UAE’s ENEC signs MoU with TerraPower for nuclear-technology development
Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
COP28 UAE
50 oil and gas companies pledge to cut operational emission in COP28 meet
DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
COP28 UAE
Geostrategy
Iran discusses oil cooperation with China
Iran is hard pressed to sell its oil to countries across the world due to the sanctions placed by the...
- Iranian Oil Minister Ali Owji has met discussed ways to increase cooperation with the CNPC
- CNPC’s Middle East department deputy head Libin Zhang met Owji in Vienna on Thursday
Economy
Syrian oil spill moves away from northern Cyprus
Emergency workers tried to contain the spillage by roping it off with booms tossed from ships some 15 nautical miles...
- Emergency workers tried to contain the spillage by roping it off with booms tossed from ships some 15 nautical miles off the shore
- Turkey has already sent two ships to help contain and collect the spillage
Economy
Iran may see power-supply problems in winter
The Energy Ministry could face serious problems in meeting electricity demand in winter if power plants did not get fuel
- The Energy Ministry cannot reduce supply to the domestic sector in winter
- Therefore, it must supply liquid fuel to power plants in advance to keep up with demand
Business
Consortium awarded exploration rights for Abu Dhabi’s Block 5
ABU DHABI: The Abu Dhabi National Oil Company (ADNOC) on Tuesday awarded exploration rights for Abu Dhabi’s Offshore Block 5...
- The consortium will hold a 100 percent stake in the exploration phase.
- ADNOC has the option to hold 60 percent stake in production phase of the concession.
Business
HSBC offering Saudi’s first climate-focused investment fund
DUBAI: HSBC Saudi Arabia has said it is offering the first environmental initiative investment fund in the kingdom, which will...
- The fund will provide customers participation and direct access to investments that help reduce the impact of climate change.
- SABB’s Corporate & Private Banking clients among suitable clients in the kingdom.
Business
DEWA’s sustainability report out
It focuses on social, economic and environmental aspects.
- The 8th annual Sustainability Report 2020 focuses on DEWA’s efforts in promoting sustainability with its social, economic and environmental aspects
- The authority follows the best international practices as well as sustainable and integrated systems that ensure providing value-added services
Geostrategy
Climate change could turn Gulf cities unlivable
A new report by the UN's Intergovernmental Panel on Climate Change showed unequivocally that the climate is changing faster than...
- Daily temperatures in Dubai regularly top 40 degrees Celsius for several months of the year and are exacerbated by high humidity.
- Calls to reduce carbon emissions pose major economic challenges for oil and gas-rich Gulf countries.
Economy
Leaded petrol runs out of gas, says UN
Nearly a century after doctors first issued warnings about the toxic effects of leaded petrol, Algeria -- the last country...
- Nearly a century after doctors first issued warnings about the toxic effects of leaded petrol, Algeria -- the last country to use the fuel -- exhausted its supplies last month
- Even as recently as two decades ago, more than 100 countries around the world were still using leaded petrol
Economy
OPEC daily basket price stands at $70.75 a barrel
The price of the basket was $70.59 on August 25
- The price of the basket was $70.59 on August 25
- The OPEC Reference Basket of Crudes (ORB) is made up of oil producing countries
Geostrategy
Lebanese delegation to seek help from Syria, Jordan, Egypt
The delegation will discuss the possibility of receiving electricity from Jordan and gas from Egypt through Syrian territories.
- The delegation will include four ministers with different portfolios and some top officials from the Energy Ministry
- The date of the visit has reportedly not been set yet, but it is expected to happen very soon
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UAE’s ENEC signs MoU with TerraPower for nuclear-technology development
Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
COP28 UAE
Company News
Latest News
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...
Economy
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...
Business
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...
Economy
Most Read
Business
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
- DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
- The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
Science
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
- The UN chief highlighted the crucial relationship between humanity and the natural world.
- He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Science
EU uncertain over biodiversity protection despite okaying climate change laws
STOCKHOLM, SWEDEN - EU lawmakers this week adopted new laws boosting Europe's climate change fight, but a parallel drive to protect...
- Negotiations between the European Commission, EU member states and the European Parliament on the issue have run into difficulty over the details.
- Scandinavian countries are worried about forestry sector, while others believe the scope of the text proposed by the commission goes too far.