Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Business
Guyana sells $750 mn of carbon credit to US oil firm Hess
Guyana, with 800,000 inhabitants, is already the country with the most reserves per capita in the world -- over 10...
- Hess is one of three partners, along with the China National Offshore Oil Corporation and ExxonMobil, operating in Stabroek oil field off Guyana that is 89 percent virgin forest.
- President Irfaan Ali said Guyana has 18m hectares of the country's forest still intact and that it is storing 19.5 gigatons of carbon, worth an estimated $40-$50bn a year.
Geostrategy
Ukraine welcomes Russian oil price cap agreed by EU, G7
Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy"...
- Poland had refused to back the price cap plan over concerns the ceiling was too high.
- The embargo will prevent shipments of Russian crude by tanker vessel to the EU, which account for two thirds of imports.
Geostrategy
Energy crisis driving climate-friendly power savings, says IEA
PARIS, FRANCE - Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential"...
- Governments have scaled up fossil fuel subsidies to cushion the impact of rising energy costs on households in the wake of the Ukraine conflict.
- According to the IEA research, governments, industry and households invested a record $560 billion this year in energy efficiency measures.
Geostrategy
Supporting India’s G20 presidency is a priority for UAE, says Minister
The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
- The UAE will work towards a world where human progress is an inalienable right for all.
- The UAE views the G20 as a forum that plays a critical role in multilateral efforts.
Business
TotalEnergies cuts UK investment
Move comes UK imposes windfall tax on energy firms.
- Total will cut its North Sea investment by US$123 million in 2023 over windfall tax.
- The move of windfall tax in last month's budget was aimed at helping fund support for British consumers hit by rocketing energy bills.
Geostrategy
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production...
- In October the OPEC+ agreed to reduce output by two million barrels per day (bpd) from November.
- Since the October meeting, oil prices have been plummeting to their level of early 2022, far from the peaks above $130 a barrel in March
Geostrategy
US trade subsidies create unlevel playing field with Europe, says Macron
French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair...
- Macron said that US industrial subsidies, which are part of Biden's huge green energy initiatives, are "super aggressive" towards European business.
- While Washington and Paris were "working closely together" on geopolitics and opposing Russia in its invasion of Ukraine, trade tensions remained, Macron said.
Market Report
World equities extend gains on Fed rate optimism
Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a...
- Equities were also helped by signs that China is edging towards a more pragmatic approach to fighting the coronavirus.
- The dollar sank, having soared across the board this year as Fed monetary policy diverged more and more from other central banks.
Geostrategy
UK ousts China from new nuclear project Sizewell
LONDON, UK - Britain on Tuesday ousted China's nuclear firm CGN from construction of its new Sizewell C nuclear power...
- The announcement came one day after Prime Minister Rishi Sunak warned that the "golden era" of UK-China relations was "over"
- Sizewell C, which is under development on the Suffolk coast in eastern England, will power the equivalent of about six million homes.
Business
Qatar reaches long-term gas supply deal with Germany
QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to...
- QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to the Brunsbuttel LNG terminal
- Negotiations with European countries had previously struggled as Germany and others balked at signing the type of long-term deals made with Asian nations
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
Company News
Latest News
ENEC inks MoU with OSGE
Business
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
Interview
Qatar announces 27-year gas deal with Italy’s Eni
In June last year Eni agreed a deal with QatarEnergy for a 3.1 percent share in Qatar's North Field East...
Most Read
Business
Qatar signs 27-year gas deal with UK’s Shell
Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...
- Qatar will supply 3.5 million tons of gas a year under the deal, QatarEnergy said
- The gas-rich country is set to raise its output of liquified natural gas by 60 percent
Business
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
- UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
- From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Market Report
Markets fall as Biden set for Middle East diplomacy drive
US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...
- Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
- "Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.