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...
COP28 UAE
Business
Masdar to build Armenia’s largest solar plant on DFBOO basis
Masdar, a renewable energy company and a subsidiary of Mubadala Investment Company, will build a 200-megawatt solar photovoltaic (PV) plant...
- The plant will span over 500 hectares and will create a large number of direct and indirect jobs.
- The project company will be 85 percent owned by Masdar and the rest by the Armenian National Interests Fund.
Interview
UAE industries are embracing solar power
Al Bayader International, for example, has set up solar farms to offset energy costs and build sustainability, says Founder and...
- Companies want to decrease their carbon footprint and lower their electricity expenses
- As a result, they are increasingly installing rooftop solar farms to save on energy bills
Analysis
Energy prices may come down early next year
Consumption of natural gas rebounded fast — driven by industrial production — boosting demand at a time when supplies were...
- International energy prices will revert to more normal levels early next year when heating demand ebbs and supplies adjust, the IMF has said
- However, it has also warned that “if prices stay high as they have been, this could begin to be a drag on global growth”
Science
RAF claims world first flight using synthetic oil
Group Captain Peter Hackett completed a short flight in an Ikarus C42 microlight aircraft at an airfield in Gloucestershire, western...
- Britain's ministry of defense said it had the potential to save 80-90 percent of carbon per flight.
- The RAF is planning its first airbase to be net zero by 2025 and be carbon neutral across the service by 2040.
Geostrategy
12 universities attend 2nd Solar Decathlon Middle East inaugurated by DEWA
Dubai Electricity and Water Authority (DEWA) has inaugurated the 2nd Solar Decathlon Middle East (SDME) in which eight teams from...
- Eight teams from these varsities to design, build and operate solar-powered homes.
- The teams compete in 10 contests such as architecture, engineering and building, energy management and energy efficiency.
Economy
Crude fact: GCC set for big gains from high oil prices
In oil exporting countries, the fiscal deficits in 2020 will be replaced by large surpluses in 2021 and 2022, mainly...
- As oil prices rise, the oil-exporting countries in the MENA region - Saudi Arabia, the UAE, Kuwait, Qatar, Oman, Bahrain, Algeria, Iraq, Iran, and Libya - are likely to gain
- A rise in energy prices increases current account surpluses in Saudi Arabia by US$ 28.3 billion, in Iraq by US$ 11.6 billion, and in the United Arab Emirates by US$ 11 billion
Business
Middle East’s first waste-to-sustainable aviation fuel plant to come up in Abu Dhabi
Abu Dhabi Waste Management Centre (Tadweer) has signed an agreement with Etihad Airways to facilitate the development of the first...
- The plant can convert 4 million tons of municipal waste every year into 140 million gallons of fuel.
- The plant will help Abu Dhabi to divert 75 percent of municipal waste away from landfills.
Business
Alba seeks solar project bids
The solar farm should have a capacity of more than 5 MW.
- The last date for tender purchase is November 30
- The deadline for technical bid submission is January 31 next year
Analysis
Zero-carbon not the end of oil and gas
Some people conflate the target of zero carbon emissions with the notion that the era of oil, gas, coal, and...
- Carbon emission targets are sometimes misunderstood with the end of oil, gas, and coal
- Oil and gas are still the primary drivers of the global economy, and will continue to be so for decades
Geostrategy
Big gap between COP26 words and climate action
Finance is a crunch issue at the summit, with developing nations demanding rich emitters make good on decade-old promises to...
- That figure is a drop in the ocean compared to the estimated $4 trillion needed annually to decarbonize the economy by 2050.
- Experts say an accord by more than 100 nations to slash methane emissions by 30 percent by 2030 could have a real impact on short-term heating.
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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...
COP28 UAE
Company News
Latest News
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
Business
MENA region takes significant strides towards renewable energy, says Prince Albert II of Monaco
The Monaco prince commends the Saudi Green Initiative, Middle East Green Initiative and the upcoming COP in Dubai as "remarkable...
Interview
Russian oil exports hit post-invasion high, says IEA
PARIS, FRANCE - Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by...
Business
Most Read
Geostrategy
Iraqi Kurds await oil export renewal deal with Turkey
ARBIL, IRAQ- Officials in Iraqi Kurdistan say Baghdad is still waiting to reach a "final agreement" with Ankara to resume...
- Crude sales were Kurdistan's economic lifeblood, with 475,000 barrels exported daily via the Turkish port of Ceyhan.
- The suspension of exports represents a shortfall of around "one billion dollars", analyst Kovand Shirwani said.
Business
Dubai Supreme Council reviews progress in clean energy projects
DUBAI, UAE - Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th...
- The meeting discussed the progress of the Hatta hydroelectric power plant, which DEWA is building and is 70 percent complete.
- The meeting also discussed the operation of the region’s first green hydrogen production facility to support diversifying energy sources.
Economy
Global oil industry needs $12trn investments by 2045
Oil alone will make up almost 29 percent of the world’s energy needs by 2045, requiring an investment of over...
- OPEC member countries are ready to play a key role in providing energy to the world and in reducing emissions, Al Ghais said
- The oil industry, he said, needs a long-term, investment-friendly climate that works for producers and consumers