Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
Science
Business
MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with...
- According to the Global Electric Mobility Readiness Index (2022), the demand for electric vehicles in the UAE has been rising over the past few years.
- The report shows the UAE, which has more than 300 charging stations, has one of the largest charging-station-to-vehicle-ratios in the world.
Business
IEA says renewable energy capacity to increase at record level in 2023
PARIS, FRANCE - Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy...
- Global additions of renewable energy capacity are expected to rise by 107 gigawatts to more than 440 GW in 2023.
- Newly installed solar and wind capacity is estimated to have save EU electricity consumers $107 billion between 2021-2023.
Salvage of oil tanker stranded off Yemen can begin: UN
In an unprecedented salvage plan, the UN has purchased a super-tanker to remove the oil from the vessel in the...
- The salvage operation, which will cost an estimated more than $140 million, has been assigned to a company called SMIT Salvage
- SMIT Salvage will pump the oil from the 47-year-old Safer to the now UN-owned ship called Nautica, and then tow away the empty tanker
Geostrategy
Extension of Kurdish parliament unconstitutional, says Iraq supreme court
Iraq's supreme court ruled as unconstitutional the extended mandate of autonomous Kurdistan's parliament, rendering invalid votes taken by the chamber...
- The president of the top federal court in Baghdad, found unconstitutional the year-long extension of the chamber's mandate.
- As a result, decisions taken by the Kurdistan parliament since October 2022 "are constitutionally invalid", the judge said.
Business
UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
- Under the agreements, the partners will cooperate to create incentives for people to own EVs, facilitate investment in the UAE network of electric vehicles.
- The Global EV Market is in line with the objective of the We The UAE 2031 vision of enhancing the position of the Emirates as a global partner.
Economy
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
- Over 1,000 private sector executives and Dubai Chamber members commit to halving global emissions by 2030, aiming for zero emissions by 2050
- UAE continues to enhance its environmental prosperity, with an emphasis on protected areas, sustainable agriculture, and nature-based solutions
Business
Sharjah’s Waste-to-Energy Project promotes renewable energy
SHARJAH, UAE - The Sharjah Waste-to-Energy Project, the first of its kind in the Middle East, has strengthened its efforts...
- Since its launch one year ago, the plant has increased its waste diversion rate from 76 percent to 90 percent.
- The move aligns with the UAE's goal of achieving climate neutrality by 2050 and diversifying the energy mix.
Business
Dubai launches strategy to achieve zero emissions in public transport
This aligns with UAE's preparations for COP28 and the UAE Net Zero by 2050 Strategic Initiative, and is a part...
- This makes it the first Middle Eastern agency to develop a long-term strategy for migrating towards Net-Zero Emission Public Transport by 2050.
- The primary objectives of the strategy include the decarbonization of all taxis, limousines, and public buses and designing buildings.
Economy
Iraq budget vote delayed as Kurds oppose amendments on oil
In a country where political agreements are concluded after endless negotiations between political parties, the objection of the Kurds is...
- Iraqi Kurdistan's Prime Minister Masrour Barzani said Saturday the budget amendments amounted to "treason" and an affront to Iraqi Kurdish rights
- Iraq's oil dependent economy has traditionally been plagued by budget delays, which the government's three-year proposal aimed to avoid
Economy
Iraq warned to end oil addiction in order to avoid ‘intensive care’
Iraq looks to have renewable energies cover a third of its electricity needs by 2030 and has signed several contracts...
- Baghdad will "diversify the economy" in the next 10 years, said Muzhar Saleh, economic adviser to Iraq's prime minister
- To initiate reforms needed to achieve "green growth", the World Bank estimates Iraq must spend $233 billion, spread out until 2040
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
Company News
Latest News
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
Geostrategy
COP28 draft agreement includes option to do nothing on fossil fuels
The fate of oil, gas and coal is the thorniest issue being thrashed out at the COP28 UN climate talks...
COP28 UAE
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Geostrategy
Masdar City to construct region’s first net-zero energy mosque
Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a...
- The mosque’s total energy requirements were reduced by 35 percent compared to international baselines using passive design
- Low-flow water fixtures, drought-resistant landscaping, and the use of recycled water for irrigation will reduce water use by 55 percent
COP28 UAE
We respect climate science, says COP28 head
DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
- Sultan Al Jaber also repeated his past statements that a phase out of fossil fuels was "inevitable".
- He acknowledged that global greenhouse gas emissions must be cut by 43 percent by 2030.
Geostrategy
Saudi energy minister calls Western climate pledges ‘small change’
"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
- The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
- The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.