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...
COP28 UAE
Business
Kuwait starts 100,000 bpd oil-gathering center
Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.
- A gathering center is a facility that collects oil from a field to be transferred usually by pipelines
- This gathering center is formally referred to as GC-31 and is located in in northern Kuwait
Business
Dragon Oil to double output by 2026
Dragon Oil to double output by 2026
- The company is eying new developments in Turkmenistan, Iraq, and Egypt
- It achieved a positive performance in 2020, and continued to maintain steady annual growth in 2021
Business
UAE has advantage in leading global hydrogen market: Report
DUBAI: The UAE has the foundations and competitive advantages to become one of the largest producers of low-carbon hydrogen in...
- UAE’s strong infrastructure, export facilities, geographic location key advantages.
- ADNOC is already a producer of over 300,000 tons per year of hydrogen in its downstream facilities.
Business
Johnson Controls to build Dubai RIT’s sustainable campus
The company has partnered with Dubai Silicon Oasis Authority for energy optimization and efficiency of the campus.
- RIT Dubai aims to attract students and faculty committed to building a net-zero economy.
- More than 1,000 students can learn from the company's AI solutions.
Business
Adnoc eyes 2GW hydrogen growth
Adnoc has inked deals with British Petroleum and Masdar for this.
- Under the terms of the agreements, Adnoc, BP, and Masdar will on UK and UAE clean hydrogen hub development
- This development will be at an initial scale of 1GW in the UAE and 1GW in the UK
Geostrategy
First Iranian fuel deliveries reach Lebanon
Lebanon has been without a government for more than a year, and the main priority of Prime Minister Najib Mikati's...
- The first Iranian ship with fuel reached the Syrian port of Baniyas earlier this week
- The cargo was offloaded there and trucked to Lebanon, the first of several planned deliveries
Analysis
The Grand Renaissance Dam: Egypt’s Nile nemesis
Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.
- Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
- Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.
Economy
Oil demand to top pre-pandemic level next year: OPEC
The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering...
- The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering demand
- The OPEC's output rose by 151,000 barrels per day during August to hit 26.76 mbd
Business
Apicorp to allot $1bn for green energy
The bank will make the investment over the next two years.
- Currently, green assets comprise more than 13 percent of the bank’s overall portfolio
- This is equal to around $550 million in loans and direct investments
Business
Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...
- Saudi Arabia was planning to sell 60 percent stake in the Ras Al Khair plant and raise $2 billion
- However, bidders backed out after considering several factors, including the plant’s age and its waning technology
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Company News
Carbon pricing standards key to boost green energy
World Economic Forum
Latest News
Energy security key driver of climate investments
World Economic Forum
BP back in Q1 profit
In Q1 2022, BP posted its biggest loss ever at $20.4bn.
ADNOC and TotalEnergies sign agreement to export LNG globally
Abu Dhabi, UAE - ADNOC Gas announced Monday a three-year supply agreement with the TotalEnergies Gas and Power Limited for...
Business
AD Ports Group purchases bulk carriers, crude oil tankers
ABU DHABI, UAE - AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
Business
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Business
DEWA keen to enhance happiness in work environment, says CEO
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
- "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
- "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
- Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
- AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Economy
IEA’s call to halt oil investments will hurt market
His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output...
- OPEC Secretary General Haitham Al Ghais has cautioned IEA against discouraging oil investments crucial for global economic growth
- Russia's Deputy PM Alexander Novak says the OPEC+ group, comprising leading oil producers, sees no need for further output cuts