Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
Economy
Geostrategy
Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war
OTTAWA, CANADA — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
- The quietly planned meeting focused on ways countries could help efforts to secure peace for Palestinians and Israelis.
- The group is not a joint peace project with Israel, and says its leaders aim to speak on behalf of Arab and Muslim people people.
COP28 UAE
UAE leads global renewable energy drive: IRENA envoy
The UAE plays a pivotal role as IRENA headquarters and key renewable energy hub, Dr Nawal Al Hosany, the permanent...
- The UAE plays a pivotal role as IRENA headquarters and key renewable energy hub, Dr Nawal Al Hosany, the permanent representative of the UAE to IRENA, tells TRENDS.
- The ongoing COP28 aims to deliver an ambitious energy package, targeting significant increases in renewable capacity and energy efficiency by 2030, Al Hosany adds.
Business
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
- The white paper calls for a dialogue between the industry and community groups and NGOs to define common standards for a people-positive energy transition.
- It also urges governments to not only focus on the lowest price but also the wider societal value creation in their transition plans.
Geostrategy
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
COP28 UAE
COP28 draft agreement includes option to do nothing on fossil fuels
The fate of oil, gas and coal is the thorniest issue being thrashed out at the COP28 UN climate talks...
- The draft of global climate agreement forms the basis of negotiations that will unfold in coming days, with a final text expected in theory by December 12
- It is a formal response to the "global stocktake", a damning report card published in September that highlighted how little the world had done to confront the climate crisis
COP28 UAE
Saudi Arabia spurns fossil fuel phaseout push at COP28
A tentative "phasedown/out" was included in a first draft of an agreement on climate action that delegates are haggling over...
- UN chief called for a total phaseout of fossil fuels, warning "complete disaster" awaits mankind
- Saudi Arabia has revamped its energy sources, invested in renewables and improved energy-efficiency
Geostrategy
Masdar City to construct region’s first net-zero energy mosque
Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a...
- The mosque’s total energy requirements were reduced by 35 percent compared to international baselines using passive design
- Low-flow water fixtures, drought-resistant landscaping, and the use of recycled water for irrigation will reduce water use by 55 percent
COP28 UAE
We respect climate science, says COP28 head
DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
- Sultan Al Jaber also repeated his past statements that a phase out of fossil fuels was "inevitable".
- He acknowledged that global greenhouse gas emissions must be cut by 43 percent by 2030.
Geostrategy
Saudi energy minister calls Western climate pledges ‘small change’
"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
- The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
- The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
Company News
QEWC 2023 net profit US$426m
Business
Latest News
Dutch court upholds $50bn payment award in Yukos case
THE HAGUE, NETHERLANDS - A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
Geostrategy
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
Geostrategy
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Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Geostrategy
Saboteurs hit Iran pipelines disrupting gas supply: state media
The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in...
- State media reported that the sabotage had disrupted gas supplies in at least three provinces -- North Khorasan in the northeast, Lorestan in the west and Zanjan in the northwest
- No group claimed responsibility for the attacks and Iran did not immediately apportion blame, although Iran has generally blamed Israel for similar acts of sabotage in the past
Geostrategy
Iran fires first ship-based long-range ballistic missiles
TEHRAN, IRAN - Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has launched long-range ballistic missiles from a warship...
- The Iranian military exercises come at a time of regional tensions since the outbreak of the Israel-Hamas war on October 7.
- Iran does not recognize Israel and has long fought a shadow war of killings and sabotage against it.