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
Economy
Big Oil meeting with US govt cordial but no gas price fix
High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating.
- High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating
- Biden and the oil industry have an uneasy relationship, in part over the White House's efforts to restrict drilling in some federal areas
Economy
‘Renewable energy is 20 percent of Jordan’s power output’
Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable...
- Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable Energy Commission
- The Secretary-General called upon Arab nations to develop their own renewable energy industries rather than importing foreign technology
Economy
Energy security vital for economic growth, says Saudi minister
Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and...
- Saudi Arabia's finance minister says energy security is important for the economic growth and prosperity of the world
- The finance minister says energy supplies, economic development and climate change vital aspects of the world
Business
Oil uncertainty may stay for next five years: ExxonMobil CEO
ExxonMobil has taken a 6.25 percent stake in the expansion of Qatar's North Field, which contains the world's biggest natural...
- Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions.
- The CEO was speaking ahead of ExxonMobil's unveiling as the 4th global partner for Qatar's natural gas expansion.
Business
Lebanon inks gas deal with Egypt to enhance power supply
Lebanon's crumbling electricity sector has cost the country more than $40 billion since the end of its 1975-1990 civil war.
- Grappling with its worst-ever financial crisis, Lebanon launched talks with Egypt last year to import gas.
- Two years into Lebanon's economic meltdown, the state is struggling to purchase fuel for its power stations.
Economy
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...
- The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
- The strategy will help the country develop a diversified, self-sufficient and sustainable economy
Economy
UAE joins global clean energy partnership body
The partnership will enable access to a global hydrogen knowledge database and encourage cooperation with related initiatives and concerned entities.
- Joining the global initiative will support the UAE's long-term policies related to energy and hydrogen
- It will boost the UAE's stature as a leading contributor to the development of international policies related to hydrogen
Economy
China’s import of oil from Russia jumps 55% in May
The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month.
- The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month
- The number was also a spike from the 5.44 million tons China imported in May 2021
Economy
Inflation, subsidy reform hit stomachs in isolated Iran
Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion...
- Economic analyst Saeed Laylaz believes price growth in Iran has exceeded 40 percent annually since 2018
- In Tehran's marketplaces, attention is focused on the consequences and effects of inflation, rather than its causes
Geostrategy
Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during...
- Russia President Vladimir Putin and several Arab leaders stress on the importance of strengthening relations
- Relations in various fields -- including technology, food security and energy -- remain in focus during SPIEF 2022
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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
Latest News
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...
Geostrategy
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
Business
Prices for utilities, fuels rise 9 percent in June in Saudi Arabia
RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
Economy
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Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.
Economy
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
- The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
- Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024
Business
ExxonMobil to buy Denbury
ExxonMobil will acquire Denbury for $4.9 billion.
- The all-stock acquisition provides ExxonMobil with Denbury's carbon dioxide pipeline network in Texas, Louisiana and Mississippi.
- Oil companies have championed carbon sequestration as a major response to climate change.