Iran asserts peaceful nuclear agenda amid western concerns
Tehran, Iran - Iran's nuclear program remains peaceful, said Nasser Kanani, the spokesman for the Iranian Ministry of Foreign Affairs,...
Geostrategy
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
Market Report
Economy
‘US$50bn investment a milestone in UAE’s climate action efforts’
The announcement by the President to invest an additional US$50 billion for climate change is a milestone in UAE'S efforts...
- The announcement by the President to invest an additional US$50 billion for climate change is a milestone in UAE'S efforts
- The amount will be utilized to scale up climate action efforts through the deployment of clean energy solutions in UAE and abroad
Economy
9 licences issued over 13 years for Barakah Nuclear Power Plant: FANR report
The FANR has received 11 international review missions led by the International Atomic Energy Agency (IAEA)
- The FANR has received 11 international review missions led by the International Atomic Energy Agency (IAEA)
- The report says the UAE is a party to over 13 international conventions, including 'The Comprehensive Safeguards Agreement'
Business
Gazprom defends gas cuts as energy prices soar
Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany...
- Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany and Italy
- Italian energy giant Eni also reported problems, saying it will receive only 65 percent of the gas requested Thursday from Gazprom
Economy
Fuel prices hit record highs in Morocco
Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy...
- Morocco has seen months of rising prices and growing calls for caps on energy firms' profits
- The government has so far refused to reinstate fuel subsidies removed in 2015, but has doubled its budget for subsidising cooking gas
Business
Iraq settles $1.6 billion payment of Iranian gas imports
The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.
- Baghdad had been scheduled to pay that amount to Tehran before the start of June.
- Tehran has repeatedly cut off gas supplies to force Baghdad to pay off its debts.
Business
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...
- The report provides information on Aramco's efforts to support the broader energy transition
- Aramco expects to update the sustainability report on an annual basis
Business
Israel, Egypt to export gas to EU in its bid to cut Russian imports
Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of...
- The memorandum of understanding on gas exports between Egypt, Israel and the EU was signed at the East Mediterranean Gas Forum.
- Under a $15 billion deal in 2020, Israel already exports gas from an offshore field to Egypt, where it is liquefied and shipped to Europe.
Business
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...
- Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
- Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
Economy
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...
- Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
- The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Geostrategy
Iran believes negotiations can still revive nuclear deal
Iran on Tuesday said it still believes that negotiations can succeed to revive the 2015 nuclear deal with world powers,...
- Earlier, Iran disconnected 27 cameras from its nuclear sites in response to the IAEA resolution censuring Iran
- Iran's demand of Washington to remove Revolutionary Guards from the terrorism list is an extraneous issue to JCPOA, according to US
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Iran asserts peaceful nuclear agenda amid western concerns
Tehran, Iran - Iran's nuclear program remains peaceful, said Nasser Kanani, the spokesman for the Iranian Ministry of Foreign Affairs,...
Geostrategy
Company News
Latest News
Sweltering heat leaves Gulf residents at risk during noon
DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a...
Arts & Culture
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
Business
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Business
Algeria firm sign $740m contract with TotalEnergies
Algiers, Algeria - Algeria's state oil company Sonatrach said on Sunday it had signed contracts to boost gas production under an...
- The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in Europe
- They also signed "a memorandum of understanding in the field of energy transition and renewable energies", it added
Business
4 bids for Al Ajban power project
There will be a process to select the best proposal.
- Al Ajban Solar PV is EWEC’s third world-leading solar power project.
- Abu Dhabi is home to world’s three largest single-site solar power plants.
Geostrategy
Pro-Iran parties urge Iraq to clear energy dues with Tehran
BAGHDAD, IRAQ - A powerful alliance of pro-Iran factions in Iraq called on Sunday on Baghdad to pressure the United States...
- Iraq, ravaged by decades of conflict and international sanctions, relies on gas imported from its eastern neighbor for a third of its energy needs.
- To reduce their dependence on Iranian gas, Iraq has been exploring several possibilities including imports from Gulf countries like Qatar.