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Sun, 08 Dec 2019 19:43 GMT

UAE Energy Stocks Rebound as ADIPEC 2019 Kicks Off

Business

7Dnews London

Tue, 12 Nov 2019 09:25 GMT

UAE energy shares rebounded on Monday, November 11th, as the world's most influential oil and gas industry conference, ADIPEC 2019, kicked off.

TAQA rose 4.04%, the highest pace since 4th session of the current month, to AED0.669, through the conclusion of four deals on 50,000 shares, worth AED33.0300

Dana Gas climbed 3.97%, the biggest daily gain since July 24th, 2019, equivalent to four months of daily trading.

Some 3.99 million DANA shares were traded with a value of AED3.55 million to reach AED0.89 through 71 transactions.

ADNOC Distribution's share price reached AED2.65, through 331.18 shares, valued at AED879.49. Abu Dhabi Securities Market (ADX) investors executed 41 transactions on the stock, but settled at the end of today's session.

The energy sector recorded a gain of 2.59%, gaining 39.28 points, through 4.38 million shares, at a total value of AED4.46 million.

The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2019) is being held on November 11th–14th, at the Abu Dhabi National Exhibition Centre with the participation of more than 2200 exhibitors. The event is held under the patronage of UAE President Sheikh Khalifa bin Zayed Al Nahyan, in the presence of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

The event is the largest in the history of ADIPEC, which has established itself as the world's most influential event in the oil and gas sector thanks to its contribution to shaping the future of the sector and providing a global platform to identify best practices and innovation in the sector.

Over four days, more than 150,000 attendees and visitors from 167 countries, including decision-makers and senior thought leaders, will be present at the event.

Among the world's most famous speakers are former US Secretary of State Condoleezza Rice, retired General David Petraeus, president of the KKR International Institute, and Sebastian Thrun, CEO of Kitty Hawk, founder of Google X Lab.

ADIPEC has been able to ensure its continued success since it was first launched in 1984. This year, ADIPEC is fully restructuring its prestigious Strategic Conferences program to focus on the concept of 'Oil and Gas 4.0', referring to the 'fourth industrial era'.

ADIPEC 2019 highlights the impact of digital and emerging technologies on oil, gas and energy.

ADIPEC 2019 will feature 2,200 exhibitors covering 160,000 square metres at the Abu Dhabi National Exhibition Centre (ADNEC), including the Naval and Maritime Waterfront Exhibition. The exhibitors will feature 35 national oil companies and 16 other international companies, an increase of 12% over the previous year as well as 23 national pavilions.

Translated by Nariman Mohammed

Middle East