ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
COP28 UAE
Business
Adnoc Drilling eyes $86m rigs
Adnoc, Adnoc Drilling, and H&P have formed an alliance for this.
- The rigs are expected to be delivered and commissioned in stages over a 12-month period
- The process is subject to acceptance upon successful completion of a final inspection on customary terms and conditions
Business
Mubadala Petroleum, Eni partner for energy transition
The scope of the cooperation covers potential joint opportunities in Mena, South East Asia, Europe, and other regions of mutual...
- The MoU aligns with Mubadala Petroleum’s approach to Environmental, Social & Governance ESG considerations and its energy transition goals
- This includes pursuing a gas-weighted portfolio strategy that has seen the company’s asset base reach almost two-thirds natural gas
Business
UAE-led consortium gets $250m for gas plant in deal with DFC
The consortium, called Pearl Petroleum Company Limited, is led by Dana Gas and Crescent Petroleum, both of which are from...
- Pearl Petroleum’s financing from DFC is expected to boost its work at the Khor Mor gas plant in the Kurdistan Region of Iraq
- Proceeds from the seven-year financing are expected to support an increase in gas production capacity at the plant by 50 percent
Science
Aramco to partner with Aveva for sustainability
Aramco, with this partnership, will focus on driving sustainability in the region through digital transformation.
- The partnership will help Aveva establish its largest digital hub, with R&D capability, in the Middle East
- It will also enrich Saudi Arabia’s knowledge economy by incorporating research from prominent universities across the kingdom
Economy
Power cuts stall industrial revival in Syria’s Aleppo
The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
- The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
- Syrians in government-held areas have had to adapt their lives at home and work around power cuts of up to 20 hours a day
Economy
Iran gives free electricity to 10m users
This happened as part of a program aimed to change the attitudes of household consumers towards the proper use of...
- This is part of the Power of Hope program, which entails rewarding efficient subscribers with a 100 percent discount on their bills
- The Iranian Energy Ministry program has reduced the number of high-consuming subscribers across the country by 6.1 percent
Business
TotalEnergies inks $27bn deal to power Iraq
The French firm, formerly called Total, will now build four power projects in Iraq.
- Iraq said this was the largest investment in Iraq by a Western company
- Iraq has immense reserves of oil and gas, but is facing an acute power crisis despite that
Geostrategy
Syria agrees to help Lebanon get gas, electricity
The country has said it is ‘ready’ to help Lebanon with ‘transit for Egyptian gas and Jordanian electricity via Syrian...
- Lebanon’s fuel shortage has reached such proportions that millers have warned they might have to stop making bread
- Meanwhile, Unicef has said 4 million Lebanese could lose access to water as pumps run out of fuel
Analysis
GCC can help shipping industry curb emissions
Saudi Arabia and the UAE are already off the starting mark in their efforts to supply alternative fuels to the...
- Hydrogen requires high-pressure tanks when stored as a gas or temperatures of -253°C when stored as a liquid
- Ammonia can be used as marine fuel as the conversion process is economical and involves little fuss
Business
Tehran able to sell oil despite US sanctions, says minister
The US imposed its harshest sanctions on Iran three years ago as Washington, under President Donald Trump, unilaterally abandoned an...
- One of the ways to do this is to swap oil for goods or investment
- This potential solution can also be used in other sectors and industries
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business
Company News
Energy security key driver of climate investments
World Economic Forum
Latest News
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
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...
Business
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...
Most Read
Business
EU agrees to boost use of green aviation fuel to cut emissions
Aviation emissions in Europe were on an upward curve of around five percent per year between 2013 and 2019, dropping...
- European Union is eyeing a net carbon-neutral future, and the decision to use sustainable fuel is a step towards it.
- "This agreement provides certainty for the SAF (sustainable aviation fuel) industry and airlines alike," said an official
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Business
China leads in transition from petrol to EVs
According to the China Association of Automobile Manufacturers, electric vehicles made up 25 percent of car sales in the country...
- Government support for EVs and growing interest from a vast consumer base has assured Chinese companies' dominance.
- Despite a downturn across the global auto sector, an official said EVs' market share in China could increase to over 40 percent in 2023.