INSEAD Day 4 - 728x90

Energy

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

IEA boss says COP28 bid farewell to fossil fuels

PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to...

COP28 UAE

‘Nuclear solutions remain key to sustainable future’

“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...

Economy
Economy

Gulf countries warm up to waste-to-fuel plans

Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...
  • Solid waste management is one of the most critical challenges facing all GCC countries
  • Construction waste accounts for 53% of the total solid waste generated in the Gulf countries
Business

Iraq exports oil worth $11bn in March, a fifty-year record

Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid...
  • The figures published late Friday are preliminary data but final data "generally does not vary" much
  • Oil revenues are financially crucial for Iraq's government, with the country mired in a financial crisis
Economy

US allies agree to tap emergency oil reserves again

IAE repeated its warning that the prospect of large-scale disruptions to Russian oil production "is threatening to create a global...
  • A ministerial meeting of IEA chaired by US Energy Secretary decided to tap its emergency oil reserve fifth times since 1991 to calm soaring energy prices
  • IEA members had already vowed to release 62.7 million barrels of oil encouraged members to support Ukraine in the supply of oil products
Economy

Dubai summit highlights future to governments

This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...
  • The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
  • The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Business

Qatar to invest $5bn in Egypt, with an eye on offshore gas

The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration...
  • A Cairo statement said Qatar was to plough $5 billion in ‘investments and partnerships’ in Egypt, but did not give specifics
  • However, QatarEnergy announced an agreement with ExxonMobil to acquire a 40% interest in a gas exploration block off Egypt
Economy

Bolsonaro removes Petrobras president after surge in fuel price

Brazilian President Jair Bolsonaro decided on Monday to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna,...
  • In early March, Petrobras upped the price of gas by 18.8 percent and diesel by 24.9 percent
  • The ultra-right-wing Brazilian president has long criticized the pricing policy of Petrobras
Economy

Gulf region will boost global clean energy security: Al Kaabi

Mubadala’s UAE Investment chief Musabbeh Al Kaabi said on Monday that the Gulf region will play an increasingly important role...
  • Al Kaabi affirmed that governments must develop initiatives to mitigate supply chain challenges to meet net-zero carbon targets
  • He noted that global energy security will extend beyond oil as the UAE and its neighbours’ transition to become leaders in clean energy production
Geostrategy

Earth Hour: ENOC group stresses on lesser energy consumption

All service station forecourts including Service Station of the Future at Expo 2020 Dubai remained dark for an hour.
  • The ENOC group switched off non-essential lights at its headquarters on 26th March from 8:30 to 9:30.
  • ENOC saved a total of 11.9 GWh (or 11,963 MWh) of electricity in 2021, which is equivalent to 6,221 tCO2
Geostrategy

Sanctions on Iran’s revolutionary guards to stay despite nuke deal: US

Iran has been engaged in negotiations to revive the accord with Britain, China, France, Germany and Russia directly and the...
  • The Guards are on the list because of Iran's action supporting the Syrian government and Yemen's Houthi rebels.
  • The United States designated the Guards as a "foreign terrorist organization" under then-president Donald Trump in April 2019.
Geostrategy

Dubai saves 329MW of electricity during Earth Hour 2022

Dubai Electricity and Water Authority (DEWA) said about 329 megawatts (MW) of electricity were saved in the emirate during Earth...
  • The power saved is equal to a reduction of 132 tons of carbon emissions.
  • These savings are 13 percent higher than the 291 mw savings recorded during Earth Hour 2021.

IEA boss says COP28 bid farewell to fossil fuels

PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to...
COP28 UAE

Company News

Latest News

Libya’s east-based government threatens to block oil exports

Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
Economy

Aramco, TotalEnergies to construct petrochemical unit in Saudi Arabia

Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two...
Business

Siemens Energy shares fall due to technical problems at wind turbine unit

FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Science

FANR highlights cybersecurity framework of Barakah nuclear plant in meeting

VIENNA, AUSTRIA - The Federal Authority for Nuclear Regulation (FANR) is taking part in an international conference organized by the...
  • In the event participants from 94 countries and seven global organizations discuss measures to protect against cyber-attacks on nuclear facilities.
  • UAE's nuclear regulation body has carried out regular inspections of Barakah Power Plant and observed exercises to test the efficacy of cybersecurity plans.
Business

ADNOC L&S gets new VLCC

VLCCs carry almost 2 million barrels of crude per voyage.
  • The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas
  • ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.
Economy

Oman’s economic growth to reach 2.7 percent in 2024, says IMF

MUSCAT, OMAN - Oman’s economic growth is expected to rebound to 2.7 percent in 2024 but will slip in 2023...
  • The projections reflect the oil production cuts by OPEC+, moderate growth in the non-hydrocarbon sector and a slowdown in global economic activity.
  • Oman's real GDP rose by 4.3 percent in 2022, basically on an expansion of the hydrocarbon sector.