AGP Executive Report
Last update: 10 hours agoEnergy Investment: The UAE outlined Dh200 billion in energy investment at ADIPEC as officials said oil exports had topped prewar levels. ADNOC also took a final investment decision on its Ruwais Diyab gas project and signed a five-year LNG supply deal with TotalEnergies. Global Deals: Abu Dhabi’s XRG agreed to buy Shell’s stake in Australia’s North West Shelf project for about $1.45 billion, while ADNOC’s local manufacturing programme unveiled Dh60 billion in new opportunities, building on Dh307 billion redirected into the economy since 2018. AI Push: Abu Dhabi signed four agreements with OpenAI spanning government, energy and investment; ADNOC plans to use the company’s technology in its operations. Finance: UAE banks reported steady third-quarter profit growth, with Commercial Bank International posting a 58% jump as it worked through legacy issues. JPMorgan also opened a private banking branch in DIFC, expanding its UAE wealth-management presence.
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