INSEAD Day 4 - 728x90

Energy

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Masdar City completes first net-zero energy commercial building in region

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed...
  • NZ1 is designed to consume 53 percent less energy than an equivalent conventional building.
  • Solar panels will generate 101 percent of the building’s annual energy needs, making it net-zero energy.

Oil slides further after OPEC delay as Asian stocks struggle

Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would...
  • Riyadh and Russia unveiled massive cuts earlier this year in a bid to boost prices
  • Many experts believe global supplies were healthier than expected

Indonesia unveils plan to bring $20bn energy investment from West

Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable...
  • The roadmap, which comes less than two weeks before the COP28 summit in Dubai, outlines Jakarta's vision to reach net-zero power sector emissions by 2050.
  • Under the plan, Indonesia will seek to slash its carbon dioxide emissions to 250 million metric tons for its on-grid power sector by 2030.

Earth to warm up to 2.9C even with current climate pledges, says UN

PARIS, FRANCE -  Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
  • The UN Environment Program's annual Emissions Gap report is released just ahead of crucial COP28 climate talks in Dubai .
  • Taking into account countries' carbon-cutting plans, UNEP warned that the planet is on a path for disastrous heating of between 2.5C and 2.9C by 2100.

ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority...
  • The second phase is part of a 950 MW solar CSP independent power project, the company said .
  • The financial impact from the full capacity (950 MW) is expected to show starting from the first quarter 2024.

Norwegian firm expects first cross-border transport of CO2 in 2025

Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
  • Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
  • Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.

Gaza conflict casts shadow on Israel’s gas industry

War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
  • The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
  • The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan

Adoption of electric vehicles in US face infrastructure hurdles

NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
  • Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
  • The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines

UAE’s FANR grants operating license for unit 4 of Barakah Nuclear Power Plant

Dubai, UAE - The Federal Authority for Nuclear Regulation (FANR), serving as the UAE's independent nuclear regulatory body, has officially...
  • The UAE Nuclear Programme will play a key role in providing 25% of clean energy
  • UAE adheres to international conventions and agreements on nuclear transparency

Tabreed 9M profit at $218m

This is due to the steady growth in its consumption volumes.
  • Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
  • This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.

UAE leads solar energy growth with strategic projects

Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...

Latest News

GCC, OPEC boost ties to stabilize global oil markets

During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...

Europe’s gas demand at 10-year low, to peak in 2025: report

The invasion of Ukraine by Russia triggered a massive shift by European nations away from Russian natural gas delivered by...

Dutch court upholds $50bn payment award in Yukos case

THE HAGUE, NETHERLANDS -  A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Qatar minister urges Gaza ceasefire to end Red Sea insecurity

The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
  • Many companies have chosen to divert their vessels to avoid the Red Sea
  • US and UK strikes on Houthi targets have failed to halt the rebel attacks

Roadmap out for environmental education, sustainable development at WEEC2024

ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...

QEWC 2023 net profit US$426m

QEWC market share in supply of electricity was 61 percent.
  • The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
  • QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.