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
Clean energy largest driver of Chinese GDP growth in 2023: report
China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
Economy
Fed up of perennial power cuts, Gaza turns to solar
For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of...
- Gaza bakery owner Bishara Shehadeh began the switch to solar this summer, by placing hundreds of gleaming panels on his rooftop
- Green energy advocates say that solar energy is a vision for a global future as the world faces the perils of climate change and rising energy costs
Business
Crude prices surge as top producers plan to slash output
The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected...
- WTI climbed 3.3 percent to $82.12 and Brent also piled on 3.3 percent to $87.94 ahead of a meeting of the group this week in Vienna
- The reduction in production -- which delegates to OPEC said had not been finalized -- would be the biggest since the pandemic began when crude prices collapsed
Geostrategy
‘Nord Stream 2 pipeline has stopped leaking gas’
The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between...
- While the pipelines are not currently in operation, they both still contained gas before they fell victim to apparent sabotage, producing four leaks.
- All the leaks are in the Baltic Sea off the Danish island of Bornholm.
Geostrategy
Russia suspends gas supply to Italy due to transport issues
SOFIA, BULGARIA - Russia's Gazprom has suspended gas deliveries to Italy's Eni, blaming a transport problem in Austria, the Italian...
- Most of Russian gas delivered to Italy passes via Ukraine through Trans Austria Gas Pipeline (TAG), to Tarvisio in northern Italy
- Before the war in Ukraine, Italy imported 95 percent of the gas it consumes -- about 45 percent of which came from Russia.
Geostrategy
Lebanon receives US ‘offer’ over Israel maritime border
Lebanon said it received a letter from US envoy Amos Hochstein containing an "offer" on a maritime border deal with...
- PM Najib Mikati met with US ambassador to Lebanon Dorothy Shea "who delivered a written offer from the US mediator"
- The US-mediated negotiations restarted in early June after Israel moved a production vessel near the Karish offshore field
Economy
Jordan government reduces fuel prices for October
The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.
- The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October
- The price of one litre of diesel and kerosene will sell at JD0.825 in October, instead of JD0.790
Science
Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
- The summit will feature experts from the energy sector in the UAE and globally.
- The experts will discuss the challenges the world faces as it moves to cut carbon emissions.
Business
Large turnout of visitors at WETEX, Dubai Solar Show
The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
- A total of 1,750 companies from 55 countries worldwide participated in the exhibition.
- Latest global solutions, technologies, innovations in energy, water, sustainability, renewable and clean energy were highlighted in the event.
Economy
Fourth leak detected at Nord Stream pipelines in Baltic Sea
A Swedish Coast Guard official said that there are two leaks on the Swedish side and two leaks on the...
- Media reported that the latest leak was detected at the Nord Stream 2 pipeline, but the coast guard did not confirm this
- The vast leaks cause significant bubbling at the surface of the sea several hundred meters wide, making it impossible to immediately inspect the structures
Geostrategy
EU proposes new Russia sanctions including oil price cap
European Union also plans to expand its travel blacklist and asset freezes to include high-ranking Russian defense officials and organizers...
- The EU will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU that could help Russia's war machine
- The push for an oil price cap is aimed at limiting how much third countries, such as China and India, pay for Russian crude
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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
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Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
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Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
Geostrategy
California sues oil giants, alleges environment, climate-risks deception
The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...
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Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
- Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
- Russia is already building a power plant in Akkuyu that will become partly operational next year.
Turkey casts doubt on need for new Russian gas hub
Putin first raised the idea of creating "a gas hub in Turkey for supplies to other countries" during talks with...
- Turkish Energy Minister Alparslan Bayraktar told a group of reporters on Thursday that Turkey already had a well-functioning gas trading platform
- Russia currently ships gas to Turkey via two pipelines running under the Black Sea and Turkey sends some of that gas onto southeastern European countries
Economy
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...
- The warning comes a day after oil prices jumped following OPEC's own update
- Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year