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☆ COP28: UAE signs deal with Bill Gates' nuclear company on advanced reactors
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Mukoya Acquire Licensing RightsDUBAI, Dec 4 (Reuters) - Bill Gates' advanced nuclear reactor company TerraPower LLC and the United Arab Emirates’ state owned nuclear company ENEC said on Monday they have agreed to study the potential development of advanced reactors in the UAE and abroad. “For the UAE, we're looking for a future for the clean electrons and molecules that will be brought to reality by advanced reactors,” said Mohamed Al Hammadi, CEO of ENEC, during the signing ceremony. "Bringing advanced nuclear technologies to market is critical to meeting global decarbonization targets," said TerraPower President and CEO Chris Levesque. The UAE currently has one traditional nuclear power plant, near Abu Dhabi, which began producing electricity in 2020. The MOU between TerraPower and the UAE said they would explore uses for advanced nuclear reactors such storing power on the grid and providing the energy needed to produce hydrogen, and decarbonize coal, steel and aluminum plants.

Persons: Bill Gates, Thomas Mukoya, ENEC, ”, Mohamed Al Hammadi, Chris Levesque, TerraPower, Richard Valdmanis, Kim Coghill Organizations: Microsoft, United Nations, Change, United Arab Emirates, REUTERS, Rights, TerraPower, United, UAE, The UAE, Thomson Locations: Dubai, United Arab, UAE, Abu Dhabi, U.S ., Wyoming, TerraPower, Russia, TerraPower's Wyoming, Ukraine, United States

☆ Iraqi prime minister inaugurates Karbala oil refinery
▼ + stars: | 2023-04-01 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: Iraqi Prime Minister Mohammed Shia Al Sudani signs the guest book during a reception at Qasr Al Watan in Abu Dhabi, United Arab Emirates, February 09, 2023. Mohamed Al Hammadi/UAE Presidential Court/Handout via REUTERS(Reuters) - Iraqi Prime Minister Mohammed Shia al-Sudani has inaugurated the Karbala oil refinery which has a production capacity of 140,000 barrels per day (bpd), his office said in a statement on Saturday. In January, a source at the refinery told Reuters commercial production will start with a test run at 60% capacity. The country is aiming for the refinery to operate at full capacity by July, the source added.

☆ UAE pledges to invest $30 billion in South Korea, president's office says
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

[1/5] Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, receives Yoon Suk Yeol, President of South Korea and Kim Keon-hee, First Lady of South Korea, upon their arrival for a state visit reception, at Qasr Al Watan, Abu Dhabi, United Arab Emirates, January 15, 2023. Mohamed Al Hammadi/UAE Presidential Court/Handout via REUTERSSEOUL, Jan 15 (Reuters) - The United Arab Emirates (UAE) has decided to invest $30 billion in South Korea's industries, South Korea's presidential office said on Sunday, as the two countries seek to expand economic cooperation. The investment decision was announced as South Korea's President Yoon Suk-yeol met his UAE counterpart, Sheikh Mohammed bin Zayed al-Nahyan, in Abu Dhabi during a four-day state visit, Yoon's office said. "We have decided a $30 billion investment based on the trust on South Korea which keeps promises under any circumstances," Yoon's office quoted the UAE president as saying. Seoul's finance ministry said the $30 billion investment would be led by sovereign wealth funds, including Mubadala Investment Company.

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