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.

Qatar to ramp up gas output with new mega field expansion

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...

Economy

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
Business

‘Saudi to invest US$266bn in cleaner energy’

Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's...
  • Despite its goal of achieving net zero carbon emissions by 2060, Saudi Arabia remains hugely dependent on crude oil exports.
  • The Saudi minister said the Kingdom is determined to be the leading exporter of clean hydrogen.
Geostrategy

Fight global warming without harming economic growth: COP28 chief

The UAE is pushing the merits of carbon capture -- removing carbon dioxide as fuel is burned, or from the...
  • Sultan Al Jaber, the UAE's special envoy for climate change and CEO of oil giant ADNOC, said the energy transition needed to make the planet "wealthier and healthier".
  • The UAE, one of the world's biggest oil producers, argues that crude remains indispensable to the global economy and is needed to finance the energy transition.
Economy

Saudi Arabia explores space to secure solar energy

The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important...
  • The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change
  • The project's cost is likely to exceed tens of billions of dollars amid expectations that the space solar energy project will be completed by 2040, reports suggest
Business

DEWA commissions 17 transmission substations worth US$871m in 2022

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) inaugurated 17 new substations in 2022. These include fifteen 132kV stations...
  • The transmission substations include 15 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA.
  • DEWA installed 5km of 400kV overhead transmission lines and 247km of 132 kV ground cables to connect the substations to the main transmission network.
Economy

Libya and Italy sign US$8bn gas deal as Europe searches for energy

The agreement was signed in the presence of Meloni and her host Abdulhamid Dbeibah, who heads the UN-brokered Government of...
  • Eni said it was the first major project in Libya since early 2000 and involved the development of two offshore gas fields
  • During her trip to Libya, Giorgia Meloni was expected to discuss the issue of migration amid rising numbers of irregular migrants from Libya to Italy
Geostrategy

Italy PM Meloni in Libya to discuss energy, migration

Italian Prime Minister Giorgia Meloni arrived in the Libyan capital Tripoli for talks on energy and migration, Libyan state media...
  • Libya and Italy are key trade partners, particularly in energy, where Italian giant Eni plays a major role in tapping into Africa's largest known oil reserves.
  • Meloni was accompanied by Eni chief Claudio Descalzi, who is expected to sign a deal with Libya's National Oil Company.
Business

DEWA’s virtual employee ‘Rammas’ responds to over 6.8mn enquiries since 2017

DUBAI, UAE - Dubai Electricity and Water Authority’s ( ) virtual employee ‘Rammas’, which uses Artificial Intelligence (AI), answered over...
  • DEWA CEO said the firm launched Rammas as part of its strategy to employ AI in all its operations and services.
  • Rammas encourages the use of smart channels, reduces the number of visits to DEWA’s Customer Happiness Centers.
Interview

Solar power energizes GCC’s sustainability drive

Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European...
  • Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.
  • Solar power plants in the Gulf region can expect 1,750 to 1,930 hours of full-load operation per year, while European countries such as Germany register only 940 hours of load
Business

Iraq loses 7500MW as Iran slashes gas exports to Baghdad

Baghdad, Iraq - Iraq's Minister of Electricity, Ziyad Ali Fadel said the national grid has lost 7,500 megawatts in the...
  • Minister of Electricity Ziyad Ali Fadel said the MoU signed with Siemens will lead to the establishment of a station with a capacity of 400MW in Karbala.
  • He said the supply will improve by 30 percent in 12 days as gas supplies return to nomral.

EU mission to Armenia will fuel confrontation, says Russia

The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since...
  • Moscow has sought to maintain its role as a powerbroker between the ex-Soviet republics despite being bogged down in its offensive in Ukraine
  • On Monday, the EU launched a civilian mission to help monitor Armenia's border with Azerbaijan, bolstering the bloc's role in a region

Qatar to ramp up gas output with new mega field expansion

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
Economy

Company News

Latest News

IAEA greenlights 3 national projects in Qatar

Doha, Qatar - The International Atomic Energy Agency (IAEA) has given the green light to three new national projects in...

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
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Analysis

Saudi pioneering solutions for water scarcity

The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
  • Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
  • The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
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