UAE President attends Group of 77 and China meeting at COP28
DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
Geostrategy
Brazil to become OPEC+ member in 2024, says group
Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday. Brazil is among...
Business
Iraq, Lebanon sign deal to swap fuel oil for medical services
Under the deal, Lebanon will receive one million tonnes of fuel oil in exchange for "goods and services", a statement...
Africa Oil Week temporarily moved to Dubai for 2021 edition
The Hyve Group will shift Africa Oil Week 2021 to Dubai from the usual venue of Cape Town in South...
US mulls crackdown on Chinese imports of Iranian oil
The United States is planning a crackdown on Iranian oil sales to China in violation of its sanctions
Iran’s new oil terminal to bypass Gulf chokepoint
Tehran inaugurated Thursday the terminal in Jask, on the Gulf of Oman, allowing tankers to avoid the Strait of Hormuz...
Lebanon may not be able to handle next Covid-19 wave
A top hospital manager has said Lebanon’s medical facilities are unprepared for the next wave of Covid-19 cases
Turkey seeks change in UN climate change agreement
Turkey has sought a change in a UN climate framework so it won’t have to supply technology to developing countries
L&T wins contract for 132/11kV Dubai substation
L&T’s construction arm has won several orders in India and abroad, including one for a 132/11kV power substation in Dubai
Dewa, Stanford to build PV system at Al Maktoum Solar Park
Dewa and Stanford University will collaborate to develop an advanced system to forecast PV production at the Al Maktoum Solar...
Saudi Arabia wants to pump ‘every last molecule’ of oil
Energy Minister Abdulaziz bin Salman has said Saudi Arabia will pump out “every last molecule” of oil it has
DEWA, Stanford University system to boost production forecast at Al Maktoum solar park
The new system reduces errors in the forecast of photovoltaic production to less than 10 percent
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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
UAE President attends Group of 77 and China meeting at COP28
DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
Geostrategy
Company News
Sustainable digital shift in GCC need of the hour
YEARBOOK 2023
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SDF signs $240m loan pact for Pakistan hydropower project
Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand...
Business
DEWA, Siemens Energy discuss enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed enhancing cooperation...
Business
Iran working on key pipeline to supply gas to Oman
Reza Noshadi, who heads the National Iranian Gas Company’s engineering subsidiary, said that Iran will be able to export gas...
Economy
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Science
WMO urges more investment in integrated weather, climate services
GENEVA, SWITZERLAND - The global transition to renewable energy will require greater investment in integrated weather and climate services, the...
- This investment is critical to ensure that energy infrastructure is resilient to climate-related shocks.
- WMO is stepping up its activities to promote tailored weather and climate information, and forecasts.
Geostrategy
Oil cuts in interest of energy markets, says Russia
The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar...
- Saudi Arabia and other major oil producers announced Sunday a production cut of more than one million barrels per day.
- Russia said it would extend until the end of the year its own voluntary production cut of 500,000 barrels per day.
Economy
Major oil powers slash production ahead of OPEC+ meet
Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total...
- Russia, a member of OPEC+, said it was also extending its cuts of 500,000 bpd to the end of this year, calling it "a responsible and preventive action".
- The cuts were announced despite calls from the US to raise production as consumption rises and as China, the world's biggest oil consumer, reopens after its Covid shutdown.