INSEAD Day 4 - 728x90

Energy

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...

Business

Middle East oil policies not dictated by US, says Russia

MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...

Geostrategy
Geostrategy

Kuwait calls for border talks with Iran over gas field

KUWAIT CITY, KUWAIT -  Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready...
  • Iran and Kuwait have held unsuccessful talks for many years over their disputed maritime border area, which is rich in natural gas.
  • Saudi Arabia is also a part of the dispute since it shares with Kuwait maritime gas and oil resources in the area.
Business

Oil prices increase after Saudi Arabia and Russia cut crude output

In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move...
  • Brent crude, the international benchmark, and US counterpart WTI jumped after Riyadh extended a voluntary oil production cut.
  • "It's the usual knee-jerk reaction to reports of production cuts," IG analyst Chris Beauchamp told AFP, when asked about the latest oil-price gains
Economy

OPEC+ strives for market balance, sustainable growth

The international oil bloc’s technical team constantly monitors variables in global oil markets and presents its recommendations to the ministerial...
  • UAE updates energy strategies and aligns with climate goals, helping it rank second in global Green Future Index, says a UAE minister
  • The Gulf country has invested over $50 billion in clean energy projects and pledges an additional $50 billion over the next decade, he adds
Business

Iraq exports crude oil worth over US$7bn in June 2023

BAGHDAD, IRAQ -   Total crude oil exports in June reached over 100 million barrels, the Iraqi government said in a...
  • The majority of these exports - amounting to almost 99 million barrels - originated from the oil fields in central and southern Iraq.
  • The average daily export volume was pegged at over 3.3 million barrels. The average price per barrel for the month was recorded at $71.11.
Geostrategy

France, UAE share vision to shift towards clean energy

PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision...
  • The UAE and his country are working together on low-carbon energy solutions, the French minister said.
  • The minister highlighted the rising number of natural disasters globally caused by climate change.
Economy

OFID, partners offer $60m loan to Tanzania for renewable energy

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
  • The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid.
  • Tanzania is investing in expanding its hydropower capacity with plants under development at Rusumo and Kakono in its northwestern region.
Economy

UAE offers the world an eco-friendly economic model

“The World Meteorological Organization is extremely pleased with the UAE's actions, including the decision to increase investment in clean energy...
  • The UAE's economy is less than 20 percent reliant on fossil fuels, setting a leading example in the Gulf region, says WMO Secretary-General Prof Jukka Petteri Taalas
  • The UAE's commitment to clean energy and the decision to host the IRENA headquarters align with WMO's strategy for addressing climate change, he points out
Business

Aquaterra gets UAE contract

Firm will deliver a complete end-to-end managed service.
  • Aquaterra Energy will work closely alongside in-country partners to manufacture and transport the project equipment.
  • This will provide thousands of hours of local employment for the region, as well as opportunities for upskilling and knowledge sharing.
Business

ADNOC Distribution, HPCL ink agreement

Will help to enhance efficiency of overseas operations.
  • With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
  • ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Economy

Libya’s east-based government threatens to block oil exports

Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
  • Hamad also said that he had "frozen" 2022 oil revenues "equivalent to more than 130 billion dinars" (around $27 billion) as a first step
  • He accused the government in Tripoli of squandering energy revenues by making "extravagant spending", without elaborating

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business

Company News

Latest News

ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant

The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4...
Business

Oil prices rise following Red Sea attacks

Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
Market Report

ACWA Power signs $800m agreement for South Africa renewable project

Dubai, UAE -- Saudi-listed renewable energy giant ACWA Power has signed a $800 million power purchase agreement for ACWA Power Project...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

COP28 UAE

IEA boss says COP28 bid farewell to fossil fuels

PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to...
  • It gave an unmistakable signal to investors that if you continue to invest in fossil fuels you may well have serious business risks
  • It gives a signal to the investors for clean energy that they may be more profitable than many people now believe they are.
Business

ADNOC to buy stake in Fertiglobe

ADNOC to buy OCI’s entire shareholding in Fertiglobe.
  • Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
  • It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.
Business

ENEC, CNNC sign MoU

Both the firms will offer their expertise in the sector.
  • The two firms will collaborate on identifying potential development and co-investment opportunities for new international nuclear energy plants.
  • They will form a Joint Working Group to leverage their strengths in project management, nuclear technology development and implementation.