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

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

COP28 draft deal calls for ‘reducing’ fossil fuel production, consumption

The draft no longer mentioned a "phase-out". The text prepared under COP28 president Sultan Al Jaber, the head of the...

COP28 UAE
Geostrategy

Russia attack on Ukraine nuclear plant draws global ire

With fears growing of nuclear conflict, the US and Russian armed forces have set up a new direct phone line...
  • Ukraine has accused the Kremlin of ‘nuclear terror’, and US envoy to the UN said the attack was ‘incredibly reckless and dangerous’
  • Russia’s UN ambassador called accusations that Russian forces had shelled the plant part of ‘an unprecedented campaign of lies’
Economy

Gas prices soar to record highs as Ukraine crisis stokes supply fears

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia...
  • Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm.
  • Europe's London Brent North Sea crude leapt 4.7 percent to $115.63 per barrel, having surged to a 2012 peak close to $120 on Thursday.
Business

Middle East Energy opens next week, will focus on energy transition

Policymakers, business leaders, and industry experts from the energy industry will converge in Dubai next week to participate in Middle...
  • The speakers will also be participating in the Global Energy & Utilities Forum which will provide a platform for industry experts to discuss multiple subjects.
  • The event focuses on Transmission & Distribution, Smart Solutions; Renewable & Clean Energies; Backup Generators & Critical Power; and Energy Consumption & Management.
Geostrategy

Germany voices opposition to postponing Iran nuclear deal

Israel has said that regardless of any agreement that may be reached in Vienna, it would maintain full freedom to...
  • The latest round of negotiations to salvage Iran's 2015 nuclear deal started in late November
  • The deal, known as the Joint Comprehensive Plan of Action (JCPOA), secured sanctions relief for Iran
Economy

Biden says US will contribute half of 60 mn emergency oil barrel release

The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to...
  • The decision aims to "send a unified and strong message to global oil markets that there will be no shortfall in supplies," the IEA said in a statement earlier
  • The invasion came "against a backdrop of tight global oil markets, price volatility, commercial inventories that are at their lowest level since 2014," the statement said
Economy

Brent oil breaks $110 a barrel, WTI up 5% on Ukraine conflict

Brent crude broke above $110 a barrel on Wednesday and WTI was up more than five percent as Russia's invasion...
  • Brent climbed 4.88 percent to $110.09, while WTI was up 5.06 percent at 108.64
  • The conflict in eastern Europe came as prices were already soaring owing to tight supplies
Business

Shell to sell stakes In Gazprom

Action followed after Russia's invasion of Ukraine.
  • The announcement came after UK Foreign Secretary Liz Truss said more than 3 million Russian companies would be unable to access funding from London-based financial institutions
  • European football's governing body UEFA also ended its estimated 40-million-euro sponsorship deal with Gazprom
Business

Italy looks to Algeria to cover possible gas shortage

Italy imports around 95 percent of the gas it uses, and around 45 percent of that comes from Russia.
  • Russia last week invaded Ukraine, causing the United States and its allies to impose sanctions on Moscow
  • The conflict also sparked alarm among countries like Italy, which depend on Russia for their energy needs
Economy

DEWA completes Smart Grid Strategy short-term goals, installs 2m smart meters

Dubai Electricity and Water Authority (DEWA) has said it completed all short-term goals of its Smart Grid Strategy 2014-2035 as,...
  • Between 2015 and 2020, it replaced all electricity and water meters with smart meters, a deployment of over two million smart meters.
  • Between 2015 and 2017, DEWA fully automated its transmission network connected to the 400kV and 132 kV substations.
Economy

Oil and safe havens rally, ruble sinks on Russia sanctions

Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over...
  • Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine
  • Russian President Vladimir Putin's decision to send troops across the border last week has sent shivers through trading floors as investors fret over a protracted war

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

Company News

Latest News

Pakistan gets first Russian crude under discount deal: PM

Since Russia launched its invasion of Ukraine last year, economic sanctions have seen a significant cut in its oil and...
Economy

RTA signs strategic partnership agreement with Al-Futtaim Automotive

DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has signed a strategic partnership agreement with Al-Futtaim Automotive to deploy...
Business

SEWA, US delegation explore collaboration in innovation, sustainability

Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Iran’s Raisi, France’s Macron discuss ways to promote ties

Iran's President Ebrahim Raisi and his French counterpart Emmanuel Macron in a lengthy phone call discussed ways to promote ties,...
  • A 2015 nuclear accord between Iran and world powers gave the Islamic republic relief from international sanctions in return for curbs on its nuclear program.
  • In 2018 the United States withdrew unilaterally from the deal and reimposed sanctions, prompting Tehran to suspend implementing its own commitments.
Geostrategy

45 governments endorse doubling energy efficiency by 2030

PARIS, FRANCE -  Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of...
  • The meeting stressed as to how energy efficiency can help accelerate clean energy transition toward reaching net zero emissions by 2050.
  • The meeting underscored that effective policies must be fully leveraged to encourage behavior change among consumers and businesses.
Business

DEWA’s R&D Center develops technology to simulate leaks in water transmission pipes

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) ’s Research and Development (R&D) Center has developed an advanced, smart...
  • The center developed the facility using software and hardware, based on the concept of the Internet of Things (IoT).
  • Based on experimental data using the facility, the developed algorithm was able to identify leakage events with 94.4 percent accuracy.