INSEAD Day 4 - 728x90

Energy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

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...

Science

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...

Geostrategy
Business

ADNOC sets Upstream Methane Intensity target of 0.15 percent by 2025

Abu Dhabi, UAE--- Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane...
  • ADNOC’s 0.15 percent methane intensity target means ADNOC will be ranked in the Gold Standard category by the Oil and Gas Methane Partnership 2.0 (OGMP 2.0.
  • Oil and Gas Methane Partnership 2.0 (OGMP 2.0 is a a multi-stakeholder initiative launched by the United Nations Environment Program (UNEP) and the Climate and Clean Air Coalition.
Geostrategy

Europe’s gas storage reserves now at over 90 percent

With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have...
  • Spanish gas regulator Enagas says the backlog at ports is expected to last at least until this week.
  • Europe has made efforts to fill its storage facilities to reduce dependence on Russian gas and sought alternative suppliers.
Economy

Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022

As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
  • The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
  • Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
Business

Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP

Energy security, enhancing partnerships were discussed.
  • The meeting discussed ways of harnessing opportunities in renewables and hydrogen.
  • The meetings deliberated on ways of expanding existing relationships to enable a more sustainable future.
Geostrategy

Ukraine blames Russian blockade for making grain export ‘impossible’

Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...
  • UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.
  • The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.
Business

ConocoPhillips buys 6.25% in Qatar’s North Field South project

Project is part of the world's biggest natural gas reserves.
  • Energy Minister Saad Sherida al-Kaabi said Qatar was talking with Asian nations over a share in its campaign to increase annual production by 60 percent.
  • France's TotalEnergies and Britain's Shell both have 9.37 percent stakes in the field, while state-owned Qatar Energy has the remaining 75 percent.
Business

DEWA commissions 389 11kV substations in Q3 of 2022

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter...
  • DEWA now has 77 substations of 33kV in service, and 42,529 medium voltage (11Kv or 6.6Kv) substations.
  • These stations are mainly located at Wadi Al Safa Fifth, Al Merkad, Madinat Al Matar and Al Yalayis 1.
Geostrategy

Investment to tackle climate change falls in 2022, says UNCTAD

Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...
  • Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
  • Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Geostrategy

Russia suspends participation in Ukraine grain deal

Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...
  • The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.
  • Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.
Business

Octopus Energy acquires Bulb

Firm said it was paying the government a nine-digit sum.
  • Bulb, Britain's seventh-biggest supplier, collapsed in 2021 due to soaring wholesale prices
  • The government will give financial support to buy energy for Bulb customers over this winter.

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...
Science

Company News

Latest News

Drought caused major global hydropower drop in early 2023

BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
Science

Aramco’s Luberef resumes bitumen exports after 20 years

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business

Middle East economic growth to fall in 2023, says World Bank

WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Farmers turn to solar power in Syria’s former breadbasket

Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
  • Solar energy has offered a lifeline for the farmers amid drought and power shortages, but some warn the boom also has environmental costs in the once-fertile region
  • "We are trying to revive our land," despite dwindling groundwater reserves, said Mohammed, 38, as he oriented the panel towards the sun near his cotton fields.
Business

Geopolitical changes derailed shift towards green energy, says IMF

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
  • IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
  • It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses
Business

ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
  • The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
  • Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.