel for a variety of purposes, such as power generation, shipping, and transportation. ADNOC and Currenta are helping to create a sustainable and low-carbon energy future by generating low-carbon ammonia and experimenting with its usage as a fuel. 

The alliance between ADNOC, the North Rhine-Westphalian government, and Currenta emphasizes the value of international cooperation in the energy industry. Companies and governments may collaborate to create novel solutions and quicken the switch to a green economy by exchanging knowledge, skills, and resources. 

In conclusion, the MoU signed by ADNOC, the North Rhine-Westphalia government, and Currenta represents an important milestone in the creation of low-carbon energy solutions. The partnership will concentrate on producing and transporting low-carbon ammonia for use as a fuel in energy production, and it will involve testing the technology on an industrial scale at Currenta's facility in Germany. Together, the partners are advancing the creation of a low-carbon, sustainable energy future and highlighting the value of international cooperation in the energy industry. 


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