INSEAD Day 4 - 728x90

Energy

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...

Economy

Unit 4 of UAE’s Barakah Nuclear Energy Plant commissioned

Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah...

Economy
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.
Science

WMO urges more investment in integrated weather, climate services

GENEVA, SWITZERLAND - The global transition to renewable energy will require greater investment in integrated weather and climate services, the...
  • This investment is critical to ensure that energy infrastructure is resilient to climate-related shocks.
  • WMO is stepping up its activities to promote tailored weather and climate information, and forecasts.
Geostrategy

Oil cuts in interest of energy markets, says Russia

The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar...
  • Saudi Arabia and other major oil producers announced Sunday a production cut of more than one million barrels per day.
  • Russia said it would extend until the end of the year its own voluntary production cut of 500,000 barrels per day.
Economy

Major oil powers slash production ahead of OPEC+ meet

Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total...
  • Russia, a member of OPEC+, said it was also extending its cuts of 500,000 bpd to the end of this year, calling it "a responsible and preventive action".
  • The cuts were announced despite calls from the US to raise production as consumption rises and as China, the world's biggest oil consumer, reopens after its Covid shutdown.

Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy

Company News

Latest News

COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action

Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
COP28 UAE

50 oil and gas companies pledge to cut operational emission in COP28 meet

DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
COP28 UAE

UAE President attends Group of 77 and China meeting at COP28

DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

COP28 UAE

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...
  • A total of 134 countries who produce 70 percent of the food eaten worldwide signed the declaration, summit hosts the United Arab Emirates said
  • The 134 nations are home to 5.7 billion people and represent more than three quarters of all greenhouse gas emissions from the global food system
Geostrategy

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...
  • The fund, designed to address the critical gap in climate financing, aims to enable affordable access to climate finance.
  • The UAE President highlighted the global urgency of addressing climate change and its pervasive impacts on life.

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...
  • National oil companies, or NOCs, "account for more than half of global production and close to 60 percent of the world's oil and gas reserves," the IEA said
  • NOCs and the oil majors - which include BP, Chevron, ExxonMobil, Shell and TotalEnergies - will all be "critical to efforts to achieve net zero" emissions by 2050