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Heavy earnings dropped from the UAE and KSA
1Q results from Taqa, Tabreed, Emsteel, SEC, Tadweeer, Fertiglobe, Dewa, and Empower.
Fertiglobe, Dewa, and Emsteel’s net income drops in FY 2024
Fertiglobe’s revenues fell 28% y-o-y to record USD 466 mn
TOP STORIES: Green financing news from Egypt and UAE + Updates on Egypt’s solar panel factory
What we’re tracking this week regionally and around the world
Fertiglobe reports first set of earnings since Adnoc acquisition, with the producer set to snap up Adnoc’s stake in Exxon’s Texas hydrogen project
Fertiglobe incurred USD 19.3 mn in losses
Adnoc completes acquisition of Fertiglobe, El-Hoshy staying on as CEO
The transaction increases Adnoc’s stake in Fertiglobe to 86.2%
Adnoc gets approvals to acquire OCI Global’s stake in Fertiglobe
The transaction is set to close tomorrow
PtX Development Fund extends its first Power-to-X grant to Egypt
The EUR 30 mn grant is part of a wider EUR 270 mn project to support green hydrogen production efforts…
TODAY: Acwa Power secures EBRD financing for green hydrogen project in Uzbekistan
What we’re tracking this morning regionally and around the world
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