{"id":101714,"date":"2025-03-17T00:00:00","date_gmt":"2025-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-adnoc-eyes-mubadalas-energy-assets-in-potential-usd-10-bn-transaction-sheikh-tahnoon-bin-zayad-al-nahyanis-in-the-us\/"},"modified":"2025-03-17T00:00:00","modified_gmt":"2025-03-17T00:00:00","slug":"this-morning-adnoc-eyes-mubadalas-energy-assets-in-potential-usd-10-bn-transaction-sheikh-tahnoon-bin-zayad-al-nahyanis-in-the-us","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/03\/17\/this-morning-adnoc-eyes-mubadalas-energy-assets-in-potential-usd-10-bn-transaction-sheikh-tahnoon-bin-zayad-al-nahyanis-in-the-us\/","title":{"rendered":"THIS MORNING: Adnoc eyes Mubadala\u2019s energy assets in potential USD 10 bn transaction + Sheikh Tahnoon Bin Zayad Al Nahyanis in the US"},"content":{"rendered":"

Good morning, lovely people. <\/strong>We have a brisk issue for you this morning, though not without a handful of big stories. <\/p>\n

The big story of the day is GulfNav\u2019s shareholders giving the greenlight to its acquisition of Brooge Energy\u2019s energy assets<\/strong>, after months of delays. Plus: Dubai-based startup Micropolis Holding\u2019s lackluster debut on the NYSE. <\/p>\n

So, when do we eat?<\/strong> Maghrib is at 6:32pm today in Dubai and 6:36pm in Abu Dhabi. You\u2019ll have until fajr prayers at 5:08am in Dubai and 5:12am in Abu Dhabi tomorrow to finish your suhoor.<\/p>\n

?\ufe0fWEATHER-<\/strong> We could be in for some light rainfall today<\/strong>, along with a mostly cloudy day, according to our favorite weather app and the National Center of Meteorology\u2019s forecast (pdf)<\/a>. Temperatures today will hit 29\u00b0C in Dubai<\/strong> with an overnight low of 19\u00b0C, and 24\u00b0C in Abu Dhabi<\/strong> before cooling to an overnight low of 20\u00b0C.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> National <\/strong>Security Advisor and G42 Chair Sheikh Tahnoon Bin Zayad Al Nahyan is <\/strong>heading to the US<\/strong> to meet senior White House officials to discuss advancing bilateral and economic ties, according to the Abu Dhabi Media Office<\/a>.<\/p>\n

ICYMI- <\/strong>We reported last week<\/a> that Sheikh Tahnoon Bin Zayad Al Nahyan would visit the US to advocate for lifting restrictions on exports of AI chips and GPUs, making it easier for the UAE to access advanced chips. The meeting will discuss UAE investments in the US, and will likely see him sit down with Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and National Security Advisor Mike Waltz.<\/p>\n

UPDATE- <\/p>\n

UAE <\/strong>launches<\/strong> first SAR satellite: <\/strong>The Mohammed Bin Rashid Space Center (MBRSC) launched Etihad-SAT, the UAE\u2019s first synthetic aperture radar (SAR) satellite, aboard a Falcon 9 rocket from California\u2019s Vandenberg Space Force Base, state news agency Wam<\/a> reports. Dubai\u2019s ground station received the first signal an hour and 22 minutes later.<\/p>\n

Why it matters: <\/strong>Etihad-SAT \u2014 developed in partnership with South Korea\u2019s Satrec Initiative \u2014 boosts MBRSC\u2019s capabilities by providing high-resolution radar imaging in all weather conditions, day or night. The satellite features three imaging modes that allow for precise monitoring for oil spill detection, disaster management, maritime navigation, smart agriculture, and environmental tracking. Its data will be processed using AI to improve accuracy and efficiency.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Adnoc eyes Mubadala\u2019s energy assets in potential USD 10 bn transaction:<\/strong> Abu Dhabi National Oil Company (Adnoc) is reportedly in talks with sovereign wealth fund Mubadala to acquire its energy assets in a transaction that could be worth some USD 10 bn, Bloomberg<\/a> reports, citing unnamed sources it says have knowledge of the matter. Talks \u2014 which began late last year \u2014 had stalled were paused for several months due to disagreements over the assets\u2019 valuation. They are expected to resume after the end of Ramadan, the sources added.<\/p>\n

