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
Siemens bags long-term service contracts for Iraqi power plants
Abu Dhabi, UAE -- Siemens Energy has been awarded long-term service contracts for several Iraqi power plants to improve energy...
- These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda – Wave II agreement, which was signed in Berlin in January 2023.
- As part of the prioritized packages, Siemens Energy signed three long term service contracts, for five years each, for the Al Sadr, Kirkuk, and Al Rasheed power stations.
Economy
US wants hike in global crude output, including from OPEC: official
The United States wants to see a hike in oil production, including from OPEC countries, said a senior State Department...
- OPEC+ decided in early October to cut production by two million barrels per day and has not changed its output level since
- The US president has regularly called in the last year for an increase in the OPEC+ output, but the cartel has not raised its quotas
Science
UN moves towards real-time tracking of greenhouse gases
The UN announced that it had taken a significant step towards trying to fill a key gap in the fight...
- The three major greenhouses gases are carbon dioxide, methane and nitrous oxide.
- Of those, CO2 accounts for around 66 percent of the warming effect on the climate.
Geostrategy
Iran to reconnect nuclear surveillance cameras: IAEA
UN nuclear watchdog chief Rafael Grossi earlier said he had held "constructive" talks with Iranian officials in Tehran after the...
- IAEA chief earlier said he had held "constructive" talks with Iranian officials in Tehran after the discovery of uranium particles enriched to near weapons-grade level
- Grossi arrived in Iran on Friday talks deadlocked on reviving a landmark 2015 accord on Iran's nuclear activity, known formally as the Joint Comprehensive Plan of Action
Geostrategy
UAE, Italy enhance bilateral relations to Strategic Partnership level
ABU DHABI, UAE - The United Arab Emirates and Italy on Saturday announced the enhancement of their bilateral relations to...
- A pact for cooperation on energy projects and sustainability initiatives between Abu Dhabi National Oil Company and the Italian energy group Eni was signed.
- The MoU aims to strengthen cooperation in the field of emissions reduction, new energy technologies and low-carbon solutions.
Business
DEWA’s R&D Center registers 8th patent for geographical areas survey device
DUBAI, UAE - Dubai Electricity and Water Authority's (DEWA) Research and Development Center has obtained its eighth patent for a...
- The device employs real-time kinematic processing techniques to process data collected on-site.
- It works with a smart device developed by the R&D Center, which uses a smart app to read the updated coordinates in seconds.
Geostrategy
Renewables help offset rise in coal emissions in 2022, IEA says
"The impacts of the energy crisis didn't result in the major increase in global emissions that was initially feared –-...
- "Without clean energy, the growth in CO2 emissions would have been nearly three times as high," he added.
- The IEA noted that CO2 emissions grew the fastest from oil, at 2.5 percent, but still remain below pre-pandemic levels.
Geostrategy
UAE’s FNC highlights role of parliaments in addressing climate change
RABAT, MOROCCO - UAE's Federal National Council (FNC) highlighted the critical role of parliaments in addressing the repercussions of climate...
- The FNC stressed on the need to strengthen the economic, social and environmental cooperation between countries.
- The UAE’s clean energy production capacity is expected to reach 14 gigawatts by 2030.
Geostrategy
UAE, Bahrain explore ways to boost collaboration in infrastructure, transport
ABU DHABI, UAE - UAE Minister of Energy and Infrastructure (MoEI) Suhail bin Mohammed Al Mazrouei Thursday had a meeting...
- Bahrain’s Minister applauded the advanced processes at UAE Ministry of Energy and Infrastructure , particularly the AI-enabled systems for planning new infrastructure projects.
- The Bahrain’s Minister and his delegation toured the Road Control Center that was recently established at the ministry’s Sharjah offices.
Nigeria gas fuels Morocco, Algeria pipeline power struggle
Morocco and Algeria have moved to revive long-stalled projects in light of a gas supply crunch following Russia's invasion of...
- Algeria is pushing to relaunch plans for a Trans-Saharan Gas Pipeline linking Nigeria to Algeria's Mediterranean coast via Niger
- Morocco's deal with Nigeria and their West African neighbors is set to cost 23 billion euros but the project would involve complex negotiations
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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
Eni Q3 profit drops
Business
QFZ, Samsung C&T ink MoU
Business
Latest News
Aramco, ENOWA ink pact
Business
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...
Economy
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
Business
COP28 host UAE braces for rising heat risk, targets carbon neutrality
As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
Geostrategy
Most Read
Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Business
ADNOC unveils inaugural green hydrogen refueling station
Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...
- The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyser powered by clean grid electricity.
- The hydrogen supplied at the pilot station will be certified as “green” from solar sources by the International REC Standard.
Economy
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.