Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
Science
GCC, OPEC boost ties to stabilize global oil markets
During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...
Economy
Business
RAK first in world to achieve 19 ISO 50001 certifications
Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
- The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
- A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
YEARBOOK 2023
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region...
- Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights
- Successful hosting of international events in 2022 such as Expo Dubai in the UAE, the World Cup in Qatar, and COP27 in Egypt, also contributed to GCC's strong performance
YEARBOOK 2023
Fearing a decline in demand amidst global slowdown, Kuwait may raise exports of oil derivatives to Europe
The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute...
- The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out
- Real GDP growth is expected to slow to 2.5% in 2023 if average crude oil output stabilizes, while real growth outside hydrocarbon sector is projected to stabilize at 3.8%
Business
DEWA implements SAP’s Audit Management System
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has implemented the SAP Audit Management System (TAWKEED), becoming the first...
- DEWA's Internal Audit Department is an independent assurance function that adopts the best-in-class standards and practices.
- The Internal Audit department at DEWA operates under an approved charter.
A fifth of new cars in California zero-emission in 2022: data
On Friday the California Energy Commission said 18.8 percent of new cars sold in the state in 2022 were EVs,...
- Last year officials set ambitious targets for boosting the number of electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs) on the roads
- The California Air Resources Board announced in August the sale of new gasoline and diesel-powered cars would be eliminated by 2035
Business
RIL posts Q3 profit of US$1.9b
Profit is 15 percent lower than in the same period last year
- Revenue from operations at India's largest company by market capitalisation rose 15 percent year on year, to US$27 billion
- Reliance's board also approved a plan to issue bonds to raise up to US$2.4 billion (200 billion rupees) to fuel further expansion across its diversified businesses.
Business
ADNOC Distribution to go for 25 percent cut in carbon intensity by 2030
ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030....
- This reduction in carbon intensity will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business.
- The company said it will install solar panels to power service stations and use biofuels in its fleet of vehicles.
World Economic Forum
Carbon pricing standards key to boost green energy
Public resistance to a carbon tax has prevented many nations from establishing carbon pricing via taxation, but taxation is not...
- In order to reach 2050 emissions reduction targets, trillions of dollars in public and private capital are needed to adopt and scale green energy technologies
- Carbon trading, regulation and different pricing schemes are alternative strategies that countries have used to impose costs for emissions, believe experts
Geostrategy
DEWA showcases its sustainability projects to French, Cuban delegations
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level...
- The meetings with the French and Cuban delegations were held at DEWA’s stand at the World Future Energy Summit in Abu Dhabi.
- The MD and CEO of DEWA discussed the firm's projects in sustainability, renewable and clean energy.
Business
Work begins on world’s first fully sequestered CO2 injection project
The project, which is expected to begin injecting CO2 in the second quarter of this year, will initially fully sequester...
- The CO2 injection well project builds on ADNOC's experience with its carbon capture facility at Al Reyadah, which has the capacity to capture up to 800,000 tons of CO2 per year.
- The project will also be monitored and assessed, using advanced technology at ADNOC's Thamama Digital Centre of Excellence, ADNOC said.
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Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
Science
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
Most Read
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.