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Energy

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia 

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
  • They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
  • The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.

GCC leads the charge in global sustainability efforts

The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
  • The bloc is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and clean technology.
  • The EU's $3.6 billion climate tax on shipping pushes for greener maritime practices, while the environmental toll of war demands global accountability and swift action.

Geopolitical tensions boost oil, weigh on equities

Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
  • Moscow has escalated its aerial attacks on Kyiv, targeting key infrastructure in the wake of Ukrainian attacks on Russian oil facilities.
  • Russia is a key producer of oil, while the Gaza-Israel war has given rise to worries about Middle Eastern crude supplies.

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
  • The CEO acknowledged China's economic growth in recent decades, and expressed admiration for the country’s ability to overcome challenges.
  • He underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners.

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
  • Compared with the same period in 2022, imports decreased both in value (-34.2 percent) and in net mass (-11.7 percent).
  • Comparing 2023 with 2022, the value of energy products dropped by 35 percent, while the volume dropped by 9.4 percent.

OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye

VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...
  • The Development and Investment Bank of Türkiye (TKYB) will on-lend the funds to small and medium-sized enterprises.
  • This will help efforts to overcome the calamity’s impact and to promote a more resilient and sustainable agriculture sector.

Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid

Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
  • Unit 4 will add another 1,400 megawatts of clean electricity capacity to power the national grid, representing another significant step forward towards full-fleet operations
  • This further supports the UAE’s efforts in enhancing grid stability and energy security through abundant around-the-clock zero-emissions electricity

Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
  • Bayraktar outlined several potential routes for this transportation, including a swap arrangement via Iran or a combination of Iran and Azerbaijan
  • He stressed that a primary consideration is the establishment of a pipeline traversing the Caspian Sea, offering a higher-capacity solution

India plugs into the Gulf region with power cables

India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
  • India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via undersea cables.
  • The move aims to boost energy security, promote the use of renewable resources, and foster closer economic ties with Gulf states.

Middle East oil policies not dictated by US, says Russia

MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...
  • The US cannot dictate prices, although they would like to as the world is becoming a multipolar one, a Russian official said.
  • "This multipolarity is expressed in particular in the existence of the group of countries known as OPEC+," he added.

Advanced nuclear technologies and their role in the energy transition

New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...

Latest News

Oil prices extend gains after OPEC+ talks fail, equities mixed

Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...

Disagreement between UAE, Saudi Arabia hobbles OPEC

The UAE on Sunday pushed back against a plan by the OPEC+ group to extend a pact to cut oil...

Geopolitical tensions boost oil, weigh on equities

Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...

Most Read

Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid

Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
  • Unit 4 will add another 1,400 megawatts of clean electricity capacity to power the national grid, representing another significant step forward towards full-fleet operations
  • This further supports the UAE’s efforts in enhancing grid stability and energy security through abundant around-the-clock zero-emissions electricity

Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
  • Bayraktar outlined several potential routes for this transportation, including a swap arrangement via Iran or a combination of Iran and Azerbaijan
  • He stressed that a primary consideration is the establishment of a pipeline traversing the Caspian Sea, offering a higher-capacity solution

India plugs into the Gulf region with power cables

India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
  • India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via undersea cables.
  • The move aims to boost energy security, promote the use of renewable resources, and foster closer economic ties with Gulf states.