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
COP28 host UAE braces for rising heat risk, targets carbon neutrality
As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
Geostrategy
Fossil fuel power demand has ‘peaked worldwide’
Electricity generation from fossil fuel has peaked worldwide as emerging markets are increasingly opting for cheaper renewable technology.
Fuelling troubles: Row puts Gulf powers on diverging paths
A public row between Saudi Arabia and the UAE has exposed the steadily diverging paths of once inseparable allies who...
Oil prices rise amid growing demand from India, China
Brent crude oil futures were up $1.43, 1.93%, at $75.55 Prices had dropped early in the week by the collapse...
Oil prices extend gains after OPEC+ talks fail, equities mixed
Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...
Disagreement between UAE, Saudi Arabia hobbles OPEC
The UAE on Sunday pushed back against a plan by the OPEC+ group to extend a pact to cut oil...
Iran’s only nuclear power plant back online
The plant was off-grid for two weeks, leading to power cuts in the country Officials blamed 'a technical fault' for...
UAE says it supports oil production increase in Aug
Seeks the OPEC+ decision to extend global supply pact deferred to another meeting OPEC's Joint Ministerial Monitoring Committee (JMMC) makes...
Solar panels power rebel-held Syrian areas
UNDP says at least 90 percent lack a stable power supply across Syria In rebel areas, there is little hope...
Sharjah varsity-led study points to cheaper, sturdier fuel cells for cars
A study led by the American University of Sharjah has claimed to have improved fuel cells for hydrogen-run cars that...
White House frets anxious about high oil prices
Jen Psaki says there is enough production capacity globally US crude production peaked in Jan 2020 at nearly 13m bpd...
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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
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
Company News
DEWA wins top award by UK based institute
Arts & Culture
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Iraq inaugurates oil refinery in Karbala to curtail imports
The minister said the refinery, built by South Korean firm Hyundai, can produce nine million liters of fuel a day...
Business
DEWA, Siemens discusses enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer discussed the latest advancements...
Business
UK warns against protectionism after US green energy subsidy
London, United Kingdom - Britain on Thursday warned against the threat of protectionism as it slammed the United States for leading...
Business
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Economy
Trends Poll: Saudi will reach net-zero first in GCC
Gulf countries have substantial financial and other resources to achieve zero- emission goals but they need to identity and address...
- The majority (59 percent) said Saudi Arabia will achieve the target first, followed by the UAE (24 percent) and Qatar (11 percent).
- Saudi Arabia, Qatar and the UAE account for around 10 percent of the world's annual CO2 collection at 3.7 million tons per annum (mtpa).
Economy
European Union deal to nearly double renewable energy by 2030
The provisional political agreement, which was reached after nightlong negotiations between the EU parliament and states, seeks to raise the...
- The move also comes as the EU has sought to slash its dependence on Russian fossil fuels after Moscow cut gas supplies last year.
- The figure is a compromise between the 45 percent share for renewables that was sought by EU lawmakers and the European Commission.
Business
Aramco seeks to become China’s all-inclusive energy, chemicals source
Beijing, China - Saudi Arabia's Aramco said it wants to be an all-inclusive source of energy and chemicals for China’s...
- Aramco CEO said the company is supplying new lower carbon products, chemicals and advanced materials, all supported by emissions reduction technologies.
- "In particular, we see a major win-win opportunity to build a world-leading, integrated downstream sector in China," he said.