Search Site

Trends banner

Energy

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Putin launches Russian gas shipments to Uzbekistan

Moscow, Russia - Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for...
  • Despite being home to a wealth of natural  resources including gas, the Central Asian country of Uzbekistan has faced energy shortages.
  • Russian gas exports decreased by 21.5 percent in 2022 - as its largest buyer the European Union drastically reduced imports.

Dubai’s weeklong real estate transactions exceed US$2.5bn

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
  • The Dubai Land Department report showed that 248 plots were sold for US$476 million.
  • The DLS report said 1,197 apartments and villas were purchased for US$865 million.

Drought caused major global hydropower drop in early 2023

BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
  • Wind and solar generation grew more slowly in the first half of this year than in the same period last year.
  • The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.

Aramco’s Luberef resumes bitumen exports after 20 years

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
  • King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.
  • This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.

Middle East economic growth to fall in 2023, says World Bank

WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
  • The region’s gross domestic product is expected to fall to 1.9 percent in 2023 from 6 percent in 2022, due to oil production cuts.
  • The decline in growth this year is expected to be more pronounced in the oil exporting countries of the Gulf Cooperation Council.

ADNOC awards two contracts for Hail and Ghasha Offshore Development project

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
  • The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
  • The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.

Farmers turn to solar power in Syria’s former breadbasket

Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
  • Solar energy has offered a lifeline for the farmers amid drought and power shortages, but some warn the boom also has environmental costs in the once-fertile region
  • "We are trying to revive our land," despite dwindling groundwater reserves, said Mohammed, 38, as he oriented the panel towards the sun near his cotton fields.

Geopolitical changes derailed shift towards green energy, says IMF

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
  • IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
  • It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses

ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
  • The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
  • Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.

Qatar begins construction on North Field gas expansion

RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
  • There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
  • Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".

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...

Latest News

WEF24: AI stays at forefront of energy revolution

There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco...

KACST, ACWA Power sign pact

The aim is to develop technologies for clean energy.

Oil sees fluctuating prices, shifting output trends

The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.

Most Read

France flooded with applications for electric car leasing scheme

Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
  • Some 90,000 people have applied to the scheme since the start of the month, French Environment Minister Bechu said.
  • President Emmanuel Macron unveiled the plan on social media in December as part of efforts to reduce carbon emissions in France.

Shell halts Red Sea shipments over attack fears, say report

WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...
  • The worries of escalation grew after United States and United Kingdom strikes on scores of sites in rebel-held Yemen.
  • The Houthis have been targeting what they deemed Israeli-linked vessels, but after the strikes, they declared US and British interests "legitimate targets."

Turkish strikes leaves hundreds of Syrian villages without electricity

Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure,...
  • The Kurdish administration said Turkey launched a slew of strikes since Friday, mostly concentrated on infrastructure including power stations and oil refineries
  • The semi-autonomous Kurdish administration listed hundreds of villages and towns facing blackouts due to the Turkish strikes in a statement Monday