INSEAD Day 4 - 728x90

Energy

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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...

Economy

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,...

Business
Business

Expo 2023 building in Guinness World Records for largest green roof

Doha, Qatar -- The main building of Expo 2023 in Doha has made it to the Guinness World Records for...
  • The roof of the building, implemented by Qatar's Public Works Authority (Ashghal), has an area of 4,031 square meters.
  • The new global achievement is the sixth world record achieved by Qatar's Public Works Authority in the previous years.
Geostrategy

UN conference adopts plan to reduce harmful chemicals

PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
  • The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
  • It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
Economy

ADB capital reforms unlock $100bn to support Asia and the Pacific region

MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
  • The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
  • The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy

US to auction three new oil and gas leases in the Gulf of Mexico

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
  • The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
  • The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.
Business

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.
Science

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.
Business

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.
Business

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.
Economy

‘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.
Business

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

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...
Economy

Company News

ACME ammonia plant in Oman

Oman Shell updates SME training

Qatar Petroleum begins expansion

Khalid Al Qubaisi new ADES CEO

Chevron JV wins $240m Bapco deal

Latest News

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...
Business

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...
Geostrategy

Use of DEWA’s electric-vehicle green chargers up 59% in 2023

Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Shell annual profit drops to US$19.4bn

Its revenue dived almost a fifth percent to US$316.6 billion.
  • Revenue of the British energy major dived almost a fifth percent to $316.6 billion, Shell will nevertheless return $3.5 billion to shareholders
  • "Shell delivered another quarter of strong performance, concluding a year in which we made good progress," said chief executive
Economy

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,...
  • The Iran Grid Management Company and the Turkish Electricity Transmission Company (TEIAS) will operationalize the Khoy-Van grid line
  • The agreement sets the stage for full-scale operation, opening avenues for electricity exchange between Turkey and several European countries
Business

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.
  • Demand for electric vehicles in the UAE market has steadily increased over the past few years.
  • The collaboration also aims to deliver on the demand for sustainable transportation in the UAE.