SEC, Emaar Economic City sign agreements Â
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
Geostrategy
Economy
Global electricity demand slowing sharply: IEA
The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels.
- The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels
- The IEA said that Europe was gearing up to reduce its reliance on Russian fossil fuel imports by accelerating its clean energy transition
Economy
Russia resumes critical gas supplies to Europe via Nord Stream
Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days,...
- The German government had feared that Moscow would not reopen the pipeline after the scheduled work
- Gazprom has cut flows to Germany via the vital Nord Stream 1 pipeline by some 40 percent in recent weeks
Science
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
- Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
- Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Economy
Turkey to resume drilling for gas near Cyprus: minister
Turkey next month will resume drilling operations near the divided island of Cyprus, a top official said Wednesday, threatening to...
- Turkey had been drilling near waters claimed by its historic rival Greece and the self-declared Turkish Republic of Northern Cyprus (TRNC) recognized only by Ankara
- The 2020 crisis was smoothed over when Turkey pulled back a research vessel from the resource-rich region and halted its drilling operation near the island
Economy
Libyans at boiling point amid summer power cuts
The people of Libya are enduring electricity cuts of up to 18 hours a day, despite their country sitting atop...
- The electricity crisis is just the latest trial for Libyans after a decade of insecurity, fuel shortages
- Many of Libya's seven million people have turned to unreliable, gas-guzzling and polluting generators for electricity
Science
‘Hydrocarbon trade must finance transition to clean energy’
A study in the journal Nature Climate Change found that within this century, parts of the Gulf region could be...
- The international community largely agrees that climate change poses an existential threat to the planet.
- Meteorologists are predicting more frequent and intense episodes of extreme weather in coming years.
Geostrategy
Egypt President says world must jointly deal with energy crisis
Egypt's President Abdul Fattah Al-Sisi underscored the importance of coordination and cooperation among all countries of the world to confront...
- Egypt's President Abdul Fattah Al-Sisi said global coordination and cooperation is necessary to deal with the energy crisis
- He said Egypt is determined to coordinate with friendly countries to tackle tension in its neighborhood
Economy
MENA Forum 2022 to focus on US$250b worth of power projects
The combined investments in the MENA power sector includes US$93 billion which has already been committed.
- The combined investments in the MENA power sector includes US$93 billion which has already been committed
- US$60 billion worth of power projects are being developed in Saudi Arabia, followed by Egypt with US$37 billion worth of projects
Business
European Union seeks to double gas import from Azerbaijan
Azerbaijani President Ilham Aliyev said last week that "an important document on energy security will be signed between the European...
- Last year, Azerbaijan supplied some 8 billion cubic meters of natural gas to Europe through pipelines running via Georgia and Turkey.
- In May, EU leaders agreed to stop most Russian oil imports by the end of 2022, as part of unprecedented sanctions they slapped on Moscow.
Business
Capacity of DEWA IPP projects exceeds 4,000 MW
IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects.
- IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
- DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
SEC, Emaar Economic City sign agreements Â
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
Company News
Latest News
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
Geostrategy
National Leasing’s profits hit $2.37m
A jump of 28 percent in net profit vis-a- -vis H1 2022.
Business
Egypt energy-saving measures evoke satirical reaction among citizens
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...
Arts & Culture
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Business
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
- The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
- The government of Pakistan has already approved a refinery policy for new projects in the country.
Business
ExxonMobil Q2 profits $7.9bn
Profits fell on lower refining margins, natural gas prices.
- Natural gas prices are down sharply from the year-ago period following a mild winter.
- The comparative weakness in refinery margins reflects sluggish economic conditions.
Business
Major energy firms post sliding profits as oil and gas prices dip
Gas prices had soared last year after Russia cut gas shipments to Europe while oil markets were also rocked by...
- Shell on Thursday said its profit after tax came in at $3.13 billion in the second quarter (Q2), down 80 percent compared with Q2 last year.
- French group TotalEnergies said its net profit dropped 28 percent to $4.1 billion in the second quarter from a year earlier.