India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
Economy
ADNOC to buy stake in Fertiglobe
Business
ENEC, CNNC sign MoU
Business
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Economy
G20 per capita coal emissions growing: research
According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions...
- Countries such as Britain, Germany and the United States were able to significantly decrease per capita emissions
- But at the same time, other countries, including G20 host India, Indonesia and China, all saw their emissions rise
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.
Economy
Oil prices climb to highest level in seven months on supply fears
Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by...
- Russia's Deputy Prime Minister Alexander Novak said on Thursday that his country has agreed with OPEC+ to cut oil exports next month
- The International Energy Agency and OPEC are relying on China, the world's largest oil importer, to shore up oil demand over the rest of 2023
Economy
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
- The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
- The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.
Geostrategy
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
- In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
- IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Business
Iran inaugurates final phase of country’s largest gas field
The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...
- Oil Minister Javad Owji said around 50 million cubic meters of gas will be extracted daily from phase 11 of the project "after the completion of the wells".
- Iran has the world's second largest gas reserves, after Russia, and the world's fourth largest oil reserves.
Business
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.
- The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
- 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business
Climate change to be discussed in Dubai COP28 meet, says Egypt minister
Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
- noted that international reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks
- Al Mashat added that COP28 will see presentations on the most important results and joint action taken over a year within the National Platform for Green Projects
Economy
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDAN - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...
- The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
- In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
Economy
Company News
ADNOC to buy stake in Fertiglobe
Business
ENEC, CNNC sign MoU
Business
Latest News
World adds 50% more renewable energy capacity in 2023
The International Energy Agency said that the renewable energy capacity added to energy systems went up 50 percent in 2023,...
Economy
SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
France drops renewables targets in new energy bill
The proposed text affirms "the sustainable choice of using nuclear energy as a competitive and carbon-free" source of electricity. But...
Economy
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Business
Apple’s Vision Pro headset available in US on February 2
WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United...
- Announced in June, the Vision Pro will cost a hefty $3,499 before tax, more than double the price of Meta's top-of-the-range Quest Pro headset.
- The headset has been in development at Apple for years, and is seen as a much needed boost to a segment that Facebook-owner Meta has struggled to grow.
Business
Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
- The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and reinject the gas directly into the reservoir, TotalEnergies said.
- The company said the high pressure subsea separation (HISEP) technology has the potential to reduce the intensity of greenhouse gas emissions.
Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
- UK government said it would invest $382 million building a high-assay low-enriched uranium programme that would help "displace" Moscow from global energy mar
- The British investment is part of plans to deliver up to 24 gigawatts of electricity from nuclear power by 2050, a quarter of the United Kingdom's electricity needs