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...
Business
WEF24: AI stays at forefront of energy revolution
There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco...
Interview
Market Report
Equities, oil prices slide on recession fears
Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into...
- Traders had hoped that bumper rate increases by the US Federal Reserve this year would begin to drag on the economy and slow runaway prices.
- Chip manufacturers globally took a pounding from new US export controls.
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
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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...
Business
Company News
Latest News
OQGN inks $1.2bn financing deal
Business
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.
Business
Rising demand for critical metals pose dilemmas for investors
PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
Business
‘Saudi Arabia committed to peaceful nuclear energy’
"The Kingdom underscores the need for collective international efforts to enforce the provisions of the Non-Proliferation Treaty and ensure its...
Economy
Most Read
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Geostrategy
Iran criticizes US statement on islands dispute with UAE
Iran said it had called in the Swiss envoy to deliver a protest over a “provocative” US statement on its...
- The islands of Abu Musa and Greater and Lesser Tunb lie near the Strait of Hormuz.
- Iran gained control of the islands under the rule of the Western-backed shah in 1971.
China to control half the world’s hydrogen electrolyser capacity
China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...
- China's installed electrolyzer capacity has jumped in recent years and is expected to reach 1.2 gigawatts after having accounted for just 10 percent of the global capacity in 2020
- Electrolyzers are devices used for the industrial separation of hydrogen and oxygen within water molecules, using electricity obtained through renewable energy sources