Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
Business
Almost all oil and gas producers developing unneeded fields: NGO
Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas...
- The Global Oil and Gas Exit List (GOGEL) said that of the 700 companies that produce oil and gas, 96 percent plan to develop new fields
- The report said that 1,023 companies plan infrastructure projects for the transport of fossil fuels, such as pipelines and liquefied natural gas terminals
Business
Aramco produces first unconventional tight gas
Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first...
- Commissioned facilities at South Ghawar have a 300 million standard cubic feet per day (scfd) of raw gas processing capacity
- Work is also progressing at the giant Jafurah unconventional gas field, which is the largest liquid-rich shale gas play in the Middle East
Economy
China emissions to fall in 2024 on renewables jump
The country has been installing renewable energy capacity at breakneck speed, with new solar in 2023 alone amounting to twice...
- China is the largest greenhouse gas emitter and has brushed aside calls for a more ambitious carbon neutrality target
- IEA says the country is projected to account for 45 percent of global emissions from existing fossil fuel assets
Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
Business
EVIQ to set up infra for EVs in KSA
PIF, SEC JV's brand name for EV infrastructure is EVIQ.
- EVIQ will support electric vehicle adoption in Saudi Arabia by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs.
- This will help enable and encourage the use of electric vehicles across Saudi Arabia, in line with the sustainability goals of the Kingdom.
Economy
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
- The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
- Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage
Geostrategy
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.
- ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
- This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.
Business
DEWA Q3 2023 revenue $2.5bn
The revenue was driven by demand for electricity, water.
- For January-September 2023, DEWA’s consolidated revenue totalled US$6 billion with an operating profit of US$1.8 billion.
- By the end of Q3 2023, DEWA’s net cash from operating activities increased by a robust US$205 million to US$2.6 billion.
Geostrategy
Saudi urges leniency in climate change policies for low income nations
Riyadh, Saudi Arabia - Saudi Arabia said on Thursday that policies to address climate change should not "crush the bones" of...
- Climate change is "relevant and important" but "should not be attended to by crushing the bones and the future of the less (powerful) people," Prince Abdulaziz said.
- Prince Abdulaziz said on Thursday that attempts to provide financial support to countries affected by climate change had so far delivered poor results.
Interview
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
- Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
- She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
Company News
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QatarEnergy, Mitsui ink pact
Business
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...
Geostrategy
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...
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Geostrategy
Iran fires first ship-based long-range ballistic missiles
TEHRAN, IRAN - Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has launched long-range ballistic missiles from a warship...
- The Iranian military exercises come at a time of regional tensions since the outbreak of the Israel-Hamas war on October 7.
- Iran does not recognize Israel and has long fought a shadow war of killings and sabotage against it.
Economy
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...
- The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, the IMF chief said.
- She said that if there are other "consequences in terms of where the fighting goes, it could be more problematic for the world as a whole".
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
- The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
- He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.