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.

Europe should move faster on energy transition, say IEA, ECB

PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
  • Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
  • Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.

Politicians fail to understand scientific facts of climate, says expert

PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
  • Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
  • These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.

QatarEnergy inks pact with Marubeni

QatarEnergy will supply naphtha to Marubeni for 10 years.
  • This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
  • Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.

Rising demand for critical metals pose dilemmas for investors

PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
  • Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
  • Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.

‘Saudi Arabia committed to peaceful nuclear energy’

"The Kingdom underscores the need for collective international efforts to enforce the provisions of the Non-Proliferation Treaty and ensure its...
  • Saudi Arabia's government emphasizes transparency, reliability, and safety in its national atomic energy policy
  • It acknowledges the positive impact of nuclear energy on energy security and socio-economic benefits.

European Union okays lighter pact on curbing car emissions

Brussels, Belgium - EU member countries on Monday adopted a watered-down deal on curbing car emissions, after auto manufacturers complained stricter...
  • Led by France and Italy, the 27 nations voted for a less ambitious plan than the one put forward by the European Commission in November 2022
  • The European Automobile Manufacturers' Association (ACEA), the sector's main EU lobby group, cautiously welcomed the decision

ADNOC, TAQA complete financial closing on sustainable water supply project

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
  • A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
  • ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.

Iran criticizes US statement on islands dispute with UAE

Iran said it had called in the Swiss envoy to deliver a protest over a “provocative” US statement on its...
  • The islands of Abu Musa and Greater and Lesser Tunb lie near the Strait of Hormuz.
  • Iran gained control of the islands under the rule of the Western-backed shah in 1971.

China to control half the world’s hydrogen electrolyser capacity

China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...
  • China's installed electrolyzer capacity has jumped in recent years and is expected to reach 1.2 gigawatts after having accounted for just 10 percent of the global capacity in 2020
  • Electrolyzers are devices used for the industrial separation of hydrogen and oxygen within water molecules, using electricity obtained through renewable energy sources

UK to revoke plan to attain net zero emissions by 2050

LONDON, UK- The UK looked set to backtrack on Wednesday on policies aimed at achieving net zero emissions by 2050 with...
  • The move comes amid growing concern over the potential financial cost of the government's policies to achieve net zero carbon emissions by mid-century.
  • Prime Minister Sunak said while the government was committed to the net zero target, it would try to achieve it "in a better, more proportionate way".

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

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...

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...

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,...

Most Read

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
  • Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
  • The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.

Biggest fuel refinery plant of Africa begins production

Lagos, Nigeria - Africa's biggest diesel and aviation fuel refinery built by the continent's richest man has started production, the company...
  • The 650,000 barrel-per-day Dangote refinery could be a game changer when fully operational by helping end Nigeria's reliance on fuel imports.
  • The facility sits on 2,635 hectares (6,500 acres) of land at the Lekki Free Zone on the edge of Lagos city and cost an estimated $19 billion.

DEWA records 12.5 million digital transactions in 2023

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
  • DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
  • These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.