WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
Iran fires first ship-based long-range ballistic missiles
TEHRAN, IRAN - Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has launched long-range ballistic missiles from a warship...
Geostrategy
Geostrategy
Iran seizes oil tanker in Strait of Hormuz, says US Navy
Iranian forces seized a Panama-flagged oil tanker in the Strait of Hormuz, the US Navy said, the second such incident...
- A dozen Iranian Navy fast-attack craft swarmed the vessel in the middle of the strait, said a statement from the Bahrain-based US Fifth Fleet.
- The troubled but commercially vital Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
BP back in Q1 profit
In Q1 2022, BP posted its biggest loss ever at $20.4bn.
- BP posted for the first three months of 2022 its biggest quarterly loss ever, at $20.4 billion after taxes, after Western sanctions forced its exit from Russia
- The company also revealed that underlying profit dropped by one fifth to $5 billion, reflecting lower energy prices compared with one year earlier
Business
ADNOC and TotalEnergies sign agreement to export LNG globally
Abu Dhabi, UAE - ADNOC Gas announced Monday a three-year supply agreement with the TotalEnergies Gas and Power Limited for...
- Under the deal, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.
- "This agreement reflects our commitment to meeting the needs of our customers by offering supply security," said CEO ADNOC Ahmed Alebri.
Business
AD Ports Group purchases bulk carriers, crude oil tankers
ABU DHABI, UAE - AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
- These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
- The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Business
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
- The event, on May 1-4, will see global travel, tourism, and hospitality experts discuss how their industry is ‘Working Towards Net Zero’.
- Exhibitor participation in the event has risen by 27 percent compared to last year’s event, with growth registered across all show sectors.
Business
DEWA keen to enhance happiness in work environment, says CEO
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
- "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
- "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
- Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
- AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Economy
IEA’s call to halt oil investments will hurt market
His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output...
- OPEC Secretary General Haitham Al Ghais has cautioned IEA against discouraging oil investments crucial for global economic growth
- Russia's Deputy PM Alexander Novak says the OPEC+ group, comprising leading oil producers, sees no need for further output cuts
Business
EU agrees to boost use of green aviation fuel to cut emissions
Aviation emissions in Europe were on an upward curve of around five percent per year between 2013 and 2019, dropping...
- European Union is eyeing a net carbon-neutral future, and the decision to use sustainable fuel is a step towards it.
- "This agreement provides certainty for the SAF (sustainable aviation fuel) industry and airlines alike," said an official
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
Company News
Latest News
Ducab, Somagec ink MoU
Business
COP28 puts spotlight on state oil giants
Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but...
Brazil to become OPEC+ member in 2024, says group
Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday. Brazil is among...
Business
Europe’s largest nuclear reactor malfunctions again
Helsinki, Finland - Finland's Olkiluoto 3, the largest nuclear reactor in Europe, stopped production on Wednesday after a test caused the plant unit...
Science
Most Read
Economy
Oil prices inch up on mixed day for US stocks
World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with...
- Fed Governor Christopher Waller said he was "encouraged" by recent progress on the economy
- Market analysts say the gain came "as expectations build on the prospect of another output cut"
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
- CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
- Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Geostrategy
COP28 host UAE braces for rising heat risk, targets carbon neutrality
As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
- The UAE's scorching summers, when many flee for cooler climes and the streets empty, look set to worsen due to climate change, various studies show
- The region's extreme heat and high humidity are a dangerous mix as in such conditions the human body struggles to cool itself by evaporating sweat on the skin