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
Geostrategy
Iran, Venezuela ink 20-year deal on cooperation in Tehran
Iran and Venezuela signed a 20-year deal on cooperation between the two countries in various sectors including energy, financial and...
- The deal inked by Iran and Venezuela include energy, financial and defense
- From July 18 direct flights would operate between Caracas and Tehran
Business
EWEC to conduct 4th Clean Energy Certificates Auction
The CECs provide Abu Dhabi entities a pathway to achieve their desired sustainability goals by guaranteeing the zero-carbon origin of...
- The CECs provide Abu Dhabi entities a pathway to achieve their desired sustainability goals by guaranteeing the zero-carbon origin of their clean electricity consumption
- Also, the CECs offer entities a globalcompetitive edge by holding internationally recognised certificates that guarantees their green credentials.
Economy
UAE strengthens ties, strategic partnership with South Korea
The UAE Minister held a series of high-level meetings with government and business leaders in South Korea to strengthen bilateral...
- The UAE Minister held a series of meetings with govt leaders in South Korea
- The Minister held meetings with business leaders in South Korea
Geostrategy
Iran disconnects cameras at nuclear sites as IAEA set for censure vote
IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before...
- Iran said the disconnected cameras had been operating beyond the safeguard agreement between Tehran and the IAEA.
- European governments have expressed mounting concern over how far Iran has gone since the US reimposed sanctions.
Economy
UAE secures 32% of Japan’s crude oil needs in April
The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that...
- The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that month amounted to 87.59 million barrels
- Ninety three percent of this originated from seven Arab countries: UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, Oman and Algeria
Business
ENEC, KEPCO discuss cooperation in nuclear sector, ways to curb carbon emission
The Barakah Plant will help in the decarbonization of the power sector in the UAE and the Arab World
- ENEC, KEPCO discussed prospects for future cooperation and exploring the opportunities available in the nuclear energy sector
- The overall completion rate of the Barakah Plant is now over 97 percent and the first and second units are producing electricity
Business
Shell to build fuel stations in Saudi
Wafi will also operate car services for Shell Global in the kingdom.
- Shell Global is the largest operator of gas stations and car services in the world.
- Shell Global will transfer the latest expertise to Saudi to provide the latest technology.
Economy
OPEC to boost oil production as prices surge and EU bans Russian imports
Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring...
- Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they have done since May 2021.
- OPEC+ drastically slashed output in 2020 as demand slumped when the world locked down under the coronavirus pandemic.
Economy
OPEC debates oil output boost amid Russian isolation
Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the...
- The 13 members of the OPEC, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020
- They have increased output modestly to the tune of around 400,000 barrels per day each month since last year
Economy
Jordan’s oil expenditure up by nearly 50 percent in Q1 2022
Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...
- The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
- Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
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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
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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...
Business
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...
Geostrategy
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Geostrategy
Saudi Arabia should ‘review’ emissions targets: French minister
France's energy transition minister Agnes Pannier-Runacher left the world's biggest oil exporter early Sunday morning after meeting with her Saudi counterpart....
- Saudi Arabia pledged in 2021 to achieve net zero carbon emissions by 2060. Pannier-Runacher's trip came as the UAE prepares to host the COP28 climate summit.
- Largely state-owned energy firm Saudi Aramco, the kingdom's main revenue generator, is targeting "operational net-zero" carbon emissions by 2050.
Geostrategy
Libyan rival leaders to work together for oil income
TRIPOLI, LIBYA- Rivals in politically divided Libya have agreed to form a committee on sharing oil revenues, a move welcomed on...
- The UN Support Mission in Libya said the financial oversight committee's "inclusive approach" will help enable "a level-playing field for candidates in the polls.
- Ballots in Libya had been due in December 2021 but disputes including who should stand in the polls meant they were never organized.
Economy
Russia to cut oil output by another 500,000 bpd
Moscow, Russia - Russia on Friday confirmed the reduction of oil supplies to markets by 500,000 barrels daily in August...
- Earlier, Deputy Prime Minister Alexander Novak told reporters that Russia will slash oil supplies to markets in August through the reduction of exports
- Saudi Arabia and Russia have recently announced their decision to extend cuts to oil production in an effort to bolster global oil prices