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
GCC, OPEC boost ties to stabilize global oil markets
During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...
Economy
Economy
G7 climate ministers pledge to end plastic pollution by 2040
A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
- The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
- According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Science
UAE launches its second nanosatellite DEWA SAT-2
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) successfully launched its second nanosatellite, DEWA SAT-2, aboard SpaceX’s Falcon 9...
- The launch of DEWA SAT-2 underlines the firm's commitment in using space technologies to improve the operations and maintenance of electricity and water networks.
- The nanosatellite was designed and developed by Emiratis at DEWA’s Research and Development Center, in collaboration with NanoAvionics in Lithuania.
Geostrategy
Nuclear power reactors to shut down in Germany
BERLIN, GERMANY - Germany will switch off its last three nuclear reactors on Saturday, exiting atomic power even as it seeks...
- The exit decision was popular in a country with a powerful anti-nuclear movement, stoked by lingering fears of Cold War conflict and atomic disasters.
- The challenge caused by Russia's invasion of Ukraine put an end to cheap gas imports and has upped calls in Germany to delay withdrawal from nuclear power.
Business
ADNOC L&S to deploy five very large gas carriers
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on...
- The gas carriers will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group.
- VLGCs transport liquefied petroleum gas and will provide ADNOC L&S greater flexibility to meet growing global gas demand.
Economy
Germany to shut down last three remaining nuclear plants
At a time when many Western countries are ramping up nuclear power in their transition to greener energy sources, Europe's...
- The exit decision was popular in a country with a powerful anti-nuclear movement fuelled by fears of Cold War conflict and disasters such as Chernobyl
- The three final nuclear plants provided six percent of Germany's energy last year, compared with 30.8 percent from all nuclear plants in 1997
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
Business
SDF signs $240m loan pact for Pakistan hydropower project
Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand...
- The project is co-financed by the Saudi Fund for Development, OPEC, Islamic Development Bank, and the Kuwait Fund for Arab Economic Development.
- By using renewable energy sources, the project will generate 800 MW of electricity production capacity.
Business
DEWA, Siemens Energy discuss enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed enhancing cooperation...
- DEWA is implementing clean and renewable energy and water desalination projects.
- The firm attaches great importance to research in sustainable and renewable energy.
Economy
Iran working on key pipeline to supply gas to Oman
Reza Noshadi, who heads the National Iranian Gas Company’s engineering subsidiary, said that Iran will be able to export gas...
- In June last year, Oman and Iran signed deals to develop two gas pipelines and an oil field along their maritime border
- Oman has close ties with Iran and played a mediating role between Tehran and Washington in the build-up to the nuclear deal in 2015
Business
Iraq, Kurdish region sign accord to resume oil export
The deal, thrashed out in talks between federal and regional officials, spells the end of independent oil exports by the...
- The agreement was signed in Baghdad in the presence of Prime Minister Mohamed Shia al-Sudani and Kurdish premier Masrour Barzani.
- The deal comes two days after Iraq, Saudi Arabia and several other major oil exporters announced a sharp reduction in their production from May.
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
Company News
Ducab, Somagec ink MoU
Business
Latest News
134 nations to put food, agriculture in national climate plans
"This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to...
COP28 UAE
UAE President announces $30bn Global Climate Fund at COP28 meet
In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...
Geostrategy
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...
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Science
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...
- Before production was interrupted at 1:35 pm (1135 GMT), Olkiluoto 3 was undergoing a fault ride-through test where a short circuit is created near the power plant
- The reactor only resumed production last Wednesday following a shutdown due to a malfunctioning temperature measurement in the generator's cooling system
Business
UAE to pump CO2 into rock as carbon capture debate rages
Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...
- The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
- Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.
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"