SEC, Emaar Economic City sign agreements Â
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
Geostrategy
Geostrategy
Lebanon asks TotalEnergies to launch gas search ‘immediately’
Lebanon's search for gas riches in the hydrocarbon-rich eastern Mediterranean had stalled since 2020 over competing claims with Israel over...
- TotalEnergies is part of a consortium of energy giants awarded a license to explore for gas in two of Lebanon's 10 blocks, numbers 4 and 9.
- One well drilled in Block 4 in 2020 by TotalEnergies, Eni and Novatek showed only traces but no commercially viable gas deposits.
Geostrategy
US climate spending could spark tariff war, says Scholz
German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could...
- European Union officials have in recent weeks spoken out against planned US tax credits for the domestic electric vehicle market.
- South Korea has also voiced its displeasure, calling the new rules favoring American e-cars a "betrayal".
Interview
Sustainability key focus of GCC automotive industry
Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...
- BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
- By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East
Geostrategy
Algeria, France hail ‘new dynamic’ in economic ties
The Algerian and French prime ministers hailed a "new dynamic" as they launched a joint economic forum during a visit...
- Borne and her delegation are the latest in a string of top European officials to visit Algeria.
- The two-day business forum was organized by the Algerian Chamber of Commerce and Industry and Business France, a government agency.
Geostrategy
Ukraine nuclear plant, Europe’s biggest, reconnected to grid
The International Atomic Energy Agency (IAEA) said on Saturday that the plant -- Europe's largest nuclear power station -- had...
- The plant's six reactors are in cold shutdown, they require electricity for vital nuclear safety and security functions, including cooling
- Russian President Vladimir Putin ordered his government this week to take over operations at the power station in southern Ukraine
Economy
Greece and Egypt call Turkish-Libyan gas deal ‘illegal’
On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the...
- Greece, Egypt and Cyprus believe the 2019 agreement violates their economic rights in an area suspected to contain vast natural gas reserves
- The deal follows an agreement Turkey signed three years ago with Tripoli that demarcated the countries' shared maritime borders
Geostrategy
Energy firm starts test at sensitive Israel-Lebanon border gas field
In a statement Sunday, Energean said that "following approval received from the Israeli Ministry of Energy to start certain testing...
- Israel has maintained that Karish falls entirely within its territory and is not a subject of negotiation with Lebanon.
- Energean said the tests would take many weeks, and are "an important step" towards extracting gas from the Karish.
Geostrategy
French PM leads delegation to Algeria as ties improve
French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the...
- Ties between the North African country and France had seen months of tensions after Macron last year questioned Algeria's existence as a nation before the French occupation.
- The French PM is expected to sign deals on economic cooperation, including energy.
Economy
War and energy crisis push US LNG industry to expand
US suppliers have exported 1,574 billion cubic feet (44.6 billion cubic meters) of LNG to Europe so far in 2022,...
- US has become the world's largest exporter of LNG, an industry centered around the energy-rich Gulf of Mexico, with its infrastructure and strategic location
- In June, an explosion caused the temporary closure of the Freeport LNG terminal further south, reminding residents of the immediate risks posed by the plants
Science
DEWA invites proposals for work on sixth phase of solar park
Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the...
- The 900 MW sixth phase of the Solar Park will be implemented using photovoltaic solar panels.
- The production capacity of clean energy has reached about 12.1 percent of Dubai’s total energy mix.
SEC, Emaar Economic City sign agreements Â
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
Company News
ADNOC in talks with OMV
Business
ExxonMobil to buy Denbury
Business
Latest News
IDB inks pact with IRENA
Business
Saudi and Russian oil cuts to cause big supply shortfall: IEA
The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
Economy
IEA forecasts energy demand to reach record high this decade
The IEA's annual World Energy Outlook, due out next month, will show that "the world is on the cusp of...
Geostrategy
Building less, repurposing more key to low construction sector emissions
The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
Geostrategy
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Business
ENEC inks MoU with OSGE
Aim is to help in decarbonization of the Polish power sector.
- One of the aims of the agreement is exploring opportunities to invest in Small Modular Reactors.
- Nuclear energy is recognised by both the UAE and Poland as an essential clean energy resource.
Business
Iran-US non-oil trade reaches US$31m in January-July 2023
TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United...
- Trade between Iran and the US in January- July 2023 registered a 26 percent growth compared to the same period last year.
- Iran and the United States had traded US$24.7 million worth of non-oil products from January to July 2022.
Videos
Middle East sets global standards in renewable energy
This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green...
- This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green hydrogen, catalyzing a global clean energy shift
- By 2030, solar energy is expected to make up 15 percent of the Middle East's power mix, while new wind projects in Oman, Egypt, and Saudi Arabia will generate local jobs