UAE’s SNOC partners with Japan’s Sumitomo on CCUS: The UAE’s state-owned Sharjah National Oil Corporation (SNOC) has signed an initial agreement with Japanese trading and investment company Sumitomo Corporation to establish a carbon capture, utilization and storage (CCUS) project in Sharjah, The National reports. The estimated project costs and CO2 storage capacity of the facility were not disclosed. Both companies will conduct a feasibility study across the CCUS value chain for the project including in “transport, storage, business models and assessment of regulatory aspects,” the National quotes SNOC as stating. SNOC has committed to fully decarbonizing its operations by 2032.

A new JV in Oman to boost EV infrastructure: Oman Oil Marketing Company — a subsidiary of the country’s state energy company OQ — has partnered up with Synergy Investments for the development of electric vehicle infrastructure in Oman, Muscat Daily reported earlier this week. Under a binding heads of terms pact signed earlier this month, both companies will establish a JV named Electric Vehicles One focusing on the trading, installation, operation and maintenance of electric vehicle charging stations.

In line with Oman’s big EV plans: The sultanate recently rolled out plans to fully decarbonize its mobility sector by 2050 through an ambitious three-phase plan by the country’s Transport, Communications, and Information Technology Ministry. The first phase would promote the use of EVs in the country through several initiatives, including setting up electric charging stations. Some 145 charging stations will be accessible by the end of the year and a further 250 stations would be operational by 2040, according to officials.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • A UAE desalination partnership: Sharjah’s Electricity, Water, and Gas Authority is partnering up with the Emirates Water and Electricity Company to set up low-carbon reverse osmosis water desalination plants in the UAE. (Wam)
  • Uptick in Omani minerals: Revenues for Oman’s minerals sector grew 11% y-o-y in 2022 as the government tries to lure in investments in the country’s rich and diverse mineral deposits. (ONA)
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