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...
Business
Iran and Turkey to utilize modern tech for electricity exchange
Tehran, Iran - Iran and Turkey are set to enhance their electricity exchange capabilities through the implementation of modern technology,...
Economy
Business
DEWA to enhance ties with foreign firms at GITEX Global 2022
MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai...
- Al Tayer emphasized DEWA’s keenness to consolidate cooperation and exchange expertise with Canadian companies.
- The DEWA CEO highlighted DEWA’s key development projects and strategic initiatives, especially the technological projects.
Geostrategy
UN urges transformation of global energy system
Climate change risks undermining global energy security unless the use of renewables is dramatically scaled up, the UN warned Tuesday,...
- Energy sector is a major source of the carbon emissions that drive climate change, the UN's World Meteorological Organization said.
- WMO said that increasingly extreme weather events, droughts, floods and sea-level rise - all linked to climate change - were already making energy supply less reliable.
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.
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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
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...
Business
Company News
ExxonMobil Q2 profits $7.9bn
Business
Latest News
Europe should move faster on energy transition, say IEA, ECB
PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
Business
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
Science
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.
Business
Most Read
Economy
‘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...
- Saudi Arabia's government emphasizes transparency, reliability, and safety in its national atomic energy policy
- It acknowledges the positive impact of nuclear energy on energy security and socio-economic benefits.
Business
European Union okays lighter pact on curbing car emissions
Brussels, Belgium - EU member countries on Monday adopted a watered-down deal on curbing car emissions, after auto manufacturers complained stricter...
- Led by France and Italy, the 27 nations voted for a less ambitious plan than the one put forward by the European Commission in November 2022
- The European Automobile Manufacturers' Association (ACEA), the sector's main EU lobby group, cautiously welcomed the decision
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.