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...
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...
COP28 UAE
Economy
Qatar, IAEA join hands for nuclear projects with peaceful uses
Qatar’s Ministry of Environment and Climate Change has said the projects will cover a variety of sectors, including the medical,...
- Qatar already has 35 technical cooperation projects with the IAEA, including 10 national, 23 regional, and two global projects
- These have been implemented through more than 10 different institutions from the country
Economy
Oil prices jump as unrest continues in Kazakhstan
Over the week, crude prices gained about 5 percent and on Friday Brent exceeded $83 per barrel.
- Kazakhstan is the largest oil producer in central Asia with a twelfth of the world's proven reserves, and produced around 1.8 million barrels a day in 2020
- The country is also the second largest oil producer in the OPEC+ group of top oil producers, behind Russia
Economy
Saudi Arabia GDP to gain in 2022: Kuwait Financial Center
Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth.
- Markaz’s report indicated that investments are expected to pick up as the government initiates major projects like Neom City
- Steady population growth, government subsidies, and the enacted mortgage law are enabling banks to finance home purchases, fueling the growth in the residential sector
Science
‘Ocean battery’ targets renewable energy dilemma
Amid the growing push away from climate-warming energy sources like coal, stockpiling green energy is key, experts say.
- Amid the growing push away from climate-warming energy sources like coal, stockpiling green energy is key, experts say
- Bliek's "ocean battery" relies on massive flexible bladders on the seabed, which are filled up with seawater by the wind farm
Business
SEWA implements development projects worth over $14.78m
The Central Region Department of the Sharjah Electricity, Water and Gas Authority (SEWA) implemented a number of development projects during...
- 80 projects have been implemented for network modifications and approximately 50 transformers are installed in the central region.
- Cables have been extended to implement these projects with up to 197,624 km of length, and the total cost of the projects is $14.78 million.
Geostrategy
Masdar and Manchester City to launch climate awareness campaign
Renewable energy company Masdar will become an official partner of Manchester City under an agreement that will see them collaborate...
- The campaign will coincide with the Masdar-hosted Abu Dhabi Sustainability Week from 15–19 January 2022.
- Masdar has a presence in almost 40 countries worldwide and plans to expand its global clean energy portfolio to more than 50 gigawatts by 2030.
Economy
Iraq acquires ExxonMobil share
The share was bought by Iraqi national oil company.
- The share was bought by Iraqi national oil company in the West Qurna field
- The field is one of the giant fields, the Iraqi oil ministry statement said
Economy
Iran supplies gas for domestic consumption despite challenges: Minister
The Oil Minister of Iran Javad Owji has said that his country has not faced the need to cut the...
- Iran used around 600 million cubic meters, around 100 million cubic meters in power generator stations, or its equivalent in gas oil, said oil minister Javad Owji.
- The country has not faced the need to cut the gas in any area despite decreased pressure problem, he said.
Economy
Kuwait to increase crude output by 27,000 barrels per day from Feb 1
Kuwait will increase its crude production by 27,000 barrels per day (bpd) to 2.6 million bpd from 1 Feb. 2022...
- With the fresh raise, which is in compliance with OPEC decisions, Kuwait's total production will reach 2.6 million bpd.
- OPEC+ has decided to proceed with a production hike of 400,000 bpd, keeping their current policy of slight monthly increases in output.
Economy
Jordan plans to improve energy efficiency in several sectors, says Minister
The minister also highlighted the Renewable Energy and Energy Efficiency Law, issued for this purpose, along with the terms and...
- The minister Kharabsheh emphasized the need of spreading national awareness by encouraging energy efficiency in the building sector
- During a meeting with the Plan’s work team, Kharabsheh said that the ministry is preparing the third National Energy Efficiency Plan
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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...
COP28 UAE
Company News
Equinor posts record profit
Business
Latest News
French firm ENGIE’s investments in UAE projects nearly $12 billion
Development and operation of the Mirfa 2 Reverse Osmosis Independent Water Project, and the running of six power and water...
Business
ADNOC, TAQA award $2.4bn project for sustainable water supply
Dubai, UAE -- ADNOC and Abu Dhabi National Energy Company (TAQA) Wednesday announced the award of a strategic investment project...
Business
Most Read
Economy
Saudi energy minister warns oil short-sellers ahead of OPEC+ meet
Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three...
- “I keep advising them that they will be ouching — they did ouch in April,” Prince Abdulaziz bin Salman said. “I would just tell them: Watch out!”
- Prince Salman said that a future source of energy cannot be tackled amid foggy vision. He had called OPEC+ to stick to its Oct 2022 agreement.
European energy crisis could worsen, warns Qatar minister
Doha, Qatar - Qatar's energy minister warned on Tuesday the "worst is yet to come" for Europe's oil and gas shortages,...
- "The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the economy," said Qatari Energy Minister
- "If the economy starts churning back up in (2024) and you have just a regular winter, I think the worst is yet to come," he added
Economy
Saudi Arabia to invest $3bn in three new solar projects
Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3...
- The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy
- These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households