Search Site

Trends banner

Energy

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Electric cars credited with lower CO2 emissions in US neighborhoods

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
  • Scientists at the University of California, Berkeley, say a network of sensors has logged a small drop in the volume of carbon dioxide.
  • Carbon dioxide is one of the main contributors to global warming, the human-caused phenomenon of rising temperatures.

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 Prime...
  • Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
  • In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.

Sheikh Hamdan praises ADNOC’s efforts in using AI in production process  

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
  • Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.
  • Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.

TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia 

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
  • They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
  • The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.

GCC leads the charge in global sustainability efforts

The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
  • The bloc is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and clean technology.
  • The EU's $3.6 billion climate tax on shipping pushes for greener maritime practices, while the environmental toll of war demands global accountability and swift action.

Geopolitical tensions boost oil, weigh on equities

Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
  • Moscow has escalated its aerial attacks on Kyiv, targeting key infrastructure in the wake of Ukrainian attacks on Russian oil facilities.
  • Russia is a key producer of oil, while the Gaza-Israel war has given rise to worries about Middle Eastern crude supplies.

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
  • The CEO acknowledged China's economic growth in recent decades, and expressed admiration for the country’s ability to overcome challenges.
  • He underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners.

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
  • Compared with the same period in 2022, imports decreased both in value (-34.2 percent) and in net mass (-11.7 percent).
  • Comparing 2023 with 2022, the value of energy products dropped by 35 percent, while the volume dropped by 9.4 percent.

OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye

VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...
  • The Development and Investment Bank of Türkiye (TKYB) will on-lend the funds to small and medium-sized enterprises.
  • This will help efforts to overcome the calamity’s impact and to promote a more resilient and sustainable agriculture sector.

Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid

Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
  • Unit 4 will add another 1,400 megawatts of clean electricity capacity to power the national grid, representing another significant step forward towards full-fleet operations
  • This further supports the UAE’s efforts in enhancing grid stability and energy security through abundant around-the-clock zero-emissions electricity

Demand for crude will continue to expand through 2050, says OPEC

In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...

Latest News

Fossil fuel demand is high in Central Eastern Europe. Here’s how it can make the energy transition

This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our...

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...

Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives

Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...

Most Read

Abu Dhabi’s private sector grows by over  35 percent in 2023

ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
  • Al Multaqa Meetings empower Abu Dhabi to accelerate economic growth, by providing a platform to support investment.
  • Supported by private sector and family-owned businesses, Abu Dhabi’s non-oil sectors is going from strength to strength.

Electric cars credited with lower CO2 emissions in US neighborhoods

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
  • Scientists at the University of California, Berkeley, say a network of sensors has logged a small drop in the volume of carbon dioxide.
  • Carbon dioxide is one of the main contributors to global warming, the human-caused phenomenon of rising temperatures.

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 Prime...
  • Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
  • In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.