Saudi Aramco, the world’s largest oil-exporting company, is teaming up with South Korea's Hyundai Motor Group and King Abdullah University of Science and Technology (Kaust) to jointly research and develop advanced fuels for an "ultra lean-burn, spark-ignition engine" that aims to lower overall emissions in hybrid vehicles.
As part of the two-year partnership, Aramco, which has significant research and development and operational experience in fuel formulations, will use its in-house capabilities to design an optimal fuel formulation.
Hyundai Motor Group will provide an ultra-lean gasoline engine for use by the research team, Saudi Aramco said in a statement on Tuesday. The tests will be conducted by researchers in the Clean Combustion Research Centre at Kaust.
“As hybrid electrical vehicles are rolled out, the real challenge now lies in making strides with optimal fuels and exceptional combustion systems,” Ahmad Al-Khowaiter, Aramco’s chief technology officer, said.
“The Aramco team provides fuel design and blending know-how to improve Hyundai Motor Group engine combustion performance and the outcome could lead to the application of synthetic e-fuels.”
The demand for hybrid vehicles, which are powered by an internal combustion engine (ICE) and an electric motor, is expected to soar as the world focuses on cutting emissions to protect the environment. The hybrid vehicle market is expected to reach $1490.1 billion in 2027 from $324.92bn in 2021, according to Mordor Intelligence.
“BEVs (battery electric vehicles) and FCEVs (fuel electric vehicles) will be Hyundai Motor Group’s ultimate technologies to achieve carbon-neutral mobility, while eco-friendly advanced ICE technology that combines eco-friendly fuel and ultra-lean burn engine will be the key to effectively reduce greenhouse gas emissions during our transition to EVs,” Alain Raposo, executive vice president at Hyundai Motor Group, said.
Aramco is forging partnerships with top automakers globally to accelerate the development of transportation technologies that can reduce emissions and improve fuel efficiency.
Last month, it signed an agreement with Formula One’s Aston Martin for the development of highly efficient internal combustion engines, sustainable fuels and advanced lubricants to lower emissions in racing cars.
Aramco also has research centres in Dhahran in Saudi Arabia, Paris, Detroit and Shanghai. The state-owned oil company aims to achieve net-zero carbon emissions in its operations by 2050.
Saudi Aramco's 2021 net profit more than doubled to $110bn, helped by the consolidation of Sabic's full-year results and stronger refining and chemicals margins, the company said earlier this month.
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
Funding: Series A funding of $2.5m with Series B plans for May 2020
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
The five pillars of Islam