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
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business
Business
Sabic to invest $1.37bn in UK
The investment is expected to improve operations at a UK plant.
- The company said that the investment will strengthen its operations
- England’s Prime Minister Boris Johnson appreciated the decision of investment
Geostrategy
Oil giant Saudi Arabia sees opportunity in climate crisis
Not only is the kingdom ramping up oil production, it is also making a major play for the trillion-dollar emerging...
- Saudi Arabia has promised to go carbon-neutral by 2060 and pledged more than $1 billion for circular carbon economy initiatives.
- Experts say Saudi Arabia has a strong stake in blue and green hydrogen production, solar production and in solutions in carbon capture and storage.
Geostrategy
UN calls for more climate adaptation cash from COP26
Climate adaptation means adjusting to the current effects of climate change and preparing for its predicted impacts in the future.
- The approach is crucial in developing countries, which are more vulnerable to extreme weather caused by climate change.
- The cost of adapting to climate change in developing nations could reach $300 billion in 2030, said UNCTAD.
Geostrategy
Saudi could go carbon-neutral before 2060: Minister
Prince Abdulaziz bin Salman said new processes enabling capture and reuse of carbon were key to the kingdom achieving net...
- The kingdom is promoting the circular carbon economy at the Future Investment Initiative conference in Riyadh.
- Saudi Arabia also has announced a $1 billion contribution to initiatives to fund the CCE and provide "clean" fuel for the world's poor.
Economy
Iran blames cyber attack as fuel supply hit
Details of the attack and its source are under investigation, state TV added, without giving further details.
- Details of the attack and its source are under investigation, state TV added, without giving further details
- Tuesday's disruption had an unprecedented impact because it blocked the IT system that allows Iranians to fill their tanks for free
Geostrategy
Saudi Arabia pledges more than $1 billion in ‘green era’ initiatives
Crown Prince Mohammed bin Salman announced two initiatives to fund the "circular carbon economy" and provide "clean fuel" to help...
- The "circular carbon economy", a concept promoted by the Saudis, aims to remove and store carbon for reuse in other products.
- Saudi Arabia has said it would join a global effort to cut emissions of planet-warming methane gas by 30 percent by 2030.
Science
Saudi minister: More investment in science and technology way to net-zero goal
Saudi Arabia's Minister of Communications and Information Technology Abdullah bin Amer Al-Swaha has said that the best way to achieve...
- Al-Swaha says pursuing current policies and technologies will lead to a gap of 30-40 percent in the zero-emission goal.
- Saudi Arabia is taking the lead in building a center for climate technologies in the MENA region, he said.
Science
Aramco sets 2050 net-zero target
The company acknowledged that this would have its challenges.
- Saudi Aramco chief Amin Nasser has said the company will achieve net-zero emissions by 2050
- He was speaking at the Saudi Green Initiative forum, where Saudi Arabia pledged to become net-zero by 2060
Science
Saudi Arabia eyes zero carbon emissions by 2060
At the Saudi Green Initiative forum, the Gulf country has also vowed to join a global effort to reduce methane...
- Saudi Arabia has announced plans to reduce carbon emissions by 278 million tons annually by 2030
- The country is also taking the Global Methane Pledge to reduce methane emission
Geostrategy
OECD nations to ban export credits for coal power
With the latest international climate conference just days away, the proposed ban will halt support to new coal power stations...
- For existing coal-fired power stations, the credits can only be used for pollution mitigation and carbon capture equipment that doesn't extend the service life of the facility.
- Coal is the dirtiest fossil fuel and is responsible for a major chunk of carbon emissions.
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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
Company News
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Markets rise on better-than-expected US growth
Market Report
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...
Business
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...
Economy
US to bolster presence in Gulf after Iran threat, says White House
The United States said it was sending reinforcements to the Gulf after what it called increasing harassment by Iran of...
Geostrategy
Most Read
Business
ADNOC inks pact with SeaOwl to design unmanned vessels
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...
- The innovative design of the vessel is likely to reduce carbon emissions up to 30 percent as the vessel will be lighter and smaller.
- The design for the 55 meters long vessel will allow the vessels to be operated from an onshore control room through a satellite link.
Business
Aramco’s plans to produce blue hydrogen ‘remain unchanged’
Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were...
- The energy giant denied reports that it has temporarily suspended plans to produce blue hydrogen.
- It targets to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030.
Business
ADNOC, Baker Hughes partner to boost green hydrogen development
Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology...
- ADNOC will leverage Baker Hughes’ extensive hydrogen expertize and broad portfolio to test and develop solutions to produce low-cost green hydrogen.
- Baker Hughes has been a longstanding strategic partner to ADNOC, deploying advanced technologies and solutions across the energy value chain.