INSEAD Day 4 - 728x90

Energy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Middle East leads way in global methane mitigation

The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....

Dubai Supreme Council reviews progress in clean energy projects

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th...
  • The meeting discussed the progress of the Hatta hydroelectric power plant, which DEWA is building and is 70 percent complete.
  • The meeting also discussed the operation of the region’s first green hydrogen production facility to support diversifying energy sources.

Global oil industry needs $12trn investments by 2045

Oil alone will make up almost 29 percent of the world’s energy needs by 2045, requiring an investment of over...
  • OPEC member countries are ready to play a key role in providing energy to the world and in reducing emissions, Al Ghais said
  • The oil industry, he said, needs a long-term, investment-friendly climate that works for producers and consumers

US to bolster presence in Gulf after Iran threat, says White House

The United States said it was sending reinforcements to the Gulf after what it called increasing harassment by Iran of...
  • US National Security Council spokesman John Kirby said Iran has "harassed, attacked or interfered" with 15 internationally flagged merchant vessels over the past 15 years.
  • "The United States will not allow foreign or regional powers to jeopardize freedom of navigation through the Middle East waterways including the Strait of Hormuz, he said.

Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030

ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
  • The main objective of the project is to establish a global baseline for renewable energy.
  • The project will also highlight the challenges faced by different regions in meeting their renewable energy ambitions.

ADNOC inks pact with SeaOwl to design unmanned vessels

ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...
  • The innovative design of the vessel is likely to reduce carbon emissions up to 30 percent as the vessel will be lighter and smaller.
  • The design for the 55 meters long vessel will allow the vessels to be operated from an onshore control room through a satellite link.

Aramco’s plans to produce blue hydrogen ‘remain unchanged’

Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were...
  • The energy giant denied reports that it has temporarily suspended plans to produce blue hydrogen.
  • It targets to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030.

ADNOC, Baker Hughes partner to boost green hydrogen development

Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology...
  • ADNOC will leverage Baker Hughes’ extensive hydrogen expertize and broad portfolio to test and develop solutions to produce low-cost green hydrogen.
  • Baker Hughes has been a longstanding strategic partner to ADNOC, deploying advanced technologies and solutions across the energy value chain.

Jordan, Iraq renew crude supply deal

Baghdad, Iraq - Jordan and Iraq have signed a deal to resume the export of Iraqi crude to Jordan under...
  • The agreement was signed by the Energy and Mineral Resources Minister of Jordan, Saleh Al Kharabsheh, and the Oil Minister of Iraq, Hayan Abdul Ghani
  • As per the deal, Jordan will begin importing 10,000 barrels of crude per day for a year, starting from June. and this will cover around 7% of Jordan's daily oil needs

Iran seeks trade boost with Syria during Raisi’s visit to Damascus

Iran's president hailed his visit to Damascus as a "turning point", after Tehran's support helped Syria retake most of the...
  • Raisi said Iran and Syria had signed 15 "cooperation documents" which would allow "both countries to open a new chapter in economic relations".
  • Raisi and Assad signed a deal on "long-term strategic cooperation", covering fields including oil, aviation, railways and agriculture.

DEWA customers can make payments via Samsung Pay

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has added Samsung Pay to its many options for customers to...

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...

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Tawzea, NWC ink pacts

The companies have signed two agreements.

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...

Saudi Arabia spurns fossil fuel phaseout push at COP28

A tentative "phasedown/out" was included in a first draft of an agreement on climate action that delegates are haggling over...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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.

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.

ENEC, Kazatomprom ink pact

The move will ensure a secure supply of nuclear fuel.
  • ENEC's global partnerships will support the continued rapid decarbonisation of the country's heavy and energy-intensive industries.
  • This will create further clean energy sources while using the latest technologies and helping to deliver Net Zero by 2050.