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
Russia redirected most oil exports to China and India, says Novak
After President Vladimir Putin sent troops to Ukraine in February 2022, Western countries hit Russia with a slew of sanctions including a...
Geostrategy
Geostrategy
Iran reports new technical advances at nuclear plant: IAEA
The UN watchdog's director-general Rafael Mariano Grossi said the changes at the plant under mountains south of the Iranian capital...
- IAEA said Tehran had started "feeding... a cascade of... centrifuges" at the Fordow fuel enrichment plant which has recently been upgraded.
- In January 2021, Iran said it was working to enrich uranium to 20 percent at Fordow, well beyond the 3.67 percent agreed under the 2015 deal.
Business
TotalEnergies of France pulls out of Russian oil project
Russian oil firm Zarubezhneft will take over its remaining 20 percent stake in the Kharyaga project in the Arctic pending...
- It has promised to stop purchasing Russian oil and gas by the end of the year, and make no further investments there
- TotalEnergies had already ceded a 20 percent stake in the project and the role of operator to Zarubezhneft
Business
Fuel prices drive demand for hybrid vehicles in UAE
While some buyers are opting for smaller compact SUVs and electric vehicles, others are putting their purchase decisions on hold...
- UAE fuel prices jumped around 75 percent since January 2022. Super 98 petrol price increased to Dh4.63 ($1.26) per liter in July 2022 compared to Dh2.65 per liter in Jan 2022.
- Rising petrol prices in the UAE are pushing small businesses and private individuals to switch from vehicle ownership to rentals.
Business
Emerge, Miral to install solar energy at Abu Dhabi theme park
Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...
- The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
- Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
Economy
Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.
- The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
- Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.
Business
IEA says gas use to shrink due to high prices, Russian cuts
Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth...
- The IEA said additional green energy transition measures would ease pressure on gas prices globally
- European nations are importing more LNG shipped by tanker, which the IEA said is creating supply tensions
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.
Economy
Bezos flays US President for call to lower gasoline prices
Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline prices, prompting...
- Soaring gasoline prices in US are sapping Biden's approval rating ahead of legislative elections
- White House Press Secretary said on Sunday that oil prices have dropped about $15 a barrel over the past month
Jordan port workers strike as officials sacked over deadly gas leak
Hundreds of port workers staged a strike in Jordan on Sunday as the prime minister announced the sacking of several...
- About 95 percent of the 2,300 Aqaba port workers participated in the strike, according to AFP
- At least 13 people, including five Vietnamese nationals, were killed and more than 260 others injured
Economy
Iraq’s June crude oil export revenue $11 billion: Ministry
Iraq received in excess of $11 billion as revenue for crude oil export in June, the Ministry of Oil said....
- Crude oil export in June from oil fields in central and southern Iraq amounted to (97) million (980) thousand and (589) barrels.
- Total exported quantities from Kirkuk fields through Ceyhan port amounted to one million (910) thousand and (887) barrels.
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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
Company News
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UAE emissions plan ‘insufficient’, say climate groups
PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis...
Science
US, Arab League discuss Middle East, Israeli-Palestinian conflict
The US-Arab Strategic Dialogue discussed Middle East peace and the Israeli- Palestinian conflict, among other issues. The dialogue concluded successfully...
Geostrategy
UAE and Egypt to boost cooperation in higher education, scientific research
Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific...
Science
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Business
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.
- OQGN is the exclusive operator of the natural gas transportation network in Oman.
- This is considered one of the largest syndicates of Sharia-compliant financing in Oman.
Business
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.
- The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
- The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.
Geostrategy
Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
- Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
- The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.