INSEAD Day 4 - 728x90

Energy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

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

UAE President announces $30bn Global Climate Fund at COP28 meet

In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...

Geostrategy

ACME ammonia plant in Oman

The plant will cost of $3.5 billion and be built in three years.
  • The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy
  • This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons
Business

Iran to sell more electricity to Pakistan

Iran at the moment has electricity exchange with Armenia, Azerbaijan, Iraq, Turkmenistan, and Afghanistan.
  • Pakistan is all set to increase its electricity import from Iran to 70 MW
  • It will use this power at its under-development Gwadar port

Oman Shell updates SME training

The new program will build the capabilities of entrepreneurs.
  • Oman Shell has designed the program to ensure that it aligns with Shell’s social investment strategy and Oman Vision 2040
  • It takes into consideration the aspirations of its partners and entrepreneurs, while empowering entrepreneurs and Omani businesses

Qatar Petroleum begins expansion

It has awarded an contract to Madrid-based Técnicas Reunidas.
  • The expanded facilities will be utilized to handle liquid products from the four new LNG trains comprising the North Field East project
  • The facilities will also reportedly support two new LNG trains comprising the North Field South project
Business

Iran eyes Caspian Sea gas reserve for Europe supply

The exploration is being carried out by the Khazar Exploration and Production Company, or KEPCO.
  • The Chalous Superstructure Drilling and Exploration project is expected to be completed over the next couple of years
  • It will apparently be the second-largest natural gas block in the Caspian Sea, just behind the Alborz structure

Despite economic crisis, Lebanon to reopen schools

Rights groups have decried an “education catastrophe”, with more than a million children in Lebanon out of school since the...
  • Rights groups have decried an “education catastrophe”, with over a million children in Lebanon out of school since the country’s Covid-19 outbreak began in February last year
  • Other students are at risk of never returning due to a financial downturn that has seen poverty rates soar to reach 78 percent of the population

US oil prices soar

At 1355 GMT a barrel of WTI, the main US contract, for October delivery was 5.0 percent higher at $65.26...
  • At 1355 GMT a barrel of WTI, the main US contract, for October delivery was 5.0 percent higher at $65.26 dollars
  • The main international contract, Brent for October delivery was up 4.7 percent at $68.25
Geostrategy

Iran to get $300m Japanese loan to upgrade oil refinery

Japanese Foreign Minister Toshimitsu Motegi said this assistance would be in the form of low-interest loans.
  • The pledge was made during Motegi’s trip to Baghdad, the first by a Japanese foreign minister since 2006
  • The financial aid will be used to expand one of Iraq’s major refineries in Basra
Economy

Saudi Arabia set to build two 600MW solar plants

The plants will be built on land plots with a total area of 12 million sq m in Jeddah and...
  • The projects will be handled through the Saudi Authority for Industrial Cities and Technology Zones Modon
  • They are part of the country’s plan to generate 50 percent of its energy from renewables

Prices at pump soar in Lebanon after new subsidy cut

The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
  • The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
  • Dire shortages have seen Lebanon's people struggle to find enough fuel to drive to work

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

Company News

Latest News

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...
Science

MBM Holding, Portland Holdings ink MoU

Firms will work together on nuclear, renewable energy.
Business

Green groups sue Europe over false energy label

BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...
Science
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Europe’s largest nuclear reactor begins operation in Finland

The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...
  • Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
  • Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Economy

Iraqi government plans to reduce economy’s dependence on oil

BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...
  • The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
  • The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Economy

G7 climate ministers pledge to end plastic pollution by 2040

A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
  • The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
  • According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled