Search Site

Trends banner

Energy

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

MOCCAE and Tadweer sign MoU to launch ‘Waste to Zero’ initiative

Abu Dhabi, UAE -- UAE's Ministry of Climate Change and Environment (MOCCAE) and Abu Dhabi Waste Management Company (Tadweer) have...
  • The initiative is part of the Year of Sustainability and UAE's preparations for hosting the Conference of the Parties COP28.
  • The initiative aims to strengthen the UAE's role in leading global action and contribute to international efforts to achieve the 43% emission reduction target by 2030.

World can’t ‘unplug’ existing energy system: COP28 head

Riyadh, Saudi Arabia - The president of the upcoming COP28 climate talks in Dubai called on Sunday for governments to abandon...
  • Climate activists have criticized the appointment of Jaber to lead the COP28 talks which kick off in Dubai next month, given that he is also head of the oil firm ADNOC.
  • But Jaber has garnered the support of COP parties including US climate envoy John Kerry, partly by emphasising his belief that "the phase-down of fossil fuels is inevitable."

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

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...

Latest News

Iran and Turkey to utilize modern tech for electricity exchange

Tehran, Iran - Iran and Turkey are set to enhance their electricity exchange capabilities through the implementation of modern technology,...

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.

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...

Most Read

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.
  • The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
  • OPEC+ continues to dynamically adjust production, with US output reaching a record high and global demand growth led by non-OECD regions.

Clean energy largest driver of Chinese GDP growth in 2023: report

China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
  • Investment in "clean-energy" sectors accounted for 40 percent of China's GDP expansion last year, researchers at the Finland-based CREA said
  • The researchers examined investment in solar power, electric vehicles, energy efficiency, railways, energy storage, electricity grids, wind, nuclear and hydropower

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.