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.

Iran signs big contracts to increase oil production

Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...

Geostrategy

Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...

Business
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.
Economy

EU bloc records highest ever trade deficit in 2022

BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching...
  • The deficit was due, in particular, to a steep rise in the value of energy imports, which started towards the end of 2021 and continued through most of 2022.
  • Also in 2022, non-EU imports (+41 percent) and exports (+18 percent) reached their highest year-on-year growth rates recorded over the last 10 years.
Economy

Dutch refinery looks to boost production of sustainable aviation fuel

Sustainable aviation fuels are being made from different sources such as municipal waste, leftovers from the agricultural and forestry industry,...
  • EU plans to impose the use of a minimum amount of sustainable aviation fuel by airlines, rising from two percent in 2025 to six percent in 2030 and at least 63 percent in 2050
  • Neste's Lehmus said there was a great need to mature the technologies to make sustainable aviation fuel from diverse sources such as algae, nitrocellulose and synthetic fuels
Business

Iraq inaugurates oil refinery in Karbala to curtail imports

The minister said the refinery, built by South Korean firm Hyundai, can produce nine million liters of fuel a day...
  • Oil minister said that after the inauguration by the Iraqi Prime Minister, the refinery has started commercial production.
  • The refinery can produce up to 140,000 barrels every day, and help in reduction of overseas oil import.
Business

DEWA, Siemens discusses enhancing cooperation

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer discussed the latest advancements...
  • DEWA and Siemens discussed the role of smart grids in improving the efficient and sustainable distribution of energy.
  • They also discussed ways to enhance collaboration between DEWA and Siemens in the area of smart grid technology.
Business

UK warns against protectionism after US green energy subsidy

London, United Kingdom - Britain on Thursday warned against the threat of protectionism as it slammed the United States for leading...
  • UK Finance Minister Jeremy Snape said the threat of protectionism is making a comeback in the world in the form of subsidy.
  • US President Biden has launched $370bn initiative of subsidies for green energy and tax cuts for US manufactured e-cars, batteries.
Business

Petrofac shares surge

Petrofact and Hitachi Energy secured a $14.1bn energy deal.
  • European electricity grid operator TenneT awarded the pair multi-year projects to expand offshore wind capacity in the Dutch-German North Sea.
  • Shares in Petrofac soared 58% to 77.5 pence after the group's outgoing CEO Sami Iskander said the deal would "deliver affordable clean energy for millions of European homes".
Economy

Trends Poll: Saudi will reach net-zero first in GCC

Gulf countries have substantial financial and other resources to achieve zero- emission goals but they need to identity and address...
  • The majority (59 percent) said Saudi Arabia will achieve the target first, followed by the UAE (24 percent) and Qatar (11 percent). 
  • Saudi Arabia, Qatar and the UAE account for around 10 percent of the world's annual CO2 collection at 3.7 million tons per annum (mtpa).

Iran signs big contracts to increase oil production

Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy

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