ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
European energy crisis could worsen, warns Qatar minister
Doha, Qatar - Qatar's energy minister warned on Tuesday the "worst is yet to come" for Europe's oil and gas shortages,...
- "The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the economy," said Qatari Energy Minister
- "If the economy starts churning back up in (2024) and you have just a regular winter, I think the worst is yet to come," he added
Economy
Saudi Arabia to invest $3bn in three new solar projects
Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3...
- The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy
- These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households
Geostrategy
Capable of safeguarding Gulf waters in coordination with neighbors: Iran
Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran...
- The Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
- Recently the commander of the US Navy's Fifth Fleet transited through the Strait of Hormuz in a guided-missile destroyer.
Business
Gulf oil giants turn to start-ups in bid to promote carbon capture
With little investment and few projects in operation around the world so far, the technology to capture carbon before it...
- Now major players from Aramco to the UAE's ADNOC say that is about to change, as the UAE hosts climate negotiations this year with a message of cutting emissions.
- Aramco has invested in Carbon Clean, a UK-based firm that has developed compact technology that captures carbon from industrial smokestacks.
Geostrategy
UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
- The support aims to reduce the financial burden related to electricity bills, as part of an integrated and holistic approach to help low-income families in UAE.
- Beneficiaries can check the monthly support amount by referring to their farms’ consumption bill through Etihad Water & Electricity’s service channels.
Geostrategy
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...
- Over 11,500 decision-makers, energy ministers and CEOs from over 100 countries participated in the World Hydrogen Summit 2023 in Netherlands.
- A senior UAE official provided an overview of the country's energy transition, with a focus on its hydrogen industry.
Business
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...
- OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
- A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Interview
MENA region takes significant strides towards renewable energy, says Prince Albert II of Monaco
The Monaco prince commends the Saudi Green Initiative, Middle East Green Initiative and the upcoming COP in Dubai as "remarkable...
- Prince Albert recognizes the remarkable environmental initiatives undertaken by the MENA region and offers his support and willingness to contribute to these efforts
- Stressing on global collaboration, Prince Albert II emphasizes that the fight against climate change and the preservation of biodiversity cannot be won by isolated efforts
Business
Russian oil exports hit post-invasion high, says IEA
PARIS, FRANCE - Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by...
- The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd in April.
- Russia's tax receipts from its oil and gas sector were down by 64 percent year-on-year, the agency added.
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ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
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Oil prices up on Saudi, Russia push for output reduction
Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in...
Economy
Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war
OTTAWA, CANADA — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
Geostrategy
UAE leads global renewable energy drive: IRENA envoy
The UAE plays a pivotal role as IRENA headquarters and key renewable energy hub, Dr Nawal Al Hosany, the permanent...
COP28 UAE
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Geostrategy
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...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
COP28 UAE
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...
- The draft of global climate agreement forms the basis of negotiations that will unfold in coming days, with a final text expected in theory by December 12
- It is a formal response to the "global stocktake", a damning report card published in September that highlighted how little the world had done to confront the climate crisis