From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
YEARBOOK 2023
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
Business
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
Geostrategy
Facing gas ‘blackmail’ by Russia, EU turns to Israel
The European Union wants to strengthen its energy cooperation with Israel in light of Russia's use of gas supplies to...
- Moscow's conduct "only strengthens our resolve to break free of our dependence on Russian fossil fuels," she said
- Israel is estimated to have gas reserves of at least one trillion cubic metres, with domestic use over the next three decades expected to total no more than 300 bn
Economy
Food security main agenda of UAE delegation in Netherlands
A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
- The UAE delegation shared their wide range of expertise with their Dutch counterparts
- The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Geostrategy
Sharjah, Costa Rica strengthen economic, cultural relations
Sharjah is building on the long-standing historical ties the emirate shares with Costa Rica to bolster and deepen diplomatic and...
- The strong relations between Sharjah and Costa Rica are serving as a base for enhancing economic cooperation
- The two sides can benefit through the mutual exchange of expertise in industries, culture, science, technology and economy
Economy
Turkey constructs Black Sea pipeline to pump natural gas
Turkey's president hailed on Monday the start of the construction of an underwater pipeline to tap a Black Sea natural...
- Sakarya gas field of Turkey could produce 10 million cubic meters by the first quarter of 2023, Erdogan said
- He described it as "the largest natural gas field in Turkey's history", citing estimated reserves of 320 billion cubic meters
Economy
Germany, UAE can jointly invest in ‘new economy’, says top diplomat
Germany and the UAE as strong economic partners will continue trade but they can make joint investments in the 'new...
- Germany and the UAE as strong economic partners will continue with their trade in the traditional economy
- Both the countries can make joint investments in the 'new economy' that will help achieve their net-zero targets
Economy
US gasoline average price tops $5 per gallon in historic first
The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day...
- The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day earlier
- Adjusting for inflation, the US gasoline average is still approximately 8% below June 2008 highs around $5.41 a gallon, according to US Energy Department figures
The Archives
Kuwait’s oil ministry completes digital archive project
Kuwait's oil ministry project digitalized the country's oil archive making all documents, photos, books and magazines easily accessible
- The ministry's project digitalized Kuwait's oil archive making all documents, photos, books and magazines easily accessible
- All the documents could be accessed via the ministry's official website in both Arabic and English
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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
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
YEARBOOK 2023
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
Most Read
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.