EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
Middle East oil policies not dictated by US, says Russia
MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...
Geostrategy
Business
ENEC, Kazatomprom ink pact
The move will ensure a secure supply of nuclear fuel.
- ENEC's global partnerships will support the continued rapid decarbonisation of the country's heavy and energy-intensive industries.
- This will create further clean energy sources while using the latest technologies and helping to deliver Net Zero by 2050.
Business
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
- The G2COOL plant produces naturally occurring hot water found underground through two geothermal wells.
- The hot water is fed into absorption cooling technology to produce the chilled water needed by Tabreed for its district cooling activities.
COP28 UAE
UAE’s ENEC signs MoU with TerraPower for nuclear-technology development
Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
- ENEC and TerraPower will collaborate across various areas, including technical design and commercial viability of the TerraPower Natrium technology development
- The MoU will look to jointly accelerate the commercialisation and global deployment of Natrium technology under licensing agreements with TerraPower
Economy
Innovations spur Qatar’s petrochemical sector growth
"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...
- Qatar's petrochemical industry sees continuous growth since QAPCO's establishment.
- QatarEnergy and Chevron Phillips join hands to build two massive ethane cracking units.
Business
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
- QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
- The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.
COP28 UAE
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
- The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
- The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
COP28 UAE
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
- Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
- COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time
COP28 UAE
50 oil and gas companies pledge to cut operational emission in COP28 meet
DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
- The charter is part of a set of initiatives designed to accelerate the decarbonization of the global energy industry.
- They are voluntary commitments unlike the decisions of COP28, which are taken by consensus between nearly 200 countries.
Geostrategy
UAE President attends Group of 77 and China meeting at COP28
DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
- The UAE President expressed the country's commitment to enhancing global cooperation to achieve the ambitious goals set for COP28.
- These include accelerating the shift to a sustainable, low-carbon and economically robust model to deal with climate change.
COP28 UAE
Over 20 nations call for tripling of nuclear energy
The other countries that signed up to the declaration include Britain, Bulgaria, Canada, the Czech Republic, Finland, France, Hungary, South Korea, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, ...
- A declaration endorsed by nations ranging from the US to Ghana to Japan and several EU countries said nuclear energy plays a "key role" in reaching the goal of carbon neutrality
- The use of nuclear energy as a cleaner alternative to fossil fuels is controversial as environmental groups are concerned about safety and the disposal of nuclear waste
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
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Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
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...
Geostrategy
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Economy
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...
- The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, the IMF chief said.
- She said that if there are other "consequences in terms of where the fighting goes, it could be more problematic for the world as a whole".
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
- The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
- He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.
Economy
UN COP29 host Azerbaijan sees a big boom in gas production
Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels,...
- Patrick Galey, of Global Witness, said that Azerbaijan is ramping up its gas production when the world urgently "needs to kick its fossil fuel habit"
- According to Eurostat, Europe, to replace Russian gas, turned to Azerbaijan, whose share of imports grew from 2 percent in 2021 to 4 percent in 2023