WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
Iran fires first ship-based long-range ballistic missiles
TEHRAN, IRAN - Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has launched long-range ballistic missiles from a warship...
Geostrategy
Economy
Preserving natural resources crucial for future generations, reiterates key UAE official
The UAE has a long and established history in the field of sustainability, which began with the initiatives launched by...
- Protecting and preserving natural resources for future generations is very important and the UAE is committed to achieve sustainability, says an official
- The UAE has a long and established history in the field of sustainability, which began with the initiatives launched by the late Sheikh Zayed Al Nahyan, he adds
Economy
‘UAE is committed to achieving sustainability’
ABU DHABI, UAE - Ruler's Representative in Al Dhafra Region and Chairman of the Board of Directors of the Environment...
- Abu Dhabi attaches high priority to protect the environment and preserve natural resources.
- Sheikh Hamdan also highlighted the emirate and the EAD's journey in promoting sustainability and preserving the environment.
Geostrategy
UAE, France, India to join hands in energy, climate change sector
The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative...
- The three countries affirmed that the trilateral initiative will serve to promote the design and execution of cooperation projects in various fields
- The initiative will also serve as a platform to expand cooperation between the three countries’ development agencies on sustainable projects
Geostrategy
UAE, France foreign ministers discuss strategic partnership
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan received French...
- The UAE and French ministers discussed bilateral relations and available opportunities for expanding cooperation between the two countries.
- The two sides stressed their keenness to continue consultations and coordination on issues of mutual concern.
Geostrategy
Saudi Arabia, France ink MoU on energy cooperation
The MoU encourages cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart...
- The MoU encourages cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart grids
- It also promotes cooperation in digital transformation, localization of materials, products and services in the energy supply chain
Science
Europe looks to geothermal energy as gas alternative
MUNICH, GERMANY - The heating plant in Munich's southern Sendling neighborhood has been run for more than a century on gas,...
- Munich is pouring in US$1.1 billion through 2035 to develop the geothermal energy and make the city's heating carbon neutral.
- Reliable and sustainable geothermal energy seems like the perfect alternative to gas.
Business
Iraq hopes talks can resolve hitches in US$10bn Total deal
Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed...
- The French energy giant had signed the US$10-billion contract with Iraq in September 2021.
- The partnership has struggled to materialize amid reported signs of discord between the two sides.
Kuwait projects widening $16 bn budget deficit
The budget deficit will swell to five billion dinars (more than $16 billion) for the year starting in April, up...
- The state spending will rise by 11.7 percent to more than $86 billion, with 80 percent going on civil service wages and public subsidies
- Oil revenues are expected to fall by 19.5 percent, they were calculated based on a price of $70 per barrel -- lower than last year's prices
Business
Dubai energy demand grew by 5.5 percent in 2022: DEWA CEO
Dubai, UAE– Dubai witnessed a 5.5 percent increase in energy demand in 2002, from 50,402 GWh to 53,180 GWh, said...
- DEWA provides electricity and water services to 3.514 million people living in Dubai and the Emirate’s active daytime population of over 4.7 million.
- These numbers are expected to grow to 5.8 million and 7.8 million, respectively by 2040.
Business
Major UAE solar plant to go online before COP summit, says energy firm
ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United...
- The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover half of its needs by 2050.
- State-owned Emirati companies TAQA and Masdar own 60 percent of the project, which they describe as the world's largest single-site solar plant.
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
Company News
Latest News
Almost all oil and gas producers developing unneeded fields: NGO
Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas...
Business
Aramco produces first unconventional tight gas
Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first...
Business
China emissions to fall in 2024 on renewables jump
The country has been installing renewable energy capacity at breakneck speed, with new solar in 2023 alone amounting to twice...
Economy
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Business
EVIQ to set up infra for EVs in KSA
PIF, SEC JV's brand name for EV infrastructure is EVIQ.
- EVIQ will support electric vehicle adoption in Saudi Arabia by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs.
- This will help enable and encourage the use of electric vehicles across Saudi Arabia, in line with the sustainability goals of the Kingdom.
Economy
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
- The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
- Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage
Geostrategy
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.
- ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
- This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.