Demand for crude will continue to expand through 2050, says OPEC
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...
Economy
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...
Interview
Pakistan must move from ‘anarchy and polarization’ after election: army chief
"The nation needs stable hands and a healing touch to move on from the politics of anarchy and polarization, which...
- The military looms large over Pakistan's political landscape, with generals having run the country for nearly half its history since partition from India in 1947
- Politicians and political parties rise and fall with the backing of the military, which this year was believed to be backing the party of former prime minister Nawaz Sharif
Science
Scientists in UK create new fusion record
LONDON, UK - Scientists in Britain announced on Thursday they had smashed a record for generating fusion energy in the final...
- Over 300 scientists and engineers from EUROfusion contributed to JET's landmark experiments over 40 years.
- Proponents believe it could one day help tackle climate change by providing an abundant, safe and clean source of energy.
‘Innovation is crucial for UAE’s energy efficiency’
"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...
- The UAE's Department of Energy's integrated system focuses on clean and renewable energy to achieve climate neutrality.
- Investment in youth and their innovative ideas is essential for building a sustainable future, says DoE's Awaidha Murshed Al Marar .
Geostrategy
EU seeks 90 percent drop in greenhouse emission by 2040
Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the...
- The 27-nation European Union is already working towards an interim target of cutting greenhouse gas emissions by 55 percent by 2030.
- However, rising discontent could deal it a tougher time in trying to get the 2040 goal of 90 percent cuts adopted.
Business
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.
- The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
- The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.
Business
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
- EMRC records indicate a distribution of 49 publicly accessible charging stations alongside 14 privately owned stations.
- The capacity for the installation of multiple charging units at a single site, with 230 charging facilities holding establishment permits.
Geostrategy
Parisians vote in anti-SUV parking and pollution referendum
Paris, France -- Parisians were voting on Sunday in a referendum on tripling parking costs for hefty SUV-style cars, a campaign...
- Some 1.3m people in Paris are eligible to cast their ballot on the change, which would see cars weighing 1.6 tons or more charged $19.50 per hour for parking in central areas.
- Fully electric cars would have to top two tons to be affected, while people living or working in Paris, taxi drivers, tradespeople, health workers and the disabled are exempted.
Business
Use of DEWA’s electric-vehicle green chargers up 59% in 2023
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...
- Dubai has seen a notable increase in the use of EVs since 2015. The number of EVs in the Emirate reached 25,929 vehicles by December 2023.
- The number of EV owners registered under the initiative has increased from a mere 14 in 2015 to more than 13,959 by the end of December 2023.
Business
OPEC+ panel reaffirms cartel’s current output reduction strategy
In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...
- In a statement following a meeting via videoconference, the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ stopped short of making any recommendations on its output policy.
- However, the panel said it "reviewed the crude oil production data for the months of November and December 2023", noting the "high conformity" among participating nations.
Business
Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.
- Revenue of the British energy major dived almost a fifth percent to $316.6 billion, Shell will nevertheless return $3.5 billion to shareholders
- "Shell delivered another quarter of strong performance, concluding a year in which we made good progress," said chief executive
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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
Demand for crude will continue to expand through 2050, says OPEC
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...
Economy
Company News
Geopolitical tensions boost oil, weigh on equities
Market Report
Latest News
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
Most Read
Economy
Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid
Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
- Unit 4 will add another 1,400 megawatts of clean electricity capacity to power the national grid, representing another significant step forward towards full-fleet operations
- This further supports the UAE’s efforts in enhancing grid stability and energy security through abundant around-the-clock zero-emissions electricity
Economy
Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
- Bayraktar outlined several potential routes for this transportation, including a swap arrangement via Iran or a combination of Iran and Azerbaijan
- He stressed that a primary consideration is the establishment of a pipeline traversing the Caspian Sea, offering a higher-capacity solution
Economy
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
- India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via undersea cables.
- The move aims to boost energy security, promote the use of renewable resources, and foster closer economic ties with Gulf states.