Mubadala\u2019s assets:<\/strong> Mubadala owns assets in the energy sector in Thailand, Indonesia, Malaysia, and Oman, in addition to being the main shareholder in Dolphin Energy, which transports gas from Qatar to the UAE.<\/p>\n

This wouldn\u2019t be the first time: <\/strong>Mubadala transferred a quarter of its stake<\/a> in renewables giant Masdar to Adnoc ahead of Cop28, boosting the oil giants\u2019 renewables portfolio. <\/p>\n

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#2- <\/strong>The <\/strong>Investment Ministry joined the World Association of Investment Prom<\/strong>otion <\/strong>Agencies<\/strong>, Wam<\/a> reports. The organization facilitates knowledge sharing, skill development, and policy advocacy to enhance global foreign direct investment (FDI). The membership will help the UAE strike new international partnerships and boost mutual investments with other countries, Investment Minister Mohamed Hassan Al Suwaidi said. <\/p>\n

REMEMBER- The move comes as the UAE\u2019s <\/strong>new national investment strategy<\/a><\/strong> looks <\/strong>to boost annual FDI flows to AED 240 bn<\/strong>, up from AED 112 bn in 2023, and increase the total stock of foreign investments to AED 2.2 tn<\/a> by 2031. Dubai\u2019s greenfield FDI projects attracted AED 52.3 bn in capital in 2024<\/a>, while the value of UAE greenfield FDI projects fell 33% y-o-y to USD 14.5 bn (AED 53.2 bn) in 2024.<\/p>\n

PSAs-<\/p>\n

<\/a> #1- The Dubai Electricity and Water Authority (DEWA) now requires independe<\/strong>nt <\/strong>electric vehicle (EV) charging operators to obtain a license for public charging infrastructure <\/strong>under a new regulatory framework (pdf)<\/a>, the authority said in a statement. Operators are required to apply for one of two licenses \u2014 either a no-cost public charging license or a paid public charging license \u2014 before 31 March. <\/p>\n

What\u2019s next?<\/strong> DEWA will issue AC charger licenses via an upcoming online portal. DC chargers over 50 kW or those in public areas need special approval.<\/p>\n

No-cost charging services will continue to be permitted during the transitional period<\/strong>, but collecting fees without a valid DEWA license is prohibited.<\/p>\n

#2<\/strong>- Al Rami st<\/strong>reet on Al Reem Island will be closed from 15 March until 30 Ap<\/strong>ril<\/strong>, Abu Dhabi\u2019s Integrated Transport Center said in a post on X<\/a> without specifying the reason for the closure.<\/p>\n

#3- <\/strong>Abu Dhab<\/strong>i property owners using fencing that distorts public appea<\/strong>rance will now face fines<\/strong>, according to new regulations<\/a> from the Department of Municipalities and Transport. Fines start from AED 3k for the first violation, AED 5k for the second, and AED 10k for any further violations.<\/p>\n

DATA POINTS-<\/p>\n

#1- <\/strong>UAE's <\/strong>cinema and gaming sectors see strong revenues in 2024: <\/strong>The UAE\u2019s cinema industry generated AED 800 mn in revenue in 2024, with 1.26k films screened and 15 mn tickets sold, according to a UAE Media Council statement<\/a>. The video game sector saw revenues exceed AED 1.5 bn. <\/p>\n

#2- <\/strong>Dubai\u2019s <\/strong>endowment assets grew 9% y-o-y to AED 11.1 bn i<\/strong>n 2024<\/strong>, state news agency Wam<\/a> reports, citing comments by Dubai Crown Prince Hamdan bin Mohammed bin Rashid Al Maktoum during a meeting with the Endowments and Minors\u2019 Trust Foundation in Dubai (Awqaf Dubai). The total number of endowments rose to more than 1k, with 578 donors contributing.<\/p>\n

Who manages Dubai endowments? <\/strong>Awqaf Dubai manages AED 3.7 bn worth of endowments, while AED 7.4 bn is overseen by third parties.<\/p>\n

#3- <\/strong>The <\/strong>Dubai Chamber of Commerce registered 70.5<\/strong>k new companies in 2024<\/strong>, state news agency Wam<\/a> reports.<\/p>\n

Sector breakdown:<\/strong><\/p>\n