- State-controlled funds from Saudi Arabia, the UAE and Qatar have led global sovereign investments in the first six months of this year, with a broad focus on sustainable assets in a push to expand their portfolios and achieve their green investment goals, according to a new report.
- Saudi Arabia’s Public Investment Fund, Abu Dhabi’s investment trio – Mubalda Investment Company, the Abu Dhabi Investment Authority and ADQ – and Qatar’s state investment arm the Qatar Investment Authority accounted for more than half of the total sovereign investments globally during the first half of this year, industry specialist Global SWF said in its latest market update.
- Spanish oil and gas company Cepsa, owned by Abu Dhabi fund Mubadala and the Carlyle Group, has reached an agreement with PreZero Spain, part of the environmental division of German supermarket group Lidl’s owner Schwarz Group, to develop biomethane plants using organic waste.
- Cepsa is investing up to EUR8 billion ($8.6 billion) through 2030 to shift its business toward low-carbon fuels, such as green hydrogen and biofuels.
- The Saudi Public Investment Fund (PIF) enters a memorandum of understanding (MoU) with Hong Kong-listed ChaoShang Group, aiming for a potential investment of $500 million (Dh1.8 billion), according to a report by Saudi financial news portal Argaam.com.
- Hong Kong ChaoShang Group Ltd is an investment holding company. It is engaged in trading, moneylending, finance leasing, and finance services and founded in 2002.
- In a contract valued at $733 million, ADNOC Drilling will deploy three ‘island’ drilling rigs for the offshore Zakum field operations in Abu Dhabi. It was awarded by a group entity, ADNOC Offshore.
- The new island rigs will operate on existing and newly constructed artificial islands for drilling and completion of wells.
