Abu Dhabi State Oil Company Adnos and two public investment funds – Adu Dhabi Investment Holding and Mubadala Investment Co. – merged into an alliance that will produce hydrogen.
Adnoc and Mubadala will produce hydrogen from both natural gas (blue) and renewable energy sources (green) and export it via all over the world. This move reflects the growing role of this gas in the world.
Although the production of “green” hydrogen is still much more more expensive than “blue” or “gray”, which are produced from natural gas and coal, respectively. 
Saudi Arabia has bet on hydrogen even earlier.
With this alliance, Abu Dhabi is following in the footsteps of Saudi Arabia, which unveiled the world's largest clean hydrogen project last year. The plant, which will also produce ammonia, will cost $ 5 billion.
It will be powered by wind and solar power plants with a total capacity of 4 GW. They will be located in the smart city NEOM – the most ambitious economic formation in the Kingdom to date.
According to data Bloomberg, the UAE, like Saudi Arabia, has significant reserves of natural gas for the production of blue hydrogen … And the countries themselves are teeming with sunshine. This allows for the creation of huge solar power plants.
Adnoc already produces about 300 thousand tons of hydrogen per year. Bloomberg notes that the company is using this chemical in its subsequent operations. Now Adnoc plans to increase production to 500 thousand tons per year. : ///
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