Latest news with #Imaz
Al Etihad
19-05-2025
- Business
- Al Etihad
ADNOC, Tubacex sign agreement to localise oilfield technology
19 May 2025 15:30 ABU DHABI (ALETIHAD)ADNOC announced on Monday the signing of a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localise critical oilfield technology, enhancing the resilience of the UAE's industrial base. The announcement was made at the 'Make it in the Emirates' forum in Abu agreement grants ADNOC perpetual and exclusive rights to utilise Tubacex's Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain will establish a dedicated research and development (R&D) centre in Abu Dhabi. This facility will act as a hub for advanced engineering and train highly skilled technicians in-country – contributing to the development of local Al Kaabi, ADNOC Upstream CEO, said, "This strategic partnership secures ADNOC access to an important technology for completing oil and gas wells, reinforcing our role as a reliable global energy provider and our efforts to boost domestic manufacturing capacity. We welcome Tubacex's investment in a new research and development centre in Abu Dhabi which will enable knowledge and technology transfer, help develop local talent and support the goals of the Make it in the Emirates initiative.'Tubulars, also known as Oil Country Tubular Goods (OCTG), are specialised steel pipes used in the drilling and completion of oil and gas wells. These components must meet stringent standards for strength, durability and reliability to operate in high-pressure, high-temperature environments deep Imaz, Tubacex Group CEO, said, 'The licencing arrangement with ADNOC confirms Tubacex's commitment to innovation and excellence in the energy sector and reinforces our position as a strategic contributor for major players in the industry.' The 'Make it in the Emirates' forum is taking place from May 19-22 at ADNEC Centre Abu Dhabi. It is the UAE's flagship industrial event, designed to accelerate the country's manufacturing ambitions.
Reuters
20-02-2025
- Business
- Reuters
Repsol cuts green hydrogen target by as much as 63%
MADRID, Feb 20 (Reuters) - Spanish energy company Repsol ( opens new tab cut its 2030 target for green hydrogen production by up to 63%, Chief Executive Josu Jon Imaz said on Thursday, highlighting the challenges of a high-cost industry heavily reliant on subsidies. Repsol now expects to achieve between 0.7 gigawatts (GW) and 1.2 GW of electrolyser capacity by the end of the decade, down from a previous 1.9 GW target, Imaz told analysts as he presented results for the year. This is due to delays in the development of the market and the regulatory framework, among other reasons, he said. "We are prioritising return and prudence in the capital allocation over any capacity target," he said. Green hydrogen is produced using renewable energy and is seen as key to decarbonise Europe's economy in the future. However, given its cost, green hydrogen projects in general are not competitive without subsidies. here.
