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...
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...
Economy
Geostrategy
OPEC sees no peak in global oil demand on the horizon
In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million...
- According to OPEC, whose 13 member states include Saudi Arabia, the Gulf states and Venezuela, oil demand will be driven by emerging and developing nations.
- OPEC also backed developing technological solutions to reduce emissions, such as carbon capture and storage.
Economy
Saudi Arabia explores carbon capture, storage potential
“Achieving success in this area will benefit everyone and align with the goals of the Paris Climate Agreement,” he adds...
- The Kingdom can be a source of clean hydrogen and a producer/source of clean electricity, says Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud
- Saudi Arabia has adopted a comprehensive approach harnessing potential for renewable energy, hydrogen production, and electricity transmission, the minister adds
Geostrategy
Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen
RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
- The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Arabia.
- The MoU was signed by Saudi Arabia’s Minister of Energy and India’s Minister of Power and New and Renewable Energy.
Geostrategy
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."
Geostrategy
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.
Business
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.
Science
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.
Business
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.
Economy
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.
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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...
Company News
KACST, ACWA Power sign pact
Business
Latest News
Pakistan must move from ‘anarchy and polarization’ after election: army chief
"The nation needs stable hands and a healing touch to move on from the politics of anarchy and polarization, which...
Scientists in UK create new fusion record
LONDON, UK - Scientists in Britain announced on Thursday they had smashed a record for generating fusion energy in the final...
Science
‘Innovation is crucial for UAE’s energy efficiency’
"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...
Most Read
Business
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.
- The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
- The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.
Business
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
- EMRC records indicate a distribution of 49 publicly accessible charging stations alongside 14 privately owned stations.
- The capacity for the installation of multiple charging units at a single site, with 230 charging facilities holding establishment permits.
Geostrategy
Parisians vote in anti-SUV parking and pollution referendum
Paris, France -- Parisians were voting on Sunday in a referendum on tripling parking costs for hefty SUV-style cars, a campaign...
- Some 1.3m people in Paris are eligible to cast their ballot on the change, which would see cars weighing 1.6 tons or more charged $19.50 per hour for parking in central areas.
- Fully electric cars would have to top two tons to be affected, while people living or working in Paris, taxi drivers, tradespeople, health workers and the disabled are exempted.