TRUCKING-

Adnoc Distribution will power its UAE heavy vehicle fleet with B20 biodiesel, targeting a 15% reduction in CO2 emissions by the fleet, according to a press release. The fleet plays a critical role in delivering fuels and liquified petroleum gas (LPG) to Adnoc customers, and the move is in line with efforts by the firm to step up its decarbonization plans, the statement said. “We are delivering on our commitment to using biofuel to power our fleet and help reduce our carbon intensity by 25% by 2030,” CEO of Adnoc Distribution Bader Saeed Al Lamki said in statements cited by the press release.

ALSO FROM ADNOC- A dnoc will use a battery storage system of repurposed EVs batteries to decarbonize remote operations: Adnoc is partnering up with German consulting and engineering startup Power ID to deploy repurposed EV batteries to reduce reliance on diesel generators in powering remote drilling rigs, according to a press release. The system will be built in the UAE and will be able to hold up to 2 MW of power within a single 20 foot storage container. Each container will be mobile, allowing for deployment at remote sites. The system will allow for the use of EV batteries that would have otherwise been disposed of.

The battery energy storage system will cut the carbon emissions of remote drilling rigs by up to 25% and reduce their energy expenditure by 50%, according to the release.

AVIATION-

Saudi low cost carrier Flynas took delivery of five Airbus A230s in the past month, expanding its all-Airbus fleet to 56 aircraft, according to a press release. The airline has so far received 11 aircraft this year, and eight new planes are scheduled for delivery over the next few weeks, according to the press release. This is part of “an order of purchasing 120 aircraft from Airbus in a total amount exceeding SAR 32 bn,” Flynas CEO Bander Al Mohanna said. The expansion of the carrier's fleet “will enable us to increase our expansion plans in the current year through the launch of new domestic and international destinations,” Al Mohanna added.

M&A WATCH-

Abu Dhabi’s International Holding Company (IHC) has upped its stake in India’s Adani Enterprises (AEL) to over 5%, according to a Abu Dhabi Securities Exchange (ADX) disclosure (pdf). The IHC said it believes in “the inherent strength of airports, data centers, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalize on India’s robust growth journey.” This follows a move by IHC to sell its investments in Adani Green Energy and Adani Transmission as part of its strategy to rebalance its portfolio, according to separate ADX disclosure (pdf). The IHC’s increased stake in AEL is a “ringing endorsement of the group's robust capex plans, governance, and transparency,” Reuters quoted Adani Group as saying.

ALSO WORTH KNOWING-

  • Kuwaiti Agility’s Menzies Aviation has signed an MoU with Air Serbia to establish a joint venture to provide passenger and ramp services at Belgrade Nikola Tesla Airport starting February 2024. (Statement)
  • A German-Omani business forum held by the Oman Chamber of Commerce discussed cooperation in transportation and logistics, with officials stressing the need for exchanging trade delegations to exchange knowledge and facilitate imports and exports between the two countries. (Oman News Agency)
  • S audi Ports Authority’s King Fahd Industrial port in Yanbu exported its first shipment of asp halt - bitumen to Saudi Arabia’s Aramco Luberef base oil company, following a 20-year hiatus.(Statement)
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